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Lagos, South Africa and New York
Saturday, August 8, 2020

Nigeria must make hard decisions to transit away from an oil revenue economy – Soludo

“I think this is a time Nigeria should actually be making hard decisions to transit away from an oil revenue economy. And that’s the serious work'', former Governor of the Central Bank of Nigeria, CBN, Chukwuma Soludo said in Lagos. Mr. Soludo, who spoke as...

World Bank’s $150m credit will boost Nigeria’s mining sector’s competitiveness – Olufon

The World Bank on Wednesday approved 150 million dollars credit to help increase the mining sector’s contribution to the Nigerian economy. The Senior Communication Officer of the bank, Ms Olufunke Olufon said in a statement in Abuja that the project would help to establish a...

2018 national population census to cost Nigeria N272bn – NPC

The proposed 2018 national population census will cost an estimated N272 billion, the Director-General of the National Population Commission (NPC), Dr Ghaji Bello, has said. Bello told a correspondent of the News Agency of Nigeria (NAN) in New York that the Federal Government was expected...

Nigeria promises tax holidays to local miners, targets seven minerals

The Federal Government on Thursday Promised to give tax holidays to miners of seven minerals in the country. Kayode Fayemi, the Minister of Mines and Steel Development, made the promise at a stakeholders meeting of the Association of Miners Processors of Barite, AMAPOB, and Tse...

CBN to sell dollar forwards to fuel importers, airlines

LAGOS, April 4 (Naija247news) - Nigeria's central bank said on Tuesday it will offer dollar forwards to be delivered within two months to offset a backlog of matured foreign exchange obligations to manufacturers, airlines, fuel importers and agriculture businesses. "Authorised dealers' accounts with the central...

Nigeria’s mining sector can generate N5 trillion annually – Minister

Nigeria’s Minister of Mines and Steel Development, Dr. Kayode Fayemi  has said that the nation’s mining industry has the capacity to generate N5 trillion annually from mining and exporting of vast solid mineral, with anticipated Gross Domestic Product (GDP) in excess of $25 billion...

Nigeria Bans Importation Of Packaged Tomato Paste

Nigeria government, though the Ministry of Industry, Trade and Investment, yesterday banned the importation of tomato paste, powder or concentrate, and increased the tariff on importation of tomato concentrate among others from five to 50 per cent in order to revive the tomato sector. According...

Nigeria’s Lagos to begin Local assembly of BRT buses in Sept

The assembly of the Yutong air-conditioned buses manufactured in China may begin in Nigeria by September, according to the Managing Director of the Blue Line Bus Rapid Transit (BRT) franchise operator – Primero Transit Service Limited Mr Fola Tinubu. Yutong buses are currently being used...

Nigeria, South Africa bilateral trade hits N552.2 billion in 2016

South Africa’s Minister of Trade and Industry, Rob Davies, said that Nigeria’s exports to South Africa hit N552.2 billion (R23 billion) in 2016. According to a statement from the country’s Department of Trade and Industry on Thursday, Mr. Davies said South Africa’s exports to Nigeria...

Nigeria will focus on car assembly plants, says NIPC boss

Yewande Sadiku, Executive Secretary, Nigerian Investment Promotion Commission (NIPC) has said that the country will focus on car assembly plants in spite of the challenges in the economy. Sadiku made the statement in Abuja on Tuesday during an interactive forum with commercial attaches of foreign...
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