Nigeria
Vai alla Scheda Paese »A man of worth never gets up to unsay what he said yesterday.
— Chinua Achebe
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Lagos CP promises to reduce crime by 30%
Samson Folarin The new Commissioner of Police in Lagos State, Edgal Imohimi, has promised to reduce crime rate by 30 per cent in two months. He said any policeman caught in any unethical act would bear the full weight of the law. Imohimi, who released 10 dedicated lines for members ...
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Naira closes at 365/dollar despite CBN interventions
Oyetunji Abioye The naira closed at 365 per United States dollar at the parallel market on Wednesday, the same rate it closed on Tuesday. This was despite the Central Bank of Nigeria’s injection of $250m in the foreign exchange market on Tuesday. The naira had traded flat at 365/dollar on ...
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Recession is over. The pains? Not so fast
Nigerians will have to wait for more time for the benefits of the economy’s recovery from recession. Stakeholders warn against taking the exit for an end. It is only a means to an end, they explain. In this report, they suggest what the government must do to sustain and strengthen ...
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$8.5bn Sold On I&E Window Boosts Confidence, Naira Value
By Bukola Idowu, Lagos Since its inception in April this year, the Nigerian Autonomous Foreign Exchange market (NAFEX), known as the Investors’ and Exporters’ foreign exchange window has seen an inflow of over $8.5 billion, complementing the several interventions of the Central Bank of Nigeria (CBN). The inflow from the ...
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FG offers tax holidays, duty waivers to mining investors
Everest Amaefule, Abuja The Federal Government has offered tax holidays and duty waiver on imported mining equipment to foreign investors that invest on the nation’s mining industry. Minister of Mines and Steel Development, Dr. kayode Fayemi, conveyed the offer while speaking on ‘Mining for Shared Prosperity: Why Nigeria, Why Now?’ at ...
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We’ll grow economy as rapidly as we can – Udoma
Ifeanyi Onuba, Abuja The Minister of Budget and National Planning, Senator Udo Udoma on Wednesday said that with the exit of the economy from recession, the task ahead is to grow the economy in a rapid manner. Udoma who said this while reacting to the Gross Domestic Product growth rate ...
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Recession exit : Nothing to celebrate, PDP tells Federal Government
Olusola Fabiyi, Abuja Main opposition party, the Peoples Democratic Party, has said there is nothing to celebrate concerning Nigeria’s exit from recession, as contained in a recent statement by the Nigeria Bureau of Statistics second quarter Gross Domestic Product report. The report had shown a growth of the economy for the ...
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Recession exit report not doctored – Kale
Ifeanyi Onuba, Abuja The National Bureau of Statistics on Wednesday said that its Gross Domestic Product report which showed that Nigeria exited recession in the second quarter was not politically motivated. The Statistician-General for the Federation and Chief Executive, NBS, Dr Yemi Kale stated this during a chat with journalists in Abuja. ...
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You broke the law, Ngige lambasts striking doctors
Eniola Akinkuotu, Abuja The Minister of Labour and Employment, Senator Chris Ngige, has berated members of the National Association of Resident Doctors for embarking on strike, accusing them of breaching the constitution. Ngige said this at a mediation meeting which is ongoing at the Federal Secretariat, Abuja. The minister said ...
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Nigeria: Teriba - the Largest Investment Opportunities Are Under Govt Control
[This Day] The federal government has been advised to sustain the momentum away from recession through the implementation of policy reforms that are capable of replacing the income the country lost during the five quarters of recession through investments.
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Nigeria: The Imperatives of Attracting Investment
[Guardian] Economists are unanimous in their view that local and foreign direct investments are key to a nation's economic growth. Investment is particularly needed to complement economic growth and in the transfer of appropriate technology, the transfer of knowledge and access to foreign markets. Moreover, every level of investment is ...
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Nigeria: Obaseki Embarks On Investment Drive in Indonesia
[This Day] Benin City -In a bid to revamp the agriculture sector; create jobs and reposition the state as the palm oil hub of the country, the Edo State Governor, Mr. Godwin Obaseki, is currently in Indonesia to deepen his administration's partnership with the Asian country.
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‘Nigeria spends N722bn on expertise importation’
The Managing Director of Air Peace Limited, Mr. Allen Onyema, has said that the aviation industry loses over N722.8bn ($2bn) annually to import technical expertise. Onyema said the development was one of the factors weakening the naira and adversely affecting the economy as it was making a high demand on ...
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Nigeria summons South Africa envoy over police killing claim
Nigeria on Tuesday summoned South Africa’s envoy over allegations that South African police suffocated a Nigerian national to death while he was in custody. The Nigerian foreign ministry said Kingsley Ikeri, a 27-year-old living in South Africa’s eastern Kwazulu-Natal province, had been “suffocated to death by the South African police ...
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Clark berates Kanu over Biafra, condemns Arewa quit notice
Elder statesman Edwin Clark on Tuesday condemned the Biafran agitation led by Nnamdi Kanu. He also condemned the notice to quit by the Arewa youth group to Igbo in the North, saying it was worrisome. The News Agency of Nigeria reported that Clark made this known when the Chairman, Senate ...
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Exit from recession fails to lift stocks
Stanley Opara Despite Nigeria exiting recession on Tuesday, the equities market closed in the red, shedding N35bn. On the release of the second quarter Gross Domestic Product data, the market opened this week’s trading with a loss as Seplat Petroleum Production Company Plc, Julius Berger Nigeria Plc, Lafarge Africa Plc, ...
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Nigeria’s exit from recession: GDP growth weak, dependent on oil sector – Economists
Oyetunji Abioye Economic experts and analysts on Tuesday welcomed the 0.55 per cent Gross Domestic Product growth rate recorded by the Nigerian economy in the second quarter of this year, which meant that the country had exited recession. They, however, expressed concern that the economic growth rate was weak and ...
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CJN, Okonjo-Iweala, Fayemi, Fayose, others under probe –EFCC
The Economic and Financial Crimes Commission has said the Chief Justice of Nigeria, Justice Walter Onnoghen; Governor Ayodele Fayose of Ekiti State; his predecessor and the current Minister of Solid Minerals Development, Dr. Kayode Fayemi; and the immediate past Minister of Finance, Dr. Ngozi Okonjo-Iweala, are among high-profile personalities currently ...
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Buhari, economists, others caution against celebrating Nigeria’s exit from recession
Akinpelu Dada, Eniola Akinkuotu, Ifeanyi Onuba and Anna Okon The news that the nation exited its worst recession in 25 years was received with cautious optimism by a cross section of Nigerians on Tuesday, with many economists and analysts saying the 0.55 per cent growth in the Gross Domestic Product ...
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CBN injects fresh $250m to lift naira
Oyetunji Abioye The Central Bank of Nigeria on Tuesday injected $250m into the various segments of the inter-bank foreign exchange market, in order to lift the naira against other major currencies. Figures obtained from the CBN indicated that the Retail Secondary Market Intervention Sales segment of the market received the ...
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Economic Growth: Don’t lower your guard- Buhari
Senate, House of Reps excited Nigeria is out of recession, it has been announced. But President Muhammadu Buhari and economists, who are as excited as many Nigerians, are cautious, saying we should not lower our guard. The National Bureau of Statistics (NBS) in a Gross Domestic Product (GDP) Report for Second ...