Economy
-
BREAKING: At 27.33%, Nigeria’s inflation rate hits highest peak since 2005
Nigeria’s inflation rate hits 27.33 per cent in October 2023, making it the highest record since August 2005 when it was at 28.2 per cent. This is disclosed by the National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) on Wednesday. According to NBS, “In October 2023, the headline inflation rate increased to 27.33per cent relative to the…
Read More » -
Housing minister unveils N50m mortgage scheme for Nigerians in diaspora
As the 6th edition of Nigeria Diaspora Investment Summit (NDIS), opens in Abuja, the Minister of Housing and Urban Development Architect Ahmed Dangiwa, has launched the Diaspora Housing Schemewith a promise for Diasporas access up to N50 Million loan for mortgage with an interest rate of 6.9%, to be paid over a period of 10 years. The Minister who initiated…
Read More » -
Maida applauds Project Train 3M on ICT Skills
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida has applauded the proposal by the Hon. Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, to enlist and train three million Nigerians over a period of four years, which will make the country an exporter of digital skills. Maida, who spoke recently in Lagos at…
Read More » -
Finance minister projects 25% revenue-to-GDP ratio by 2026
Nigeria’s revenue-to-GDP ratio will rise to 25 percent in 2026 from 8 percent in 2023, according to Minister of Finance Wale Edun. He made this projection on Tuesday at the launch of Afrinvest’s 2023 Nigerian banking sector report in Lagos. He said this will be achieved through the successful implementation of the ongoing domestic reforms, which will also increase the…
Read More » -
Afreximbank unveils EPC platform, commits $2bn to export agriculture for food security initiative
Bolaji Adebiyi in Cairo, Egypt The African Export-Import Bank (Afreximbank) in Cairo, Egypt on Tuesday unveiled an intra-African Engineering, Procurement and Construction (EPC) platform designed to empower African contractors to successfully bid for contracts. The platform, the bank said, would boost the capacity of African companies to bid for EPC contracts within the continent by allowing for the seamless posting…
Read More » -
Kwara govt closes deal with NEXIM at IATF
By Mosunmola Ayobami,Ilorin Kwara State Government has closed a partnership deal with the Nigerian Export Import Bank (NEXIM) towards facilitating export-related industrialisation and investment promotions around local resources in the state. The signing of the deal occurred on Monday in Cairo, Egypt, on the sidelines of the Intra-African Trade Fair (IATF) following briefings on the various economic projects of the…
Read More » -
Nigerians in diaspora investors, crucial partners for solid minerals development – Alake
The Minister of Solid Minerals Development, Dr. Dele Alake has declared Nigerians in Diaspora investors as essential partners for unlocking the financing and technical capacity required to transform the mining sector. Speaking to a cross-section of Nigerians in Diaspora investors led to his office Monday evening, by Chairman of the Nigerians In Diaspora Commission (NIDCOM), Abike Dabiri-Erewa, Alake stressed that…
Read More » -
Saudi investment in Nigeria will create job opportunities, lift millions out Of poverty – Betta Edu
The Federal Government has hailed the Saudi government and its investors’ interest in Nigeria and creating jobs that could help millions of vulnerable Nigerians escape poverty. Nigeria’s Minister for Humanitarian Affairs and Poverty Alleviation, Betta Edu, who stated this on the sidelines of the Saudi-Africa Investment Summit in Riyadh, also described the development as a welcome initiative and a huge…
Read More » -
Oramah counts Continental Trade Fair Blessings
Says over $75bn deals closed, $43bn more in the works Bolaji Adebiyi in Cairo, Egypt Benedict Oramah, president of Afreximbank, has said the continental bank is living up to its mandate of promoting and facilitating intra-African trade, explaining that its biannual goods and services exhibition initiative has yielded substantial results. “Since 2018, when we hosted the inaugural Trade Fair here…
Read More » -
Nigeria’s oil production hits 2023 peak in October, still below OPEC quota
The latest data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) shows that Nigeria’s oil production reached its highest level in 2023 in October. The country produced 1,350,573 barrels per day (bpd) of crude oil and condensate, which is also the largest volume since January 2022. The data reveals that Nigeria’s oil output increased by 0.30 percent or 4,011 bpd…
Read More »
Follow our WhatsApp Channel