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The Nigerian economy is growing slower than the Nigeria's population, the FSDH research has revealed. According to the research by the FSDH Merchant Bank on ‘Final judgment on performance of the Nigerian economy: Implications’, it said this was an indication [...]
Investors in the nation’s stock market lost N196bn on Monday as equities listed on the Nigerian Stock Exchange declined following poll delay. Financial experts and capital market operators had on Sunday predicted that the stock market would react negatively to [...]
President Muhammadu Buhari yesterday vowed to probe the $16 billion invested in the power sector by his predecessor in office, Chief Olusegun Obasanjo. He pledged that every kobo would be recovered and anyone found wanting exposed. Speaking during an All [...]
The Economic and Financial Crimes Commission on Tuesday arraigned the immediate-past Secretary to the Government of the Federation, Mr Babachir Lawal, and four others on fraud charges. The five defendants, including Lawal, pleaded not guilty to all the 10 counts [...]
Investors in the nation’s stock market gained N253.7bn on Tuesday as the market capitalisation of equities listed on the Nigerian Stock Exchange rose above the N12tn mark. Equities listed on the NSE extended their gaining streak to the eighth consecutive [...]
The National Bureau of Statistics on Tuesday released the Gross Domestic Product report for the fourth quarter of 2018, with the economy recording a growth rate of 2.38 per cent year-on-year. The 2.38 per cent growth rate in the GDP [...]
The numerous intervention schemes notwithstanding, the Central Bank of Nigeria (CBN) has put the existing financing gap in the small business segment of the economy at $158 billion (N48 trillion).According to the apex bank, the quest for inclusive economic growth [...]
Prohibitive customs duty has been identified as the reason why Nigeria has not been able to benefit from earnings in vessel registration. Nigerian flagged ships are required to pay 15 per cent customs duty while the foreign flagged ones attract [...]
The Federal Government has denied the allegation making the rounds in the media that it had connived with the Independent National Electoral Commission (INEC) to work with Internet Service Providers (ISPs) in the country to shut down Internet access during [...]
The Nigerian Customs Service (NCS) cumbersome documentation process may have delayed about 25 vessels currently stuck on the Lagos high sea, laden with petroleum products, and other goods waiting to berth and discharge the products for domestic consumption. The latest [...]
A Lagos-bound Air Peace flight was forced to return to the Nnamdi Azikiwe International Airport, Abuja, on Wednesday, following safety concerns over an explosive on board the aircraft. The Corporate Communications Manager of the carrier, Mr Chris Iwarah, said the [...]
A civil rights organisation, Legislative Probity and Accountability, has given the Lagos House of Assembly five days ultimatum within which to account for the N28.8bn said to have been collected as running cost under the leadership of Mudashiru Obasa. The [...]
Nigeria’s former Finance Minister and ex Vice President of the World Bank, Ngozi Okonjo-Iweala, says she’s ready to assume the number one position of the Bretton Woods institution. Mr. Jim Yong Kim, who was reappointed World Bank President for a [...]
President of the Nigeria Labour Congress, Ayuba Wabba, has lamented that minimum wage can barely provide basic necessities of life for workers in many parts of the world, noting that one per cent of the world population now controls half [...]
Facebook says it is unveiling a new incubation programme, in partnership with its Nigerian satellite hubs to help local start-ups and upcoming entrepreneurs realise their business goals. Facebook Developer Programme Manager Kendra Nnachi said in a statement on Wednesday in [...]
WhatsApp users in the country on Wednesday rejoiced that the messaging app did not crash on Tuesday contrary to what was experienced in some parts of the world. It would be recalled that several users worldwide, both on Android and [...]
The Benin Monarch, Oba Ewuare II, has asked President Muhammadu Buhari not to renew the license of the Benin Electricity Distribution Company (BEDC) for its inability to provide electricity. Oba Ewuare II appealed to Buhari to support Governor’s Godwin Obaseki’s [...]
The Federal Government is set to present the N30,000 new National Minimum Wage proposal to the National Economic Council on Thursday (tomorrow) for further consultations. This was the key resolution of an extraordinary meeting of the Federal Executive Council, which [...]
Oil prices are expected to oscillate close to current levels well into the next decade, averaging around $65-70 per barrel through 2023, according to an annual survey of energy professionals conducted by Reuters. Despite the recent slump in oil prices, [...]
The Rice Farmers Association of Nigeria (RIFAN) said the Central Bank of Nigeria (CBN) has approved compensation for over 550,000, rice farmers affected by the 2018 flood disaster. RIFAN national president, Alhaji Aminu Goronyo, on Tuesday in Abuja told News [...]
Electricity generation companies in the country have said they will be forced to shut down their power plants if the challenges facing them are not addressed. The Association of Power Generation Companies, the umbrella body for the Gencos, said on [...]
Secretary to the Government of the Federation (SGF), Boss Mustapha, has disclosed that the Federal Government has repositioned the Nigerian maritime industry for the country’s economic growth. He said such development had also made the sector attractive to local and [...]
There is no budgetary provision for the construction of the 3,050 megawatts Mambila hydropower project, the Federal Government declared on Sunday. The government said the claims that the loan negotiations for the project had stalled since 2017 because of an [...]
The Transmission Company of Nigeria (TCN) has announced a planned power outage in some parts of Lagos and Ogun States on Jan. 13 and Jan. 15, between 8:00am and 5:00pm. Ms Ndidi Mbah, the General Manager, Public Affairs Unit, TCN, [...]
Keystone Bank Limited has denied allegations that President Muhammadu Buhari has a stake in the bank. The bank, on Tuesday, stated, “The fact of the ownership of Keystone Bank by the Asset Management Corporation of Nigeria was never in doubt. [...]
The Manufacturers Association of Nigeria (MAN) has pointed out that there is no mention in the 2019 budget of the need to dredge the various ports outside Lagos to decongest the Tin Can Island and Wharf ports. The Manufacturers Association [...]
Less than two months before the 2019 presidential election, the Senate President, Dr Bukola Saraki, has taken a swipe at the All Progressives Congress (APC)-led federal government, accusing it of lying to Nigerians that the country consumes 50 million litres [...]
Abacha Loot: The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, has explained how the $322m recovered from late Gen. Sani Abacha’s family is being utilised by the Muhammadu Buhari administration. Shehu, in a statement obtained [...]
The Lagos State Government has assured residents of the availability of LAKE Rice during the Christmas and New Year festive periods. The Commissioner for Agriculture, Mr Oluwatoyin Suarau, said the home-grown rice had been available for purchase since Saturday, December [...]
The Federal Government is set to release N4bn to kick-start the payment of full salaries as minimum pensions for some categories of retirees under the Contributory Pension Scheme as mandated by the Pension Reform Act 2014, NIKE POPOOLA writes Some [...]
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