The Big Story articles

Minister of Finance to deliver keynote address

Minister of Finance to deliver keynote address

The Honourable Minister of Finance, Mrs. Zainab Ahmed will deliver a keynote address at the launch of the Afrinvest Nigeria Banking Sector Report 2018. The launch of this 13th Edition of the Report, titled “An Economic Agenda for a New Government” will host eminent personalities in the public and private sectors including the Executive Governor

Oxfam report: Nigeria ranks 157 out of 157 countries in inequality scale

Nigeria is the least among 157 countries on social spending, tax and labour rights. This was contained in a report released on Tuesday at the annual International Monetary Fund and World Bank meeting, holding in Bali, Indonesia. The report titled “Commitment to Reducing Inequality Index 2018 (CRI)” shows that Nigeria’s position in the ranking has

We Will Take More Nigerians Out Of Poverty -Osinbajo

The Federal Government will continue to drive initiatives to get more Nigerians out of poverty and also improve the country’s Human Capital Development indices, according to Vice President Yemi Osinbajo, SAN. Prof. Osinbajo said this during a meeting of the National Economic Council’s Human Capital Development Core Working Group on Wednesday at the Presidential Villa,

AMCON Sunset: N5.4trillion Recovery Impossible Without Judicial Support – Justice Kafarati

The Chief Judge of Federal High Court, Abuja Division, Hon. Justice Adamu Abdu Kafarati, has reiterated the need for judges in Nigeria to support the recovery efforts of Asset Management Corporation of Nigeria (AMCON) since the corporation was established as a central element of government’s response to financial crisis in the country. Justice Kafarati, made

FG woos investors to telecoms sector with 30% cut in company income tax

Investors coming into Nigeria, especially the telecommunications sector, have been guaranteed a 30 per cent cut in company income tax payment payable to the government. Besides, there will be relaxation of monetary and fiscal policies; access to foreign exchange; reduction in waivers and Custom Duties and be opened to improved ease of doing business. Executive

Why Nigeria is borrowing from China – DMO

The Federal Government has explained that it borrows from China in order to take advantage of a cheaper source of finance. In a statement made available to our correspondent in Abuja on Tuesday, the Debt Management Office said that the Federal Government was also borrowing from China in order to diversify the sources of borrowed

‘How rail system will save Lekki from congestion’

The extension of a rail system to the Lekki area of Lagos will help the state avert another traffic disaster in the next few years, the Managing Director, Nigerian Ports Authority (NPA), Hadiza Bala Usman, has said. Given the multiplicity of mega projects in the area, such an infrastructure will guarantee sanity and flow of

BoI, CEXIM Seal $500m Pact For Refineries, Gas Recovery

The Bank of Industry (BoI), and the Export-Import Bank of China (CEXIM), have signed a Memorandum of Understanding (MoU), to provide a credit line of up to $500 million towards the establishment of modular refineries, and Flare Gas Recovery Programmes in the country.Speaking at the signing ceremony in Beijing, the Managing Director/Chief Exevcutive, BoI, Olukayode

Oil Reserve Crisis Looms Over Delay Of Blocks

• How non-passage of petroleum bill stalls sector’s outlook The delay in the award of new oil blocks and uncertainties over existing marginal oilfields are upsetting industry players, amid a warning that the country’s economic development could be jeopardised.Nigeria is projected to witness a shortage of crude oil, as new refineries may have to compete

Government encouraged by growth in non-oil sector – Udoma

Following the release of the latest GDP Growth numbers by the National Bureau of Statistics (NBS), the Minister of Budget and National Planning, Senator Udoma Udo Udoma, has expressed his happiness to see that the Nigerian economy has continued to register positive growth in the first and second quarters of the year in spite of