Business Economy Top Story

W/Bank projects Nigeria’s growth to strengthen by 2.5% in 2022

Reading Time: 4 minutes As the global economy enters a pronounced slowdown amid fresh threats from COVID-19 variants and others, Nigeria’s growth is projected to strengthen to 2.5 per cent in 2022 and 2.8 per cent in 2023. The World Bank said this in Washington at the presentation of its January 2022 Global Economic Prospects report. According to it, Read More…

Business Economy Featured

FG generates N424.71bn VAT in Q3 2020-NBS

Reading Time: 2 minutes The National Bureau of Statistics (NBS), says the Federal Government generated N424.71 billion as Value Added Tax (VAT) in the third quarter (Q3) of the year as against N327.2 billion generated in the second quarter (Q2). NBS made this known in its “Sectoral Distribution of Value Added Tax Data for Q3 2020”, released on Monday Read More…

Business Economy Featured

Govt promises simpler regulations to improve ease of doing business

Reading Time: 4 minutes Image Credits: REUTERS/Akintunde Akinleye. Dr Nasir Sani-Gwarzo, Permanent Secretary, Federal Ministry of Industry, Trade, and Investment (FMITI) says the nation will soon have better, simpler regulations for business and stronger protection of property rights. Sani-Gwarzo said this was to ensure ease of doing business in the country. He gave the assurance at a Sensitisation Workshop Read More…

Business Featured SMEs

FG receives 38,000 applications for N75bn MSME survival funds

Reading Time: 2 minutes Image Credits: Utibe Etim, Nairametrics. Minister of State for Industry, Trade and Investment, Mrs Mariam Katagum, says government had received 38,000 applications for the N75 billion Micro, Small and Medium Enterprises (MSME) survival funds. Katagum made this known in her opening remarks at a Business Advocacy Roundtable webinar by the Nigerian-British Chamber of Commerce (NBCC) on Tuesday. According Read More…

Business Economy Top Story

Nigeria’s economy shrinks 6% in Q2 on oil crash, pandemic double whammy

Reading Time: 2 minutes Image Credits: REUTERS, REUTERS/Joe Brock . Nigeria imposed lockdowns in Lagos and Abuja in Q2 Oil sector contracted by 6.63% Nigeria is Africa’s largest economy Nigeria’s economy contracted by 6.1% in the second quarter of 2020 from a year earlier, the statistics office said on Monday, with lockdowns in its two main cities and low Read More…

Featured Planning

Finance Minister consults NASS leadership on 2021-2023 MTEF/FSP

Reading Time: 3 minutes Minister of Finance, Budget $ National Planning, Zainab Ahmed on Thursday met with the leadership of the National Assembly on plans to submit the 2021 to 2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) later in July. The Minister, while briefing principal officers of the Senate and House of Representatives led by the Read More…

Featured Planning

FG set to develop Agenda 2050, inaugurates Central Working Group

Reading Time: 2 minutes The Federal Government is set to develop the country’s”Agenda 2050 and a Medium-Term National Development Plan (MTNDP) 2021-2025 to coordinate sectoral approaches. The Minister of State, Federal Ministry of Finance, Budget and National Planning, Mr Clement Agba made this known while inaugurating a Central Working Group (CWG) for the programme on Wednesday in Abuja. This Read More…

Business Finance Top Story

N36.15bn added to Nigerian sovereign wealth fund in 2019

Reading Time: 2 minutes The Nigeria Sovereign Investment Authority (NSIA) recorded a Total Comprehensive Income (TCI) of N36.15 billion in 2019. Ms Stella Ojekwe-Onyejeli, the Executive Director and Chief Risk Officer at NSIA disclosed this at a virtual briefing (newsmen) on Friday in Abuja. Ojekwe-Onyejeli said the 2019 income was less when compared to the TCI for 2018 which Read More…

Business Top Story

Economists harp on diversification of economy from oil

Reading Time: 2 minutes An Economist, Prof. Akpan Ekpo, has advised that the Federal Government to do more to restructure the economy through industrialisation in favour of production, so that the country would earn more foreign exchange. Ekpo, a Professor of Economics, University of Uyo, gave the advice on Thursday in Lagos at a webinar organised by the Centre Read More…