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Monday, August 10, 2020

JUST IN: Nigeria gives conditions for fuel subsidy removal

The federal government has given conditions for removal of subsidy on premium motor spirit (otherwise known as fuel) which includes provision of alternative cushioning measures mutually agreed between stakeholders to protect the economically vulnerable members of the population. Finance Minister, Mrs Zainab Ahmed, at...

Emefiele, Akeredolu to inaugurate 500,000 Eggs per day Egg Powder Plant in Ondo

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele and the Ondo State Governor, Mr. Rotimi Akeredolu, SAN, will soon jointly inaugurate a new Egg Powder Plant in Emure-Ile, near Owo, Ondo State established through...

Buhari approves construction of two new seaport, Bonny, Lekki

President Muhammadu Buhari has approved a rail line from Kano to his hometown in Daura, and Jibia local government area of Katsina state. This was disclosed by Rotimi Ameachi, the minister of transportation, at The Osasu Show Symposium — which borders on the economy and...

Nigeria’s Merchandise Trade Grew In Q3 2019 With Higher Exports And Lower Imports

Total Trade Total trade grew by 6.8% in Q3,2019 compared to Q2,2019 and 1.33% relative to Q3, 2018. Imports The value of total imports decreased 2.70% in Q3 2019 compared to Q2,2019, and 7.47% relative to the corresponding quarter of 2018. In Q3, 2019, the value of...

Nigeria targets 819MW from wind, hydro power projects in 2 years

The Federal government has announced plans to add up to 819 megawatts (MW) of clean electricity from a number of hydro and wind power projects to the national grid. The Minister of Power, Works and Housing, Mr. Babatunde Fashola, who stated this at the Fourth...

Nigeria’s real estate sector must be liberalized to attract investors – Experts

The International Real Estate Federation (FIABCI) has said except the economy is liberalised and agencies of government are made to complement one another in services delivery, the much desired Foreign Direct investment (FDI) into the sector may not come. FIABCI, however, noted that government agencies...

Speaker: Why we pushed for North East Development Commission

Speaker of the House of Representatives, Hon Yakubu Dogara, has cautioned stakeholders from the North East geo-political zone not to mismanage the newly created North East Development Commission. Hon Dogara said that people of the region must justify the trust reposed in them by the...

Nigeria’ investor confidence spikes as Akwa Ibom Attracts N9.2bn inflow

By Goddy Egene Investor confidence in the Nigerian economy is rising as Jubilee Syringe Manufacturing Company Limited (JSM) is getting set for production in Onna Local Government Area of Akwa Ibom State. Foreign investors have staked an initial amount of about $30 million (about N9.2...

Nigeria’s banks seen gain more from mobile money than MTN

By David Whitehouse MTN Nigeria, which runs the country’s biggest mobile phone network, won a licence from the country’s central bank in July to provide financial services. But replicating the success of MTN’s mobile money offer in east Africa will be a big ask. The...

Nigeria okays another 60-day national action plan to boost economy

A meeting of the Presidential Enabling Business Environment Council (PEBEC) has approved a second 60-day National Action Plan (NAP 2.0) to drive reforms aimed at making Nigeria an easier place to do business. The meeting, presided over by Vice-President Yemi Osinbajo, at the Presidential Villa,...
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