Tag: Economy
-
Lai’s daughter unveils fabrics in Lagos, as FG commits to diversification of economy
The Minister of State for Trade and Investment, Hajiya Aisha Abubakar, says the Federal Government is committed to the diversification of the economy to improve revenue and save foreign exchange. Abubakar made the remarks at a Lagos unveiling of Adire (tying & dying) fabrics by a fashion designer, Mrs Yejide Laguda, the daughter of the…
-
Democracy Day: Nigeria needs to change economy through ICT – Expert
Mr Gbenga Sesan, the Executive Director, Paradigm Initiative, an NGO says the country needs radical change through the use of Information Communication Technology (ICT) to improve the economy. Sesan said this in an interview with the News Agency of Nigeria on Monday in Abuja as the country is preparing to celebrate another Democracy Day on…
-
Nigerian economy maintains strong growth amidst decline in Q1 2018 – NBS
The National Bureau of Statistics (NBS) on Monday said the nation’s economy maintained a strong growth trend in the first quarter of 2018. This according to the bureau is despite a marginal decline by about -0.16 per cent from last quarter of 2017. The statistics agency said in the latest Nigerian Gross Domestic Product (GDP)…
-
How currency swap deal with China will boost Nigerian economy – CBN
The Central Bank of Nigeria (CBN) has said the Nigeria-China currency swap deal will help boost the nation’s economy as against fears in some quarters that it will stifle local companies and make the country a dumping ground for Chinese goods. The 41 items banned since 2015 will not be valid for the swap exchange,…
-
Atiku on NNPC: Buhari’s men display ignorance of modern economy – AASG
…Says Malaysia, Brazil and currently Saudi Arabia have privatized national oil companies The All-Atiku Support Group has blamed the criticism by the Buhari Media Organisation of the proposal by former Vice President Atiku Abubakar to privatize some aspects of the oil and gas sector as a display of poor knowledge about modern economic management. The…
-
Banks’ credit to economy dipped by N136bn in Q1 – NBS
The total credit from banks to the economy recorded a decline of N135.8bn from N15.74tn at the end of the fourth quarter of last year to N15.6tn in the first three months of 2018. This is contained in the banking sector report released by the National Bureau of Statistics on Monday. The NBS stated that…
-
Naira/Yuan swap: A major Chinese footprint on Nigeria’s economy, By Henry Boyo
By Henry Boyo “Central Banks, the world over, have responsibility for ensuring that a nation’s currency reserves are held in instruments, which would protect the domestic value of income and savings. Indeed, every CBN Governor recognises this responsibility, but the actual spread of such holdings were never clearly defined, while the dollar remained the CBN’s…
-
Buhari managed Nigeria’s economy better than Jonathan, Obasanjo, others – Ajimobi
Governor Abiola Ajimobi of Oyo State has stated that no other president in the country has managed the nation’s economy better than President Muhammadu Buhari. The governor spoke in Ibadan on Friday evening while receiving members of the National Congress Committee of APC at the Government House. The committee led by Musa Aliyu were in…
-
Nigeria’s economy to grow by 2.1 per cent before year end – IMF
Nigeria’s economy which grew by 0.8 per cent in 2017 will end this year, with a 2.1 per cent growth, the International Monetary Fund (IMF) has predicted. It, however, projected a slow down to 1.9 per cent growth next year, in its latest World Economic Outlook (WEO) Report launched in Washington DC, United States where…
-
Nigeria’s economy attracted N20.89tn investments in five years – NBS
Nigerian economy attracted a total investment inflow of $68.5bn (N20.89tn) between 2013 and 2017, figures obtained from the National Bureau of Statistics have revealed. An analysis of the capital importation report made available to our correspondent on Friday showed that investment inflows came from three main sources. They are Foreign Direct Investments made up of…