Saturday 21st April 2018,
Hope for Nigeria

Browsing the "Economy" Category

Nigeria’s debt level under control, says Adeosun

In spite of the warning by the International Monetary Fund (IMF) that debt levels in African economies were rising, Minister of Finance, Mrs. Kemi Adeosun, yesterday said Nigeria’s debt level was still sustainable and under control. According to the News [...]

April 21, 2018 Economy

Chevron debunks alleged transfer of interest in OML 11

Chevron Nigeria Limited (CNL), Operator of the Joint Venture with the Nigeria National Petroleum Corporation (NNPC), has denied alleged transfer of its interest in Oil Mining Lease 11 (OML) in Yorla Field, eastern Niger Delta to an investor. Its General [...]

April 20, 2018 Economy

IMF douses fears on Nigeria’s rising debts profile

Contrary to increasing fears of negative outcome from Nigeria’s rising external and domestic debts, which many believe are back to pre-2015 levels to fund infrastructure development and budgets, the International Monetary Fund (IMF), yesterday said there is merit in this [...]

April 19, 2018 Economy

Nigeria’s economy projected to grow 2.1% in 2018

Nigeria’s economy is projected to accelerate to 2.1 per cent this year, up from the 0.8 per cent in 2017, riding on the back of exit from its worst recession in over two decades. The International Monetary Fund (IMF), said [...]

April 18, 2018 Economy

Tourism contributed N800 billion to Lagos GDP in 2017, says Ambode

Lagos State Governor Akinwunmi Ambode has said that the tourism sector contributed about N800 billion ($2.2 billion) to the Lagos Gross Domestic Product (GDP) in 2017. He said with the infrastructure and resources being deployed in the sector, the figure [...]

April 17, 2018 Economy

Heritage pledges support for creative sector, economy

Heritage Bank Plc has restated its commitment to the development and growth of the Nigeria’s creative industry, describing the sector as one of the easiest areas to solve the unemployment issue in the country. The lender has also restated its [...]

April 17, 2018 Economy

Firm donates boreholes, learning materials to Osun community

In line with its mission to attract development to communities nationwide, Beltij Limited, a gold-mining company, has donated three boreholes and learning materials to Igun Ijesa community in Osun State. During the inauguration recently, the firm’s Chief Executive Officer, Mr. [...]

April 16, 2018 Technology

NNPC pledges to back local investors, tech development

The Nigerian National Petroleum Corporation (NNPC) has said it will encourage initiatives targeted at enhancing Nigerian investors in the oil and gas sector. Group Managing Director, Maikanti Baru, said yesterday, that the national oil company would support engineering development to [...]

April 14, 2018 Technology

Dangote, others boost wheat production with threshing machines

Dangote Flour Mills of Nigeria Plc and other key stakeholders in the flour milling industry have donated 50 units AMAR multi-crop threshers to wheat farmers in the country, as part of their commitment to aid self sufficiency in wheat production. [...]

April 13, 2018 Agriculture

Space Hotel To Launch In 2022 Costs Almost N285,000,000 A Night

Space Hotel To Launch In 2022: Are you willing to take an adventure to space? Orion Span, a US based company has announced that its luxury space hotel Aurora Station will be open in 2022. This hotel will accommodate four guests and [...]

April 11, 2018 Business

Firm seeks U.S partnership to develop national economy

An indigenous oil firm in the Niger Delta Region, Belemaoil Producing Limited, has requested the partnership of the United States to develop the national economy. Founder and President of Belemaoil, Jack-Rich Tein, made the appeal yesterday when the United States [...]

April 11, 2018 Business

Why Bill Gates told Nigeria to do more in human capital development – Country Director, Gates Foundation

Paulin Basinga is the Country Director of Bill and Melinda Gates Foundation in Nigeria, a major international donor supporting development in several sectors in the country. In this exclusive interview with Ayodamola Owoseye of PREMIUM TIMES, he speaks on Bill [...]

April 9, 2018 Economy

Investors lose N239 billion in four trading days

Investors lose N239 billion in four trading days: At the end of last week’s transactions on the equity sector of the Nigerian Stock Exchange (NSE), the bearish performance in the local bourse was sustained as the NSE’s market capitalisation dipped [...]

April 9, 2018 Business

Petrol subsidy hits N1.4 trillion, says Kachikwu

Petrol subsidy hits N1.4 trillion: Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that subsidy on Premium Motor Spirit (PMS), otherwise known as petrol, currently stands at N1.4 trillion. Kachikwu, who spoke yesterday at workshop on Liquefied [...]

April 6, 2018 Oil & Gas

Nigeria, others to spend over $811 billion on oil, gas fields

Nigeria and other countries across the world will spend about $811 billion on 615 upcoming oil and gas fields in the next eight years, a research conducted by data and analytics firm- Globaldata, has revealed. The money, specifically, would be [...]

