The Lagos Chamber of Commerce and Industry (LCCI), has said that a reversal of the current reforms on subsidy of Premium Motor Spirit (PMS) would exacerbate the challenges of the already faltering Nigerian economy. Dr Muda Yusuf, Director-General LCCI made the assertion in a statement to newsmen on Sunday in Lagos. Yusuf said the current Read More…
Lagos State Government on Sunday unveiled plans for the 2020 Lagos Economic Summit, popularly known as EHINGBETI. Mr Sam Egube, Lagos State Commissioner for Economic Planning and Budget, said at a media interaction in Lagos that the summit had been resuscitated by Gov. Babajide Sanwo-Olu for enhanced economic growth and development. Egube said that the Read More…
The Central Bank of Nigeria (CBN) on Monday announced reduction of the Monetary Policy Rate (MPR) from 12.5 per cent to 11.5 per cent. Mr Godwin Emefiele, the CBN Governor made the announcement while presenting the communiqué the 275th Monetary Policy Committee (MPC) meeting on Tuesday. Emefiele said that the decision to reduce the MPR was Read More…
As the portal for the registration of prospective beneficiaries for the Survival Fund opens on Monday, the Federal Government has released the timetable for categories of businesses to register. A statement issued in Abuja on Sunday by the Project Delivery Office stated that the portal which opens at 10 PM, will have educational institutions as Read More…
The Federal Government has congratulated Dr Akinwumi Adesina, President of African Development Bank (AfDB) Group on his re-election as the eighth president of the bank for a second term. The congratulatory message was delivered by Mrs Zainab Ahmed, Governor of Nigeria to AfDB, and Minister of Finance, Budget and National Planning on Tuesday. Ahmed said Read More…
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 oil prices taking their toll. The Read More…
The Lagos Chamber of Commerce and Industry (LCCI) has hinged the 6.1 per cent Gross Domestic Product (GDP) contraction according to the National Bureau of Statistics (NBS) on the socio-economic disruptions of COVID-19 pandemic. Dr Muda Yusuf, Director-General LCCI made this known in an economic report released to newsmen on Monday in Lagos. Yusuf noted Read More…