Rising oil prices sustain Nigeria’s economic growth for the fourth quarter

Rising oil prices have contributed largely to Nigeria’s economy, which expanded for a fourth straight quarter in the first three months of 2018. According to growth figures released by the Nigerian statistical agency, the National Bureau of Statistics, gross domestic product expanded 1.95 percent in the three months through March, though slowing 0.16 percent quarter […]

World Bank pledges $8.8bn Nigeria investment

The World Bank has announced a pledge of $8.8 billion (N2.7 trillion) investment strategy to Nigeria for the 2019 fiscal year following the just concluded visit to Nigeria. The investment strategy, made in a statement monitored on Premium Times, would be implemented under the World Bank’s Nigeria Country Partnership Strategy (NCPS) through the International Development […]

Nigeria govt spent N1.5trn on capital projects in 2017, finance minister says

Kemi Adeosun, Nigeria’s finance minister, said Sunday that the country’s government spent more than N1.5 trillion on capital infrastructure in 2017. The minister stated this via her official Twitter handle, @HMKemiAdeosun, noting that the figure is higher than what was achieved in the 2016 budget. said the Federal Government’s debt management strategy was yielding the […]

Nigeria’s Adeosun, Emefiele optimistic about economy sustaining positive growth

Kemi Adeosun, Nigeria’s minister of finance, and Godwin Emefiele, the governor, Central Bank of Nigeria, on Sunday showed optimism about the country’s economy sustaining its positive growth outlook. The two government officials gave the assurance at a joint press briefing at the end of the 2018 International Monetary Fund and World Bank’s Spring Meetings in […]

Nigeria’s increasing population, enormous threat to economy- UK envoy

Paul Arkwright, UK high commissioner to Nigeria, said Tuesday that Nigeria’s increasing population could be a big disaster to the country if not checked. The UK envoy said this at an event organised by the African Peace Building Network of the Social Science Research Council and African Leadership Centre of the Kings College London in […]

Nigeria’s finance minister sees economy growing 7% in next 2-3 years

Kemi Adeosun, Nigeria’s finance minister seeing the country’s economy recovered quickly from a recession, said there are potentialities to achieve a seven percent economic growth in the next two to three years. The minister disclosed this Tuesday at the 4th Ogun State Investors Forum in Abeokuta, saying the country’s economic outlook for 2018 and beyond […]

Nigeria back down AfCFTA agreement to extend scope of consultations

Chiedu Osakwe, Nigeria’s chief trade negotiator said the country’s decision to back down from this week’s signing of the new pan-African continental free trade area in Rwanda, was “in the national interest of a great and diverse country”. According to Channels Television, Osakwe said in an email that the government wants to “deepen, intensify and […]

Huge welcome trails ‘Nigerian jobs for Nigerian people’ policy

In Britain, it is called giving British jobs to the British. Just like Donald Trump’s insistence that American jobs should first be for Americans, Nigeria’s President Muhammadu Buhari’s Executive Order 5, that prohibits giving foreigners jobs that can be done by Nigerians is being widely applauded by the citizens. But in an economy where the […]