April 3, 2018 Business

Residents groan, businesses falter as Buhari visits Lagos

Buhari visits Lagos: Lagos residents yesterday groaned under gridlock caused at different locations in the city by President Muhammadu Buhari’s visit to the state. The state government had announced on Tuesday that movement would be restricted to certain areas during [...]

March 30, 2018 Economy

The shame of Lagos State BRT

Years ago when BRT berthed, Lagosians especially those on the Lagos- Ikorodu road axis down to Western Avenue were exceedingly glad with the hope that a huge relief has come in the transportation sector but it seems the Lagos State [...]

March 27, 2018 Transportation

Aviation unions threaten strike over N45b Nigeria Airways pension arrears

Workers’ unions in the aviation industry have threatened to shut the airspace and ground all flight activities in protest against the Federal Government’s refusal to pay N45b pension and gratuities of Nigeria Airways ex-workers. The unions, comprised of National Association [...]

March 26, 2018 Technology

Osinbajo’s responds to Bill Gates’ speech on Nigeria’s economy

Osinbajo’s responds to Bill Gates’ speech on Nigeria’s economy: Vice President, Yemi Osinbajo, yesterday responded to call made by billionaire Bill Gates, asking the Federal Government to resolve challenges surrounding human capital development. According to Osinbajo, investing in people was [...]

March 23, 2018 Economy

Lagos auto show to attract more exhibitors

Organisers of the Lagos Motor show, BKG Exhibitions Nigeria Limited has concluded plans to hold its 2018 edition of the auto fair, poised to provide avenue for all auto-linked businesses to promote their products. The Managing Director, BKG Exhibitions, Ifeanyi [...]

March 23, 2018 Transportation

Minister unveils technology orientation centre in Abuja

Minister unveils technology orientation centre in Abuja: DR Ogbonnaya Onu, minister of Science and Technology, said science and technology is the key that will enable Nigerians to become the true masters of their own destinies. Onu said this during the [...]

March 23, 2018 Technology

Bill Gates, Dangote sign MoU with 6 governors on immunisation fund

Bill Gates and Aliko Dangote on Wednesday signed Memorandum of Understanding (MoU) with six northern state governors on improved access to immunisation in Nigeria. The governors are Aminu Waziri Tambuwal of Sokoto, Kashim Shettima, Borno; Abdullahi Ganduje, Kano; Muhammed Abubakar, [...]

March 22, 2018 Business

NCS seizes 16 exotic vehicles, detains five suspects

NCS seizes 16 exotic vehicles: The Nigeria Customs Service (NCS) has arrested five suspects involved in the illegal importation of 89 items, including16 new exotic cars. The Federal Operations unit, Zone A, of the NCS in Ikeja, Lagos carried out [...]

March 21, 2018 Transportation

Nigeria power generation to hit 100,000mw by 2030

The Energy Commission of Nigeria (ECN) on Monday predicted a growth of up to 100,000 megawatts electricity generation in the country by 2030. Prof. Eli Bala, the ECN’s Director-General, disclosed this in an interview with the News Agency of Nigeria [...]

March 19, 2018 Power

Nigeria will not experience fuel scarcity again – Baru

The Group Managing Director, Nigeria National Petroleum Corporation, NNPC, Dr. Maikanti Baru, on Saturday, assured Nigerians that the “era of fuel scarcity is gone for good.” Receiving the Man of the Year Award from Nigeria NewsDirect newspaper, the NNPC GMD [...]

March 18, 2018 Economy

Olusosun Dumpsite: Ambode to engage scavengers on means of livelihood

Gov. Akinwunmi Ambode of Lagos has assured that the state government would engage scavengers and other workers at the Olusosun dumpside on ways to make their lives bearable. Chief Press Secretary to the Governor, Habib Aruna, said in a statement [...]

March 18, 2018 Economy

Lagos reduces land use charge

Lagos reduces land use charge: Lagos State Government has announced a reduction in the rates to be paid through Land Use Charge. Announcing this at a press briefing in Alausa, the Commissioner for Finance, Akinyemi Ashade, said that rate for [...]

March 15, 2018 Real Estate

Modular refineries won’t solve Nigeria’s problem of fuel deficit‎ – Kachikwu

The Minister of State for Petroleum, Dr. Ibe Kachikwu, has said the modular refineries the federal government is proposing to establish would not address the challenge of fuel deficit in the country. He, however, said it would essentially address the [...]

March 15, 2018 Economy

Philanthropist builds 4.5km road in Enugu

A Philanthropist, Prince Lawrence Eze, has constructed a 4.5km road with streetlights for his Mburubu community, in Nkanu East Local Government Area of Enugu State, to enhance the evacuation of farm produce from the area to Enugu and neighbouring states. [...]

March 14, 2018 Technology

Reps to investigate alleged illegal withdrawal of N10b from NHIS fund

The House of Representatives yesterday, resolved to investigate alleged illegal withdrawal of N10 billion from the National Health Insurance Scheme (NHIS) fund.The monies were domiciled in the Federal Government Treasury Single Account (TSA) in the Central bank of Nigeria (CBN). [...]

March 14, 2018 Economy