CBN launches RT200 FX scheme for $200bn Nigeria earnings in 3-5yrs
Charles Abuede
February 11, 2022
Says banks will source own FX from December The Central Bank of Nigeria (CBN) is pushing a new scheme it has tagged, the ‘RT200 FX Programme’, which stands for the ‘Race to US$200 billion in FX Repatriation’, in a renewed drive for foreign exchange accretion which it hopes will see an exclusive $200 billion […]
Aig-Imoukhuede Foundation invites applications across Africa for 2022 PLP
Onome AmugeFebruary 2, 2022
Scholarships at Oxford University for Africa’s senior public servants The Aig-Imoukhuede Foundation has opened applications for the second class of its AIG Public Leaders Programme offered in partnership with the Blavatnik School of Government, University of Oxford. Application for the programme, which opened on the 27th of January 2022, is targeted at exceptional […]
Nigeria, US sign pact to protect Nigerian cultural property
Onome AmugeJanuary 25, 2022
The United States and Nigeria have signed a Memorandum of Understanding (MoU) that launches a Cultural Property Implementation Agreement (CPIA) aimed at the preservation, restoration, and protection of Nigeria’s diverse cultural heritage, including its historic archaeological and ethnological materials. The agreement was signed in Abuja, Nigeria’s capital city, by Mary Beth Leonard, U.S. ambassador to […]
Nigerian govt eats its words on fuel subsidy removal, blames speculation
Charles AbuedeJanuary 20, 2022
The Nigerian federal government appears to have eaten its widely circulated position on the elaborate plan it was flying to remove petroleum subsidy from February. Ahmed Lawan, president of the Nigerian senate, the legislative arm of the government appears to suggest that when he assured Nigerians that the plan will not go on for now […]
Yusuf, CPPE chief, lists factors as festivities give Nigeria inflation a lift
Onome AmugeJanuary 20, 2022
December festive activities played a big role in putting a stop to the steady decline that has headlined Nigeria’s inflation figures for eight consecutive months (April to November). Latest inflation numbers for December released by the National Bureau of Statistics (NBS) showed the impact of those activities with a rise of 0.23 percent to 15.63 […]
Former LCCI chief sees positive economic growth for Nigeria in 2022, but fragile at 3%
Charles AbuedeDecember 31, 2021
Muda Yusuf, the immediate past director general of the Lagos Chamber of Commerce and Industry (LCCI) and a senior grade Nigerian economist, says he anticipates a largely positive growth outlook for the Nigerian economy despite recent numbers from the country’s official statistics bureau which shows Nigeria may not fully come out of the woods soon. […]
Nigeria moves to replace ageing NIN slips, cards with tokens from January 1
Charles AbuedeDecember 23, 2021
Nigeria is moving to replace the ageing NIN slip and polycarbonate card, effective January 1, 2022, with the introduction of a suite of digital tokens that will ensure the privacy of personally identifiable information of individuals during verification transactions and reduce incidences of illegal retrieval, usage, transfer, and storage of NIN. Isa Pantami, minister of […]
House members pass N17.13trn 2022 budget, pegs oil benchmark at $62
Charles AbuedeDecember 22, 2021
A report laid down on the floor by Murktar Betera, chairman, appropriation committee of the House of Representatives, received a unanimous adoption during plenary in Abuja and signalled the passage of the 2022 budget of N17.13 trillion containing an increase of almost N735 billion from the initially proposed N16.391 trillion presented by President Muhammadu Buhari. […]
N675.9bn October revenue shared by federal, states, LGs in November
Charles AbuedeDecember 22, 2021
The sum of N675.94 billion out of the total revenue generated in the month of October, 2021, was shared among federal, states and local governments, better known as the three tiers of government, in the month of November, Olajide Oshundun, acting director, information, Ministry of Finance, Budget, and National Planning, has disclosed. According to […]
Nigeria looks to ramp up sugar production with $73m fund
Onome AmugeDecember 22, 2021
The Nigerian federal government has formally commissioned a $73 million infrastructure intervention project aimed at fostering the development and productivity of Nigeria’s sugar sub-sector. The sugar infrastructure programme named ‘Presidential Intervention on Irrigation Infrastructure to Accelerate Sugar Backward Integration Programme Projects’, is expected to support the development of irrigation facilities on 10,000 hectares of sugar […]