By Our Correspondent The Director-General of the Debt Management Office, Ms Patience Oniha, says Nigeria’s public debt stock is growing out of sustainability. Oniha, made the declaration at the annual conference of the Capital Market Correspondents Association of Nigeria (CAMCAN), weekend in Lagos. She said that Nigeria was now facing the risk of being unable […]
By Our Correspondent The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has supported 90 entrepreneurs in the Federal Capital Territory (FCT) with equipment to promote youth engagement in productive ventures. The Director-General of SMEDAN, Mr Olawale Fasanya, announced this at the closing ceremony of a four-day National Skills Development Initiative (NBSDI) held at […]
By Oluwashina Iyanda The Nigerian economy sustained its growth performance in the first half of 2022 as its real gross domestic product (GDP) grew by 3.11 per cent from 0.51 per cent in the corresponding quarters of 2021. This is contained in the Half-Year-Activity Report of the Financial Department of the Central bank of Nigeria […]
By Our Correspondent The Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed import bottlenecks and showering foreign exchange challenges to the current scarcity of petrol. Mr Mike Osatuyi, the Operations Controller of lPMAN, announced this to newsmen in Lagos on Sunday. Osatuyi said this became necessary to inform the general public against the backdrop […]
By Oluwashina Iyanda Nigeria‘s Gross Domestic Product (GDP) dropped by 1.78 per cent in the third quarter of 2022 from its level in the corresponding period in 2021. The GDP grew by 2.25 per cent in real terms in the third quarter of 2022 against the 4.03 growth rate recorded in the third quarter of […]
By Oluwashina Iyanda President Muhammadu Buhari, on Wednesday in Abuja, unveiled the new naira notes as proposed by the Central Bank of Nigeria (CBN). Buhari unveiled the new banknotes before the weekly Federal Executive Council (FEC) meeting at the state house, Abuja. Governor of the apex bank, Godwin Emefiele, was in attendance during the ceremony. […]
President Muhammadu Buhari says his administration has attracted over $3 billion in investment in the Oil and Gas Sector. Mr Femi Adesina quoted Buhari as stating this at the inauguration of the Kolmani Integrated Development Project in Bauchi. Such investment, he said, is coming at a time of near-zero appetite for investment in fossil energy. […]
By Our Correspondent Mallam Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Corporation (NNPC) Ltd., has challenged stakeholders to exploit the country’s huge oil and gas resources to boost the economy. Kyari spoke at the ongoing 40th annual international conference and exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos […]
By Our Correspondent The House of Representatives Committee on Public Procurement has rejected the N58 million capital allocation in the 2023 budget proposal for the Bureau of Public Procurement (BPP). Rep. Nassir Ahmed, Chairman of the Committee rejected the budget proposal when Mr Mamman Ahmadu, Director General of BPP appeared before the committee to defend […]
The Association of Bureaux Des Change Operators of Nigeria (ABCON) says the nation’s currency, Naira, has continued to firm against the Dollar at the parallel market as date for the introduction of new currency notes draw nearer. Alhaji Aminu Gwadabe, President (ABCON), told newsmen on Wednesday in Lagos that there is growing return to sanity […]