ECONOMY

  The claim that South Africa has overtaken Nigeria as the largest economy in Africa has been debunked by Alhaji Aliko Dangote, Africa’s richest man and president of Dangote Group, stressing that Nigeria remains the number one economy in Africa. Speaking during the 2016 Presidential Policy Dialogue session organised by...

Vice President Yemi Osinbajo has disclosed that the Federal Government of Nigeria will spend N100 billion on capital projects in the coming days as part of the 2016 budget. He disclosed this today during the 2016 Presidential Policy Dialogue Session, organised by the Lagos Chamber of Commerce and Industry (LCCI)...

Barely about two years after losing it to Nigeria, South African economy has regained the position of Africa’s largest in dollar terms, as the value of the nations’ currencies moved in opposite directions. According to Bloomberg report monitored by Business247 News Online, based on GDP at the end of 2015...

The Federal Inland Revenue Service (FIRS) has set a revenue target of N4.957 trillion for 2016. Executive Chairman of FIRS, Mr.Tunde Fowler revealed this yesterday at 2016 Annual Corporate Strategy Retreat of the FIRS According to him, “this target is largely dependent on non-oil collection and in particular, Value Added...

The Minister of Finance, Mrs. Kemi Adeosun on Tuesday explained that the Federal Government opted for a conservative borrowing plan to fund the critical sectors of the economy and to ensure that future generation is not saddled with the burden of debt payment. The Minister, who described borrowing as inevitable...

The Minister of Trade, Industry and Investment, Mr Okechukwu Enelamah, on Tuesday said the Federal Government was following the guidelines of the policies around sectors with “comparative or relative advantage” to diversify the economy. Speaking on Channels Television programme Sunrise Daily he said, “These sectors range from agro-processing, where we...

The African Development Bank has approved 9 million dollars equity investment (approximately 12 per cent of the fund’s capitalisation) in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agricultural small and medium-sized enterprises (SMEs). FAFIN is a first-generation private equity fund that provides financial, capacity-building...

The Federation Account Allocation Committee (FAAC) may be in position to share about N700 billion for August and this will be the highest shared in the last 30 months. Analysts at Financial Derivatives Company (FDC) Limited gave the projection. The Chief Executive Officer of FDC, Mr. Bismarck Rewane has said...

Renowned economist and former Minister of Finance, Dr Kalu Idika Kalu has reacted to the spate of depreciation of the nation’s currency which traded at N400 per dollar on Friday. In the comment he pastes on his facebook page at the weekend, he lamented that Nigeria did not make use...

The Asset Management Corporation of Nigeria (AMCON), has recovered N644 billion from debtors and promised to protect the enemy. Its Managing director, Ahmed Kuru disclosed this on Friday at a media briefing in Lagos, stating that the financial institution is on its way to achieving its objective of protecting the...