economic

NCS Logo Customs Impound Contraband Valued N1.59bn  The Federal Operations Unit of the Nigeria Customs Service (NCS) intercepted various contraband with a Duty Paid Value (DPV) of N1.59 billion between Nov. 1 to Nov. 30 The Customs Area Controller (CAC) of the unit, Comptroller Garba Mohammed, said this when he conducted newsmen round Customs’ warehouses […]

Aliko Dangote on the Nasdaq Tower in Times Square, New York Aliko Dangote is the only African on the Bloomberg 50 list of this year’s most influential people. A photo of Aliko Dangote was displayed on Wednesday on the Nasdaq Tower in Times Square, New York after Aliko Dangote was selected as the only African on the […]Read More

Still on Losses, Bad Loans and Debts By Rahma Oladosu Recent media reports have indicated that Nigeria has lost huge revenues from various  segments of the economy, including the agricultural and financial services sectors.  For instance, the Federal Government has spent a total of N3.49tn on domestic debt servicing and payment between January 2015 and […]

Share on Facebook Tweet on Twitter National President of the Nigeria Labour Congress, NLC, Comrade Ayuba Wabba, in a statement in Abuja, yesterday, said the timing of the scarcity was not lost on the people as it was intended to maximise pain and profit at Christmas season because of the biggest movement of people, goods […]

NBS National Bureau of Statistics NBS National Bureau of Statistics The National Bureau of Statistics has released the Consumer Price Index (CPI) report, which measures inflation, with the rate dropping year-on-year from 16.05 per cent in July to 16.01 per cent in August. The bureau, in the report, which was made available to our correspondent, […]

Dubai, with peerless monuments such as the world’s 7-star hotel and tallest building, is taking its record breaking obsession to solar power. The small state, that is a part of the United Arab Emirates will implement the world’s largest Concentrated Solar Power (CSP) project valued at 14.2 billion dirham (3.87 billion U.S. dollars), the daily […]Read More

Kano and Lagos State governments are collaborating to develop a synergy on economy for the development of the two states. Governor Abdullahi Ganduje of Kano State made the disclosure when a team of economic experts from Lagos led by the state Commissioner for Economic planning and Budget, Mr Akinyemi Ashade paid him a courtesy visit […]

Nigerian Banks AGF Ahmed Idris FAAC The Federal Government has lost over N70 billion to failed banks in the country, the Accountant-General of the Federation, Alhaji Ahmed Idris, has said. He said this in a presentation on the ‘Challenges of the implementation of the Treasury Single Account in the Nigerian public service’ during a forum […]

Crude oil production freeze is now imminent for Nigeria, as the country’s oil production increased by 138,300 barrels per day (bpd) from the 1.723 million (bpd in July to 1.861million bpd, according to the latest report from the Organisation of the Petroleum Exporting Countries (OPEC). This has made the country to exceed its allocated crude […]Read More

The General Secretary of National Union of Textile, Garment and Tailoring Workers (NUTGTW), Comrade Issa Aremu, said there can be no meaningful economic recovery until the Federal Government addresses productivity and wages matters. In a reaction to a report by the National Bureau of Statistics (NBS) that Nigeria, with a Gross Domestic Product (GDP) growth […]

Dangote Cement has approached South African cement producer, (PPC), for takeover bid, but talks are at preliminary stages, Media has reported. PPC is already considering a bid by local rival, AfriSam, which launched a new all-share bid that values PPC at about 9.2 billion rand Dangote Cement bid for PPC is a way to increase […]

The Port Terminal and Multi-purpose limited, PTML command of the Nigeria Customs Service, NCS, generated N10.16 billion for the month of August 2017 as against N6.284billion in the corresponding period of 2016, representing an increase of 38.14 percent. The collection, according to the Command’s spokesman, Mr. Mohammed Yakubu, was the highest revenue collection in a […]Read More