archiveMay 24, 2017

The total value of capital imported into Nigeria in the first quarter of 2017 was estimated to be $908.27 million. According to National Bureau of Statistics (NBS), although this was an increase of 27.75 per cent relative to the same quarter of 2016, it was nevertheless 41.36 per cent- smaller...

The Federal Government of Nigeria is seeking approval from lawmakers to borrow $1.3 billion from international lenders to fund the newly licensed Development Bank of Nigeria (DBN) the House of Representatives’ said on Wednesday. The bank aims to support small businesses with loans of varying lengths at lower interest rates...

The Nigerian Stock Exchange continue with the positive trend of Tuesday on Wednesday as the All-Share Index (NSE ASI) and the Market Capitalization increased by 0.69 per cent, while the Year-to-Date return stood at 5.25 per cent. The All-Share Index closed at 28,286.43 against the previous close of 28,093.30 while...

Winners of the 2017 African Banker Awards were announced at a Dinner in Ahmedabad, India. The Awards, held annually on the fringes of the Annual Meetings of the African Development Bank (AFDB) celebrate excellence in banking and finance on the African continent. No one country dominated the awards this year....

The African Development Bank (AfDB) has proposed new investment strategies in Africa’s agriculture sector, which, if properly implemented, would effectively alter the market structures around the world in favour of the African farmers of major cash crops like tea, coffee and cocoa. AfDB Vice-President for Regional Development, Integration and Business...

The worst disruptions in Nigeria's oil-producing Delta region are over, and production could reach 2.2 million barrels per day (bpd) by the end of June, the chief executive of Nigeria's Oando said on Wednesday. Oando chief Pade Durotoye told the Africa Independents Forum in London the long-closed Forcados oilfield could...

The Nigeria Customs Service (NCS) on Monday night intercepted 440 pieces of Pump Action rifles at the Tin Can Island Port in Lagos. Displaying the guns to newsmen at the TCIP Customs Command on Tuesday, the Coordinator of Customs Zone ‘A’, Assis­tant Comptroller-General, Monday Abueh, said that the rifles were...

The Federation Account Allocation Committee (FAAC) on Tuesday shared N415.7 billion, representing a decline of N52.1 billion from what the three tiers of government shared as revenue for March. The Accountant-General, Mr Ahmed Idris, who represented the Minister of Finance, Mrs Kemi Adeosun, told journalists in Abuja that the N415.7...

The International Monetary Fund (IMF) said on Wednesday that Nigeria’s indebtedness would climb to 24.1 per cent of its Gross Domestic Product (GDP) by 2018. Nigeria ended 2016 with a debt to GDP ratio of 18.6 per cent while at the end of 2015, Nigeria’s debt to GDP ratio stood...