The Lagos Chamber of Commerce and Industry (LCCI) says the mounting inflationary pressure reported in the November 2020 was expected, given the prevailing economic conditions and escalating cost environment. Dr Muda Yusuf, Director-General, LCCI made the assertion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. NAN reports that the Read More…
The International Monetary Fund (IMF) mission to Nigeria says exchange rate and monetary policy reforms, increased revenue mobilisation and structural reforms will unlock Nigeria’s growth potential. The team lead, Ms Jesmin Rahman, said this in a statement issued on Friday in Washington D.C at the conclusion of the virtual mission. The mission was conducted from Read More…
The United Nations Development Programme (UNDP) has called on African governments to seek more creative ways of harnessing the economic potentials of the informal sector to deepen resilience in their economies. Mr Raymond Gilpin, Chief Economist and Head of Strategy, Analysis and Research at UNDP Africa, said this on Tuesday at a news briefing on Read More…
President Muhammadu Buhari on Friday declared the 2020 edition of the Lagos International Trade Fair open, reiterating the Federal Government’s commitment to revamping Nigeria’s Industrial Revolution Plan (NIRP). The trade fair, which is being promoted by the Lagos Chamber of Commerce and Industry (LCCI), will be on till Dec. 13. The fair, the 34th edition, Read More…
The Transmission Company of Nigeria (TCN) says it has restored the collapsed electricity grid system across the country. The Acting Managing Director of TCN, Mr Sule Abdulaziz, made this known while addressing newsmen in Abuja on Wednesday. Abdulaziz said the system which collapsed on Sunday evening was restored within 40 minutes of the incident. He Read More…
The Federal Government generated N416.01 billion as Company Income Tax (CIT), the National Bureau of Statistics (NBS) says. The bureau said this in its “Company Income Tax by Sectors 2015 – Quarter Three (Q3 2020)’’ obtained from its website on Thursday in Abuja. It said that the amount was against N402.03 billion generated in Quarter Read More…
Nigeria is ready to reopen its land borders to trade for the first time in more than a year after closing them to try to stamp out smuggling, the finance minister said on Wednesday. Finance Minister Zainab Ahmed said those involved had learned from the closure and worked together on joint border patrols. “We will Read More…
The Lagos Chamber of Commerce and Industry (LCCI) says accelerated domestic refining and processing of petroleum products would end the unstable petroleum pricing in the country, Dr Muda Yusuf, Director-Genera of the Chamber, said in an interview with the News Agency of Nigeria (NAN) on Saturday in Lagos. He explained that this action was necessary Read More…
Mr Adeniyi Adebayo, Minister of Industry, Trade and Investment, says the Federal Executive Council’s approval of ratification of African Continental Free Trade Area (AfCFTA) agreement demonstrates, globally, Nigeria’s economic leadership position on the continent. FEC on Wednesday approved the ratification of the AfCFTA agreement which Nigeria signed on July 7, 2019, in Niamey during the Read More…
The Lagos State Government says it is targeting a performance level of at least 86 per cent of the year 2020 budget at the end of the fourth quarter. Gov. Babajide Sanwo-Olu said this during the presentation of the 2021 Appropriation Budget at the Lagos State House of Assembly, Ikeja. Sanwo-Olu said that at the Read More…
