ECONOMY

The Debt Management Office (DMO) has indicated that a total of N1.2 trillion has been released by the Federal Government for capital projects in the 2017 Appropriation Act. The office noted that the release of such amount for the capital project was a strong demonstration of the commitment of the...

  Annual inflation in Nigeria stood at 15.37 in December, 2017 compared with 15.90 per cent in November, the National Bureau of Statistics (NBS) said on Tuesday. The nation’s inflation slowed for the 11th month in a row in to 15.37 per cent in December, 2017 from 15.90 per cent...

  The manufacturing Purchasing Managers’ Index (PMI) in the month of December stood at 59.3 index points indicating expansion, alongside rising production level. The expansion in PMI in the manufacturing sector has remained steady for the ninth consecutive months. A total of 15 of the 16 subsectors reported growth in...

The World Bank has projected that Nigeria economy would grow around 2.5 percent in this fiscal year, saying that the African biggest economy will benefit from improved commodity prices, investment, and trade. The Bank in its January 2018 Global Economic Prospect report launched on Tuesday in Washington DC also predicted...

  ….Moves to block revenue leakages by contractors …To undertake compliance spot checks on MDAs The Federal Government has ordered vendors of Ministries, Departments and Agencies (MDAs) to display their Tax Identification Numbers (TINs) on their invoices before payments are effected by the MDAs. The Federal Government’s directive was handed...

  Nigeria’s foreign reserves hit $40.4 billion as of January 5, an increase of roughly $1 billion from December, the Central Bank of Nigeria (CBN) said on Monday. The bank said the rise reflected its “strategy to effectively manage forex demand by various sectors of the economy”, stressing restrictions on...

    The Central Bank of Nigeria (CBN) has released its Purchasing Managers Index (PMI) survey for the month December which indicated continuous rapid expansion of economic activities during the month. The report released by the nation’s apex bank on Wednesday showed that the Manufacturing PMI and Non-Manufacturing PMI rose...

President Muhammadu Buhari has disclosed that Nigeria’s economy witnessed some remarkable changes in 2017, mentioning exiting the worst recession in decades and gradual stabilisation of the naira. The President disclosed that despite global economic challenges and initial outlook of slow, or unlikely recovery, ‎his administration recorded some key achievements. ‎According...

The Lagos Chamber of Commerce and Industry (LCCI) has predicted a Gross Domestic Product (GDP) growth rate of between three and four per cent for 2018. In its 2018 Economic Outlook released on Friday in Lagos, the LCCI also forecast an inflation rate of 13 per cent for the country...

…Draw up daily, monthly cash payment plan as mandated …Refutes misleading report on non adherence to FRA, cash plan The attention of the Honourable Minister of Finance, Mrs. Kemi Adeosun, has been drawn to a report by an online medium, Premium Times that the Federal Ministry of Finance and the...