World Bank says Nigeria to grow 1%, SSA moderate 2.7% in 2021
Charles Abuede
January 6, 2021
By Charles Abuede Rising government debt, natural phenomenon pose downside risks to recovery Banks may face sharp increases NPLs in 2021 The World Bank says Nigeria is to grow by 1.1 per cent this year and 1.8 per cent in 2022. The forecasts are contained in the bank’s latest 2021 global economic outlook just […]
Nigeria’s Ogun State to build country’s first agro-allied airport
Onome AmugeJanuary 5, 2021
By Onome Amuge Backs former President Obasanjo’s agro-commodities goal The Ogun State government, in partnership with Olusegun Obasanjo, erstwhile Nigerian president, is moving towards establishing an agro-commodities airport in the South-west state of Nigeria. Dapo Abiodun, Ogun State governor, who disclosed this in a recent statement, noted that the project is duly supported by […]
UNICEF predicts over 800,000 Nigerian children to suffer starvation in 2021
Onome AmugeJanuary 5, 2021
By Onome Amuge No fewer than 800,000 children will suffer acute malnutrition in the northeast of Nigeria with about 300,000 of the total projection in danger of death in 2021, the United Nations Children’s Fund (UNICEF) has predicted. According to the latest projection from the international aid agency, about 10.4 million children in six […]
Nigeria’s N13.58trn 2021 budget starts January 1 as President Buhari signs bill
Charles AbuedeDecember 31, 2020
By Charles Abuede After decades of failing to get its yearly budget passed to begin implementation at the start of a new year, Nigeria’s federal government appears to be steadily getting into the flow as President Muhammadu Buhari on Thursday signed the 2021 Appropriation Bill that will allow government to spend N13.58 trillion in […]
Obaseki’s N164.7bn MEGA budget promises vigorous response to Covid-19
Onome AmugeDecember 31, 2020
By Onome Amuge Build sustainable workforce of the future Governor Godwin Obaseki’s N164.7 billion Make Edo Great Again (MEGA) budget, the appropriation bill of which he signed into law last Wednesday after approval by the Edo State House of Assembly, will vigorously respond to the upheavals caused by the Covid-19 pandemic, while the government […]
Wike’s Rivers lockdown plan receives knocks from CSOs, citizens for being counterproductive
Ben EguzozieDecember 30, 2020
Cite World Bank report which downgraded 79% Rivers’ households drawing down their savings Many citizens and civil society organisations (CSOs) of Rivers State, who have been speaking with Business A.M. on the planned second lockdown of the state by Governor Nyesom Wike, say the entire exercise, before its execution, was hurtful and would […]
Nigerian businesses doubt macroeconomic environment amid rising activity level
Charles AbuedeDecember 30, 2020
By Charles Abuede Report shows firms expect naira to depreciate before the end of 2020 A new survey by the Central Bank of Nigeria on business expectations shows that Nigerian businesses are still pessimistic about the macro economy despite their expression of positivity on the outlook for business activity level, the average utilization […]
FERMA to fix roads in 10 states, Abuja with N8.18bn
Charles AbuedeDecember 30, 2020
By Charles Abuede Babatunde Fashola, the minister of Works and Housing, has revealed that a total of N8.18 billion has been approved by the federal executive council (FEC) for the Federal Roads Maintenance Agency (FERMA) to carry out the emergency repairs of roads across 10 states in the country, including the federal capital territory. […]
Oyo farmers signal maize scarcity next year in recount of 2020 planting season losses
Onome AmugeDecember 30, 2020
By Onome Amuge Oyo State farmers, under the auspices of the Association of Farm Settlers, have predicted potential scarcity in the supply of maize in the state come 2021. The farmers who made the disclosure following an emergency meeting held in Iseyin, Oko-Ogun area of the South-west state, bemoaned the impacts of failed flood […]
Rivers’ commissioner, Nsirim, says Governor Wike’s projects to attract investors
Ben EguzozieDecember 30, 2020
But analysts want governor to balance projects with economic growth, job creation Paulinus Nsirim, Rivers State’s commissioner for information and communication, says the vast projects, including the on-going seven flyover bridges, being erected across the oil-rich state by Governor Nyesom Wike, are aimed at attracting investors into the state and thereby grow […]