Economy

President Muhammadu Buhari has performed the virtual ground-breaking of Nigeria Liquefied Natural Gas (NLNG) Train 7 in Bonny Island, Rivers State to enable the Train 8 to take-off. He urged the Board of Directors, management and staff of NLNG, the host communities, the Rivers State Government and other Agencies of…

Check if Buhari's score card is healthy after six years as President of Nigeria.

Financial economists have continued to commend the decision taken by the Monetary Policy Committee of the Central Bank of Nigeria (CBN), to retain Monetary Policy Rate (MPR) at 11.5 per cent. The experts made the commendations in Lagos. The Monetary Policy Committee of the CBN voted unanimously to retain the…

Loveth Okoli The World Bank has reported that remittance inflows to Nigeria declined by 28 per cent in 2020 because of COVID-19 pandemic. The Bank also said remittance flows to Sub-Saharan Africa dropped by 12.5 per cent. According to World Bank’s Migration and Development Brief 33 Phase 11 entitled: “COVID-19…

Vice President Yemi Osinbajo has affirmed Nigeria’s “extremely’’ bright economic future, which cannot be aborted despite current challenges. He rendered the optimism at first in sub-Saharan Africa and one of the three cutting-edge smart card manufacturing based in Lagos. Osinbajo who toured the SecureID company’s premises, also said: “The economic…

Tanko Mohammed Dangote Group of Companies has said that the company do not own or affiliate with the International Container Terminal Services Inc. (ICTSI). Mr Anthony Chiejina, Group Chief, Branding and Communications, Dangote Group, disclosed this in a statement made available to newsmen in Lagos. Chejina said the group attention…

Tanko Mohammed The Nigeria Sovereign Investment Authority (NSIA) says it had a strong year in 2020, recording N160.06 billion in total comprehensive income amounting to 343 per cent growth compared to N36.15 billion in 2019. Mr Uche Orji, the Managing Director, revealed this in a virtual media conference on the…

The Lagos State Government says residents of the state are consuming food and agricultural produce worth about N5 trillion annually. Ms Abisola Olusanya, the Commissioner for Agriculture, made this known at a news conference on Thursday in Lagos to commemorate the second year in office of Gov. Babajide Sanwo-Olu’s administration.…

Loveth Okoli The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefele, says Nigeria is targeting to attain self-sufficiency in maize production by 2022. Emefele made the disclosure on Thursday in Katsina at the launch of the 2021 maize wet season farming and first maize pyramid in Nigeria. He…

President Muhammadu Buhari has approved the suspension of the Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman. The President also approved the setting up of an Administrative Panel of Inquiry to investigate the management of the Authority. The approvals were based on the recommendations of the Ministry of…