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    Nigeria Inflation Grows To 18.4% In October – NBS

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    Nigeria’s inflation rate grew geometrically in September as Consumer Price Index (CPI) rose by 0.48% bringing the figure to a total of 18.4 per cent at the end of October 2016. This is higher than the 17.9 per cent recorded in the previous month. “The Consumer Price Index (CPI) which measures inflation increased by 18.3…

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    FG Will Revisit Tax Holidays, Waivers – Osinbajo

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    Vice President, Professor Yemi Osinbajo has said that though there might be challenges with the present duty waivers and tax regimes in the country, the federal government is working hard to correct the wrongs with the view to encouraging the growth of small businesses and attracting foreign investments. Speaking at a forum on job creation,…

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    Economic Summit: FG To Promote Production, Consumption Of Local Goods

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    Minister of Budget and National Planning, Senator Udoma Udo Udoma, has disclosed that the Federal Government is working with the private sector and relevant stakeholders to encourage production and consumption of Made-in-Nigeria goods and services even as the vice president, Prof. Yemi Osinbajo described Dangote Group as a game changer to the Nigerian economy. Speaking…

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    General Electric Plans N46.8bn Investment In Nigeria

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    United States industrial firm, General Electric (GE.N), yesterday announced its plans to invest $150 million (N46.8 billion) in some development projects in Nigeria by 2017. Chief executive of General Electric in Africa, Jay Ireland, told the FT Africa Summit in London that GE would also invest in oil and gas industry projects. Ireland said the…

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    Abuja Pension Summit And Prospects For Nigeria

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    By Mbakaan Kwen, Abuja The World Pension Summit ‘Africa Special’ is an annual specialised Summit for Africa. The summit, which is jointly planned with the National Pension Commission of Nigeria (PenCom) brings together African pension professionals to share ideas and brainstorm on specific African pension innovations, key scenarios, and scheme developments. The first Africa Special…

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    Experts Urge FG To Prioritise Capital Spending In 2017 Budget

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    The federal government in collaboration with the ministry of Budget and National planning are working hard to revamp the economy out of recession. During a retreat in Abuja themed: “Building Inter-Ministerial Synergy for Effective Planning and Budgeting in Nigeria”, President Muhammadu Buhari expressed the need for cabinet members to think “out of the box” and…

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    FG Injects Fresh N350bn To Boost Economy

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    The federal government will next week release the sum of N350bn for capital projects captured in the 2016 budget for capital expenditure in its efforts to tackle the economic recession currently facing the nation. The Minister of Finance, Mrs. Kemi Adeosun, who announced this yesterday also said that the administration was working hard to raise…

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    N304bn Mopped Up From Financial Markets

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    A total of N304.23 billion was on Wednesday mopped up from the Nigerian financial market through the sales of Federal Government Bonds and treasury bills, the Debt Management Office said yesterday. According to the debt office, N121 billion was raised at an auction of local currency bonds while N183.23 billion was raised through the sales…

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  • FG Approves External Borrowing For Nigeria

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    The federal government has approved plans for external borrowing from the World Bank, China and Japan. The debt will come from institutions including the World Bank, African Development Bank, Japan International Cooperation Agency and Export-Import Bank of China, the presidency commented on Twitter. It states that focus will be on “low-cost, long-term” loans with interest…

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    MTN Targets N313.3bn Proceeds From Nigerian IPO

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    MTN Group Ltd., Africa’s giant wireless operator is planning to raise about $1 billion (N313.3 billion) in an initial public offering (IPO) at the Nigerian Stock Exchange (NSE), a condition tied to the settlement of a record fine imposed by the Nigerian Communications Commission (NCC). The mobile operator is proposing to whittle down the equity…

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