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Economy
NSE Sustains Positive Momentum With 0.10% Growth
The Nigerian Stock Exchange (NSE) on Thursday sustained positive momentum with a growth of 0.10 percent.
SEE ALSO: Libyan Airlines Resume Flights To Tunisia
Specifically, the All Share Index inched higher by 34.00 points or 0.10 per cent…
“Over borrowing Is One Of The Reasons Nigeria Is Currently In Recession”- Don
Prof. Park Idisi, the Dean, Faculty of Agriculture, University of Abuja, says over borrowing is one of the reasons Nigeria is currently in recession.
SEE ALSO: Banking Sector: e-payment hits N34.02 trn in Q1, 2019 – NBS
Idisi made this…
Governor Emefiele And His Parallel Foreign Exchange Universe
At today’s Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN), the MPC communicated its decision to keep all monetary parameters unchanged from its previous meeting.It appears to be a tacit admission by the…
Despite Recession, Lai Mohammed claims “Nigeria’s economy is well under…
Minister of Information, Lai Mohammed has made wild claims concerning the well-being of Nigeria's economy despite recession.Meanwhile, figures released by the National Bureau of Statistics (NBS) on Nov 21 showed that the…
“Banks you regulate use parallel market rates” – Nigerians react to…
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has taken a swipe at economic analysts relying on the parallel market to determine the foreign exchange rate.He spoke Tuesday during a virtual monetary policy committee…
NSE Opens Week With 0.04% Loss
The domestic equities market on Monday extended its losing streak with the All-Share Index dropping by 0.04 percent, as the country officially entered recession.
SEE ALSO: COVID-19: Africa’s Confirmed Cases Now Over 1.93m
Specifically,…
COVID-19 Caused Recession – Buhari
As Nigeria slips into recession for the second time in five years, President Muhammadu Buhari, says it came about because of the severity of the global downturn caused by the COVID-19 pandemic.He said this on Monday in Abuja,…
Recession: Cut cost of governance now – SERAP tells Buhari
The Socio-Economic Rights and Accountability Project (SERAP) has appealed to President Muhammadu Buhari to cut the cost of governance and implement bold transparency and accountability measures following the nation's slip into a second…
Recession: Nigeria needs necessary but painful actions – By Atiku Abubakar
It is with a very heavy heart that I received the confirmation that for the second time in five years, Nigeria has entered into another recession. Heaviness of heart, because this could have been avoided had this administration taken heed…
NECA Calls for Immediate Economic Recovery Effort in View of Released GDP
The Nigeria Employers’ Consultative Association (NECA) has called for urgent economic recovery effort in view of the Gross Domestic Product (GDP) data released by the National Bureau of Statistics (NBS).NECA’s Director-General, Dr…
Recession: Expert Seeks Aggressive Implementation of Economic Sustainability Plan
Uche Uwaleke, Professor of Finance and Capital Market, has called for early passage of the 2021 Appropriation Bill and aggressive implementation of the Economic Sustainability Plan (ESP), as the country enters recession.…
Agbakoba suggests path to Nigeria’s economic growth
A Senior Advocate of Nigeria (SAN), Dr Olisa Agbakoba, has said that for Nigeria to experience rapid economic growth there is the need for some agencies of the Federal Government to come together and harness their potentials.“I like to…
Buharinomics blamed as Nigeria enters 2nd recession since 2016
Figures released by the National Bureau of Statistics (NBS) show that the nation has slid into into its second recession in five years, having recorded its second quarterly GDP decline in 2020.According to the figures, Nigeria's Gross…
Minister Seeks Foreign Direct Investment for Speedy Economic Recovery
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo has solicited Foreign Direct Investment in the development of Special Economic Zones (SEZ) in the country.In his address at the Nigerian in Diaspora…
NSE Records 1.46% Loss Due To Banks Unimpressive Q3 Results
The Nigerian Stock Exchange market indicators on Friday dropped further by 1.46 per cent due to unimpressive third quarter results released by some banks.
