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Power companies should consider selling stakes to other investors - Osinbajo The Government said it has set its sights on the power distribution problem and will seek to bypass the bottleneck in the electricity distribution segment through 2 main policy initiatives, Vice President Yemi Osinbajo said at the ongoing NESG...
National debt is an emotive issue, as well as an economic one. The thought of saddling future generations with unserviceable debt, is not conscionable and certainly not part of the President Muhammadu Buhari-led-administration’s agenda. It is therefore, worthy of an intervention on my part to explain the history, the...
The Ondo State Governor, Mr. Oluwarotimi Akeredolu, SAN, has said that his major priority in office is to make the state the number one destination of investors in Nigeria by year 2020. Speaking during the Inauguration of the board of the State Development and Investment Promotion Agency (ONDIPA) on Thursday in Akure,...
The sun rises in the east and sets in the west, its sprawling horizon is dotted with hills that sit magnificently accentuated by lush greenery indicating unusual potential for fruitfulness. What and where are we talking about? It is the Sunshine state, Ondo, a land flowing with an abundance...
President Muhammadu Buhari  in a letter sent to the Senate, nominated Aishah Ahmad as the new deputy governor of the Central Bank Of Nigeria (CBN). The President also nominated Adeola Adenikinju; Aliyu Sanusi; Robert Asogwa and Asheikh Maidugu as members of the Monetary Policy Committee of the CBN to replace...
According to the Director of Corporate Communication, Ugochukwu Isaac Okoroafor, the Central Bank of Nigeria (CBN) had to resist powerful forces including several very influential individuals and organizations who wanted to float the Naira despite the uncertainty of exposing the nation's currency to the extreme impulses of the market....
My dear Nigerians, October 1st remains a special date for all Nigerians as this marks the day when we attained one of the most precious of human desires — freedom. Over the years the country has gone through trials and tribulations, but October 1st is always a day for celebrations. It is...
The word debt has always been cautiously used by administrations as the very thought of owing people or nations is usually enough to get Nigerians riled up. That is not more the case. Now, on almost a monthly basis, the Buhari administration has repeatedly incurred more and more debt...
The Federal Government tonight announced that the October date earlier promised for the submission of the 2018 budget proposal to the joint session of the National Assembly remains unchanged. This was made known in a tweet released by the Federal Government of Nigeria in its handle @AsoRock "Please note that this...
The Federal Government will embark on two Eurobond raises before the end of the year. Director-General of the Debt Management Office (DMO) Patience Oniha disclosed this while being interviewed by Bloomberg. The funds raised will be used for various capital projects by government. The government’s advisers “have told us the...
I watched the movie, The Big Short, a while ago. The movie piqued my interest in Finance particularly in how the unorthodox manoeuvers in the American financial sector brought the “Most Powerful Country” in the world to a recession. So when Nigeria plunged into an economic recession, I was quite...
Africa’s richest, Nigeria’s Aliko Dangote’s name has been making the rounds with the claims that he will be in the running for 2019 presidency. Think-tank program, created by former President Goodluck Jonathan, ‘supposedly’ contacted Dangote to be PDP’s presidential torch bearer come 2019. Without mincing words, Aliko Dangote made it...
In what is the trending news in the Nigerian economic sphere, the National Bureau of Statistics released Q2 2017 figures, which indicated a 0.55% growth in the economy. This is the first growth the economy has recorded in 5 quarters. However, the exit from recession is confirmed not only...
Nigeria is out of recession!!! Official report of the Second quarter 2017 GDP from the National Bureau of Statistics (NBS) show the Nigerian economy grew by 0.55%. The real GDP growth of 0.55% in the second quarter of 2017 is the first in about 5 quarters confirming that Nigeria is...
The month of August has come and gone and as expected the stock market ended the week on a negative note. For the first time since April, the All Share Index, closed on a negative note after stocks slipped by 0.98% month to date. In fact, apart from the...
