ECONOMY

The Federal Government of Nigeria has launched the Economic Recovery and Growth Plan (ERGP), a medium-term plan for 2017-2020. The plan is broadly targeting restoration of growth, human development, globally competitive economy, tackling the current economic recession confronting the nation as well as ensuring economic diversification and inclusiveness. According to...

The Federal Government has launched an Asset Tracking and Management Project (ATMProject), through which for the first time, the Government would be able to locate, identify, assess and evaluate all its moveable and immoveable assets, the Minister of Finance, Mrs. Kemi Adeosun, has announced. According to a press statement on...

Popular Ponzi scheme, Mavrodi Mundial Movement (MMM) bolted with N18 billion belonging to three million Nigerian investors, the Nigerian Deposit Insurance Corporation (NDIC) said on Thursday. Alhaji Umaru Ibrahim, the Managing Director of NDIC said this at the 38th Kaduna International Trade Fair organised by the Kaduna Chambers of Commerce,...

Nigerian private sector activity expanded for a second straight month in February, driven by a rise in new business despite a fall in export sales, a survey showed on Friday. According to Reuters’ report, the Stanbic IBTC Nigeria Purchasing Managers' Index (PMI) rose to 52.2 last month after rising to...

As FG’s efforts set economy on an upward trajectory There are now indications that the Nigerian economy is well on its way out of recession considering the 2016 overall and last quarter Gross Domestic Product reports. A review of the recent GDP figures released today by the National Bureau  of...

The Minister of Finance, Mrs. Kemi Adeosun on Monday, disclosed that the Development Bank of Nigeria (DBN) is being positioned to galvanise the Small and Medium Scale Enterprises sector for the overall development of the nation’s economy. The Minister, who spoke during a Board/Management/Development partners' retreat of the DBN in...

Approves N126b for roads in eight states Federal Executive Council (FEC) has said that Nigeria is yet to decide on the size of the loan it wants to apply for at the World Bank to fund 2017 budget deficit. The Minister of Budget and National Planning, Senator Udoma Udo Udoma...

The National Bureau of Statistics (NBS) has said that the countr’s Consumer Price Index, which measures inflation, increased by 18.72 per cent (year-on-year) in January from 18.55 per cent recorded in December, 2016. The CPI, which measures the average change over time in prices of goods and services consumed by...

The Minister of Finance, Mrs. Kemi Adeosun on Tuesday said the Federal Government was determined to expand the coverage of the Treasury Single Account (TSA) to cover more agencies in 2017. Speaking in Abuja at the opening of a two-day retreat on the TSA, the Minister, who described the implementation...

Targets average 4.7% annual growth rate through 2020 Nigeria plans to generate as much as $16.4 billion through asset sales in the next four years to reduce the burden on the public budget, a Budget Ministry document showed. The sales will help to tackle inefficiencies and stem “corruption in public...