SEE ALSO: Oando Tank Farm Fire: LASEMA Urges calm, says Fire Under Control
The…
Stakeholders Urge FG to Shift Attention From Crude Oil to Bitumen Exploration
Stakeholders in Ogun and Ondo State have urged the Federal Government to shift attention from crude oil to bitumen exploration to generate more foreign exchange and boost the nation’s economy.In Edo they decried the lack of…
Cement Price Drops By 25% in Enugu
The price of cement has dropped with about 25 per cent in Enugu, a market survey by the News Agency of Nigeria (NAN) has revealed.A visit to some markets on Friday in Enugu, revealed that a 50kg bag of Dangote cement…
Adebayo: FG begins drafting national MSME policy
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, says the Federal Government has embarked on the development of a draft national policy on Micro, Small and Medium Enterprises (MSMEs).Adebayo, in a statement by his…
Health Minister Lays Foundation of Borno State Teaching Hospital
The Minister of Health, Dr Osagie Ehanire, on Thursday, laid the foundation of the Teaching Hospital of Borno State School of Health Sciences at Njimtilo, near the university’s campus on Maiduguri-Damaturu road.Ehanire, who…
NSE Market Capitalisation Dips By N91bn
Activities on the Nigerian Stock Exchange (NSE) closed bearish on Thursday with the market capitalisation losing N91 billion due to profit-taking on banking stocks.
SEE ALSO: Stock Trading in Nigeria
Specifically, the market…
Gov. Aminu Masari Presents N282.7bn Budget for 2021
Gov. Aminu Masari of Katsina State, on Wednesday presented a budget proposal of N282.7 billion for 2021 fiscal year to the state House of Assembly for consideration.
Masari, while presenting the appropriation bill christened “Budget of…
Q3-2020: Afreximbank’s African Commodity Index Declines Moderately
The African Export-Import Bank (Afreximbank) says that in its Quarter Three 2020 (Q3-2020) reading of the Afreximbank African Commodity Index (AACI), its composite index fell marginally by one per cent quarter-on-quarter.It made this…
Dangote Urges Private Sector Players to Commit 1% of all Profits to Fund Health
...To sponsor Bill to National Assembly
Market Survey: Prices of Foodstuffs Soar in Kano, Sokoto
Notwithstanding the commencement of the harvest season, prices of foodstuffs have gone up about 40 to 60 per cent in Kano, Sokoto and Kaduna states, a market survey by the News Agency of Nigeria (NAN) has revealed.…
FG’s Earnings Reduce by 60%, Amidst Low Oil Prices – Minister
Minister of State for Petroleum Resources, Mr Timipre Sylva, says Federal Government’s earnings, from oil and non-oil sectors coupled with low revenue receipts from the Federal Inland Revenue Service (FIRS), have dropped by 60 per…
IPMAN Warns Motorists against Panic Buying
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned motorists against panic buying, assuring that there is enough fuel on ground.Alhaji Suleiman Yakubu, IPMAN National Public Relations Officer said that the…
Inflation: NACCIMA Urges FG to Speed Up Implementation of Stimulus Packages
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) wants government to accelerate effective implementation of all stimulus packages and interventions funds to support the production processes of the…
Palm Oil Price Further Increases in Enugu Markets
The price of palm oil has further increased in major markets across Enugu metropolis, the News Agency of Nigeria (NAN) reports.A market survey conducted by NAN on Saturday revealed that the price of palm oil has again…
Bulls On Rampage, NSE Market Indices Up 6.23%
The bulls continued to dominate activities on the Nigerian Stock Exchange (NSE) with the All-Share Index rising above the set five per cent threshold to trigger circuit breaker.
SEE ALSO: World Bank Grants Morocco $150m Loan
Speficially,…
2021 budget: N4bn allocation to Auditor-General’s office meagre – Senate
The Senate has described as meagre the N4.47 billion budgeted for the Office of the Auditor-General of the Federation (OAGF) in the 2021 budget.Chairman, Senate Committee on Public Accounts, Senator Matthew Urhoghide (PDP - Edo) with…