economic

Nigerian Banks Nigerian Banks The Federal Government has admitted that the backlog of contractual debts and outstanding welfare issues like pensions valued at N2.7 trillion contributed the worsened Non-Performing Loans in the nation’s banking industry. With the development, the banking sector may be in for a treat once the process of payments for the outstanding, […]

Reps Investigate N11 Billion Disappearance of Petroleum Product….As Refineries Meet 60% of Domestic Kerosene Consumption The House of Representatives Committee on Petroleum Resources(Downstream) is investigating the disappearance of N11 billion worth of petroleum products belonging to the Nigerian National Petroleum Corporation(NNPC). The Committee Chairman, Hon. Joseph Akinlaja, stated this  at a 2-day Investigative Public Hearing […]Read More

The Central Bank of Nigeria (CBN) would issue N204.95bn in treasury bills at an auction on July 19, aiming to raise N36.78bn in three-month bills, N39.17bn in six-month paper and N129 billion in one-year bills. The CBN issues treasury bills twice a month to finance its budget deficit, curb money supply growth and provide an […]

NCS Logo NCS Logo The Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’ Ikeja, Lagos, has intercepted contraband with a Duty Paid Value (DPV) of N200.99 million between June and July. The Controller of the unit, Mohammed Garba, said this at a news conference on Wednesday in Lagos. According to Garba, the unit […]

stock market stock market The Nigerian Stock Exchange market capitalisation rose by N53bn at the close of trading on Wednesday as 29 stocks gained. A total of 270.855 million shares valued at N2.769bn were traded in 3,940 deals. The equities market recorded a 0.47 per cent gain at the close of trading, to settle the […]

Implementation of 2017 Budget is under threat by uncertainties in the global oil market, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said. Kachikwu told journalists on Wednesday in Abuja that the Ministry of Finance and the Federal Executive Council were, however, working on measures to cushion the impacts of the shortfall […]

Kemi Adeosun Kemi Adeosun Following recent reports on comments by the Minister of Finance about Nigeria’s debt strategy and ability to borrow, the Federal Government has said that it will continue to borrow and nothing has changed. In a statement by the Finance Ministry and signed by the Director of Information, Alhaji Salisu Nainna Dambatta […]

Yemi Osinbajo Yemi Osinbajo Acting President Yemi Osinbajo has approved the release of N1.6 billion from the Ecological Fund to 15 states affected in the recent flood witnessed across Nigeria. The Special Adviser to the President on Media and Publicity, Mr Femi Adesina, disclosed this to State House correspondents yesterday after the Federal Executive Council […]

The Nigerian National Petroleum Corporation (NNPC) has vowed that despite challenges in the downstream petroleum sector, it would leave no stone unturned to ensure adequate petroleum products availability in all parts of the Country. NNPC Group Managing Director, Dr. Maikanti Baru, stated this at the end of the 24th, 25th and 26th Annual General Meeting […]

Kemi Adeosun Kemi Adeosun The Minister of Finance, Mrs. Kemi Adeosun has said that Nigeria must not borrow more to fund its budget and should instead raise money internally to fund the budget.This is just as Acting President Yemi Osinbajo also solicited the co-operation of the private sector in the federal government’s quest for a […]

Acting President Yemi Osinbajo has said that President Muhammadu Buhari is in good spirit and recuperating very fast. He made the disclosure to State House correspondents just before entering the Council Chamber to start the weekly Federal Executive Council (FEC) meeting. Osinbajo, who left Nigeria on Tuesday to meet with President Muhammadu Buhari in the […]

Kemi Adeosun Kemi Adeosun The Minister of Finance, Mrs Kemi Adeosun has said that the Federal Government will consolidate on the progress it has made in the insurance sector by ensuring that all of its assets are adequately insured. She spoke at the ongoing National Insurance Conference in Abuja. The minister said foreign investors have […]