For all intent and purposes, it looked like the perfect scenario- a multi-billionaire native industrialist coming in to invest several millions of dollars in order to produce a commodity that the country was spending billions of Naira importing at a time when the forex crunch was at its hardest....
The Nigerian economy started the week ended August 26th with a prime-time broadcast from President Muhammadu Buhari, who had just returned from over 100 days away on medical trip abroad.  A lot of Nigerians who expected some commentary on the economy, were left visibly disappointed as he focused mostly...
Civil servants waking up on Wednesday morning will have been surprised at a new term being flung around in news media and accredited to the Vice President, Yemi Osinbajo. The term is ‘selective minimum wage increase’. According to a transcript of Osinbajo’s speech during a session titled, ‘Conversation with...
Nigeria may have one more opportunity to maximize her oil wealth, as some analysts are of the opinion that oil prices could spike from 2020 due to a supply shortage within the next decade. Oil prices are currently trading around $50 from a peak of over $100 a few...
The Federation Account Allocation Committee (FAAC) disbursed the sum of N652.23billion to the three tiers of government in July 2017 from the revenue generated in June 2017. This represents a 41% increase from N462.36 billion disbursed last month. The amount disbursed comprised of N570.58bn from the Statutory Account and N81.64bn...
Every business operates within an economic environment and are therefore susceptible to the changes that takes place in the economic policies overtime. This makes it highly important for businesses to be informed on various ways these policies affect their sales, profitability and overall objectives. Although, government policies may come in different...
Lagos state commissioner of finance, Akin Ashade has confirmed that the state has raised N85 billion in bonds to fund environmental and infrastructure projects. The bonds raised are part of a N500 billion bond programme approved by the state house of assembly last year. N50 billion was raised last...
In what can be only described as bad news, the International Monetary Fund (IMF) has come out to say that the unemployment rates in Africa’s two largest economies are going to hit new highs never experienced. The grave implication of this piece of news sinks further in when one...
The Statistician-General and chief executive officer of the National Bureau of Statistics Yemi Kale may have news capable of throwing Nigerians into joy as he ‘thinks’ the economy might have resuscitated its way of the dredges of recession it currently finds itself. According to Bloomberg, Kale in an interview...
The Federal government is to refinance maturing domestic debt with $3 billion treasury bills. Minister of Finance Kemi Adeosun disclosed this at a press briefing after yesterday’s Federal Executive Council (FEC) meeting. Mrs Adeosun also attempted to allay fears of increased  borrowing, insisting that instead of borrowing Naira, we are...
The 36 state governments have invested $250 million in the Nigerian Sovereign Investment Authority (NSIA). MD of the fund Mr Uche Orji disclosed this recently. The investment was made from the 2016 Nigerian Liquified Natural Gas (NLNG) dividends that accrued to the states. The NSIA is Nigeria’s Sovereign Wealth...
For many following the investigation of the former Minister of Petroleum, Mrs. Diezani Alison Madueke, the recent order on Monday for the final forfeiture of $37.5million Banana Island property to the Federal Government was a case of vindication of justice. However, if the recent report from the Economic and...
The first half of the year is gone and states, most of whom depend on statutory allocation from the top, had some form of relief following a horrendous 2016 which saw the amount available for sharing plummet rapidly due to concurrent issues surrounding foreign exchange, oil price slump and...
The Purchasing Managers’ Index rose to 56.8 points in July 2017 for the fourth consecutive month, albeit at a slower pace than the 57.0 points recorded in June. This was reported in the Purchasing Manager Index (PMI) released by the Central Bank of Nigeria (CBN) for the month of July,...
The Central Bank of Nigeria CBN's Monetary Poly Committee meeting (MPC) was concluded on Tuesday with the decision to hold  the policy rates. According to the communique released by the CBN, the Committee, in consideration of the underlying fundamentals of both global and domestic economy decided to retain the MPR...