Amidst the so-called “harsh economy” which has necessitated a poor living condition for most Nigerians, suffice to say that there are still small businesses which can yield an appreciable return on investment (ROI) when viewed against the backdrop of lucrative startups in the country. However, in the day-to-day running of business, players in … [Read more…]
The Central Bank of Nigeria CBN Governor, Mr Godwin Emefiele, Tuesday disclosed that the $110million weekly allocation and sale of foreign exchange to Bureau De Change (BDC) operators in the country has stopped. The Governor, who made the disclosure at a media briefing shortly after the July Monetary Policy Committee (MPC) meeting of the … [Read more…]
By Magnus Emuji Delta State Governor, Senator Ifeanyi Okowa, has underscored the importance of tourism development towards reducing unemployment in any society. Okowa stated this in Asaba in a keynote address during the launching of Senior Secondary Tourism Books for written by the Chairman of the Board of Directors in … [Read more…]
A report by a committee of the House of Representatives has recommended the arrest of the Central Bank of Nigeria (CBN) Governor Godwin Emiefele, Nigeria National Petroleum Corporation (NNPC) Group Managing Director Mele Kyari and 52 other heads of government agencies for gross violation of the provisions of the Financial Regulatory Council on rendition … [Read more…]
The naira exchanged to the dollar at 503 at the parallel market on Friday according to the Bureau de Change operators. Figures obtained from naijbdcs.com, the official website for the licensed BDCs by the Central Bank of Nigeria showed that the naira was bought and sold for 502 and 503.5. The naira … [Read more…]
NIGERIA is an emerging market, middle income and mixed economy, and is ranked the 27th largest economy in the world. It has the largest natural gas economy in Africa and is also the largest oil and gas producer in the continent. The country had a good head start with a well-defined First National … [Read more…]
Nigerians are leveraging the recently launched Economic Community of West African States (ECOWAS) Trade Promotion Organizations (TPOs) to draw from the N50 billion Export Expansion Facility Programme (EEFP) aimed at increasing the volume of non-oil trade within the region. The Executive Director of the Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo, … [Read more…]
The country’s external reserves lost $180m in two weeks, the latest figures obtained from the Central Bank of Nigeria showed on Sunday. According to the figures, the reserves, which stood at $33.28bn on July 1, dropped to $33.09bn as of July 12 before gaining slightly to rise to $33.1bn on July 15. The … [Read more…]
The Federal Government, in alliance with the government of Japan and the United Nations Industrial Development Organisation (UNIDO) on Tuesday, unveiled a study that will solve the problem of plastic waste pollution in Nigeria by providing innovative packaging and recycling technologies and alternative materials to plastics. The research project titled “Nigeria’s Study on Available … [Read more…]
The Federal Government has lashed out at some Nigerians critical of the Muhammadu Buhari administration’s penchant for foreign loans, assuring the government has not signed away the nation’s sovereignty in loan commitment to China. Speaking to Daily Sun in Abuja, Minister of Works and Housing, Mr Babatunde Fashola, said that the government has always … [Read more…]
Senate, yesterday, approved President Muhammadu Buhari’s request for ongoing external loans to the tune of $8,325,526,537 and €490,000,000 under the 2018-2020 External Borrowing (Rolling) Plan. The approval followed the consideration of a report on the 2018 to 2020 External Borrowing (Rolling) Plan by the Committee on Local and Foreign Debt. Chairman of … [Read more…]
The Trade Union Congress (TUC) has asked the Federal Government to stop mortgaging the future of Nigerians by taking many foreign loans. The congress urged the government to look inwards by harnessing the country’s natural endowments for its financial needs. TUC’s National Treasurer, who doubles as President-General of the Senior Staff Association of … [Read more…]