News - Business and Economy

Angola, Nigeria To Strengthen Relations

3 days ago /

The president of Angola, Joao Lorenco has promised to strengthen the existing relations between his country and Nigeria. President Lorenco gave the assurance at a colourful ceremony at the presidential villa in Luanda when the new Nigerian ambassador to Angola, Adesesan Olatunde presented his letters of credence to the president. Ambassador Olatunde, decked in...

Indonesia To Invest In Nigeria's Economy

3 days ago /

Indonesia ambassador to Nigeria, Harry Purwanto says his home government is ready to invest in Nigeria’s solid minerals and mining sub-sector. The Indonesian envoy said this during the signing of a memorandum of understanding, MOU between Nigeria and Indonesia owned mining corporation, P.T. Timah which is set to invest billions of...

Cross River To Organise Green Economy Summit In 2018

5 days ago /

The Cross River State Government has called on local,, regional and international stakeholders in climate change project  to support the state's quest to prevent the remaining fifty percent of the tropical rainforest in Nigeria to this end, the state is organising a global summit  on climate change and green economy...

NESREA Advocates Green Economy

6 days ago /

The Nigerian government says an inclusive green economy focused on ending widespread environmental and health risks is an alternative to the current environmental degradation. The director general, National Environmental Standards And Regulations Enforcement Agency (NESREA) Lawrence Anukam said this while briefing journalists on the forthcoming conference of key players in environmental...

Hungary Eyes Nigerian Crude Oil, LNG

2 weeks ago /

The Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria. The Hungarian Ambassador to Nigeria, Professor Gabor Ternak, disclosed this on Tuesday during a visit to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, in Abuja. In a statement...

Al-Makura Presents N122bn 2018 Budget

2 weeks ago /

Nasarawa State Governor, Tanko Al-Makura, has presented the 2018 Appropriation Bill of N122,820,943,284 to the State House of Assembly. The bill, which is tagged ‘Budget of Sustainable Development’, has an increase of 34.25% which represents N31billion as against the 2017 budget which was N91billion. While presenting the budget on Wednesday, the governor scored...

Profit Taking: NSE Market Capitalisation Nosedives By N67 billion

3 weeks ago /

Transactions on the nation’s bourse ended on a downward trend on Tuesday with major blue chips posting price losses. The News Agency of Nigeria reports that the Nigerian Stock Exchange market capitalization due to profit taking dropped by N67 billion or 0.52 percent to close at N12.738 trillion against N12.805 trillion...

NNPC Completes 539km Of Gas Pipeline Projects

3 weeks ago /

The Nigerian National Petroleum Corporation (NNPC) says it has completed, commissioned and delivered 500 kilometers (km) of gas pipelines between 2010 to date. The Group Managing Director of the NNPC, Dr Maikanti Baru, said this on Tuesday in Abuja in a statement by Mr Ndu Ughamadu, the corporation’s Group General Manager...

Nigeria’s Economy Grows By 1.4% In Third Quarter

3 weeks ago /

Nigeria’s economy continued its recovery from recession, rising 1.4 percent in the third quarter of this year on increased oil production, official data showed Monday. The National Bureau of Statistics (NBS) said it was the second quarter of consecutive growth since the country emerged from recession. “This growth is 3.74 percentage points...

CBN Expands Anchor Borrowers’ Programme, Releases N45bn

1 month ago /

The Central Bank of Nigeria says it has formed strategic partnerships with Agricultural Commodity Associations in the country in its effort to expand the implementation of the Anchor Borrowers’ Programme. The Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, said in a statement that the decision to enter into strategic...

Nigeria Not An Oil Economy, Says Adeosun

1 month ago /

The Minister of Finance, Mrs Kemi Adeosun, has set the records straight regarding Nigeria’s status as an oil producing economy. Mrs Adeosun, in an article titled: ‘All Change, Nigeria Is Not An Oil Economy”, said the country does not fit into such description and it would be wrong to categorise it...

Nigeria Explores Partnerships With China For SMEs Development

1 month ago /

The Nigerian government says it will continue to take steps that will further open the international market to products made in the country by Micro, Small and Medium Enterprises, MSME’s. The director general of the small and medium enterprises development agencies of Nigeria, SMEDAN, Dukko Radda who led twenty-six Nigerian entrepreneurs...

IMF Asks Govt To Eliminate Tax Holidays

1 month ago /

The International Monetary Fund (IMF) has asked government to implement a reform to phase out tax holidays and increase taxes imposed on tobacco and alcohol. The IMF resident representative in Nigeria, Mr Amine Mati, said this at a forum in Lagos at the weekend. Mati is also seeking the reduction of interest...

U.S. Companies Set To Invest In Nigeria

1 month ago /

President of the US-Africa business centre of the United States chamber of commerce, Scott Eisner says the economic and investment policy of the present administration has given confidence to American companies to invest in Nigeria. Fielding questions from state house correspondents after leading a delegation on a courtesy visit to Vice...

Nigeria Agriculture: Ministry Wants Laws To Export Yams, Goat Carcasses

2 months ago /

…Blames poor budget implementation on Procurement Act.

Nigerians Need To Be More Committed To Tax Payment - Minister Of State For Labour

2 months ago /

The minister of state for Labour, Professor Stephen Ocheni says Nigerians need to be more committed to tax payment to increase government’s revenue to finance infrastructure project. The minister was speaking when he played host to members of the chattered institute of taxation on Nigeria. Professor Ocheni said the campaign for tax...

MTN Has Been Evading Taxes - NLC

2 months ago /

The Nigeria Labour Congress, NLC says telecommunication giant, MTN has been involved in tax evasion and should be made to make remittances. The NLC president Ayuba Wabba said this during the public service international forum on tax justice system for youths in Africa. He said labour is pushing for all political office...

Chinese Government To Support Nigeria’s Drive To Make Made In Nigeria Products Exportable

2 months ago /

The Chinese government says it would support Nigeria’s drive to make made in Nigeria products an exportable brand. Chinese ambassador to Nigeria thou Pingjian said this as his country marked its national day which coincided with Nigeria’s independence anniversary. As Nigeria’s tax revenue from oil continues to fall and the country gradually...

SEC Arraigns Two Former BGL Chiefs

2 months ago /

Nigeria’s Securities and Exchange Commission on Thursday arraigned two former executives of the shutdown Investment and Securities Trading Group, BGL at an Abuja Magistrate Court. The former Group Managing Director of the BGL Group, Albert Okumagba, and the Group Deputy Managing Director, Chibundu Edozie, were taken to court early on charges...

FG Constitutes Committee On Export Promotion

2 months ago /

The federal government has constituted a national committee on export promotion. The committee is expected to support the economic diversification of the country as well as work with various institutions and states that could take ownership of export process. This was one of the decisions reached at the national economic council on...


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