ECONOMY

The Federal Government of Nigeria’s (FGN) total revenue from crude oil rose by 29 per cent to N7.3 trillion in 2017 due to increases in production and in crude oil price. The revenue from oil represented 69 per cent of the total federation revenue, which rose by 22 percent to...

In furtherance of its reform agenda to boost the business environment in the country, the Federal Government will be commencing a 60-day National Action Plan (NAP 3.0) starting from 5th February to 5th April 2018, to drive the ease of doing business initiative of the Buhari Presidency. The Presidential Enabling...

  The African Development Bank (AfDB) said it plans to increase its loans to Nigeria by over $8 billion next year with investments in energy, infrastructure and agriculture. AfDB President, Akinwumi Adesina said it will grow its loan portfolio to Nigeria by more than $2 billion over the next one...

Even as the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has promised that the bank would begin a gradual cut in Monetary Policy Rates (MPR) by the end of the second half of the year, the Chief Executive of Afrinvest Securities Limited, Mr. Ayodeji Ebo says...

  The Federation Account Allocation Committee (FAAC) on Tuesday shared N655.17 billion to the three tiers of government as revenue for January. The Minister of Finance, Mrs Kemi Adeosun, told newsmen on Tuesday in Abuja that the money was distributed under four distributable sub-heads. According to Adeosun: “The total statutory...

  The International Monetary Fund (IMF) has projected that Nigeria’s economy will grow by 2.1 percent in 2018. The forecast contained in its World Economic Outlook Update, January 2018, released on Monday shows the latest forecast was an improvement of 0.2 percent from the 1.9 percent projected in October 2017....

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has allayed the fears of Nigerians and the international community over the inability to hold the meeting of the Monetary Policy Committee (MPC) for January. A statement signed by Emefiele in Abuja on Monday said the meeting, which...

The Federal Government has commenced discussions with the Board of the African Development Bank (AfDB) for the second tranche of the $1 billion loan approved for the country in 2016. At the official opening of the Banks’ new Nigerian Country Department Building in Abuja on Thursday, Vice President Yemi Osinbajo...

The African Development Bank (AfDB) has predicted a positive outlook for Nigeria’s economic in 2018. The bank in its 2018 African Economic Outlook projected that Nigeria’s economy would grow at 2.1 per cent in 2018 and 2.5 per cent in 2019. According to AfDB, this outlook is anchored on higher...

The Nigerian Economic Summit Group (NESG) will on Thursday, January 18, 2018, unveil its 2018 macroeconomic outlook report for Nigerian economy. The report, according to NESG, will highlight the need for Nigeria to set a sustainable path aimed at achieving broad-based and inclusive growth in 2018 and beyond. It will...