Nigeria partners UNDP, GEF to invest $58m in Food Security project

Nigeria partners UNDP and GEF to invest $58m in food security projects

The FG, @AsoRock has collaborated with the United Nation Development Programme (UNDP) and Global Environmental Facility (GE) to earmark the sum of $58 million for investment in agriculture.
Petrol Price Regime

Warnings signs as depot owners lament over high cost of fuel

Depot-owners, under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Marketers Association of Nigeria (DAPMAN), have voiced their displeasure at the new price regime on petrol, seeking to hike the product to N117 per litre from N111.
Stamp Duty

Stamp Duty Controversy: CBN recovers over N35bn as probe begins

The @cenbank revealed it has recovered over N35 billion from Commercial Banks, being part of the reported N20 trillion unremitted stand duty. CBN's Mallam Abubakar Kure disclosed this on Wednesday in Abuja
Loom Money Nigeria

SEC warns ponzi-thirsty Nigerians against Loom Money Nigeria

The Securities and Exchange Commission (SEC), has warned Nigerians to beware of the fraudulent activities of Loom Money Nigeria promoters.
Nigerian Communications Commission's Building

NCC set to host maiden edition of Nigerian Telecom Leadership Summit

The NCC, have finished preparations to host the maiden edition of Nigerian Telecom Leadership Summit (NTLS 2019) scheduled to hold in Lagos next week.
Stamp Duty

Over N190bn disbursed through Anchor Borrowers Programme – CBN

The @cenbank disclosed that over N190 billion has been disbursed to more than 1.1 million smallholder farmers through the Anchor Borrowers Programme. This was disclosed, yesterday, by the CBN Governor, Godwin Emefiele
Gurara II Hydropower project

Why Nigeria wants to borrow another $1bn from China

The Federal Government, rising from its Federal Executive Council meeting on Wednesday, concluded plans to take a fresh $1 billion foreign loan facility aimed at bankrolling the Gurara II Hydropower project.

Price Watch: The average prices of Kerosene, Diesel, and Gas in April

The average price per litre of Kerosene in Nigeria increased to N316.26 in April 2019, compared to N303.94 recorded in March. This indicates that the Average price per litre paid by consumers for National Household Kerosene increased by 4.06 percent month on month and 13.57 percent year-on-year.
Breaking: Senate confirms Emefiele's re-appointment for second term

Senate confirms Emefiele’s re-appointment for second term

Breaking: The Nigerian Senate has confirmed the re-appointment of the Central Bank of Nigeria Governor, Gowin Emefiele.
DRAMA: TCN declares war on TUC over attempt to halt power transmission

DRAMA: TCN declares war on TUC over attempt to halt power transmission

The Transmission Company of Nigeria (TCN), has declared war on the Trade Union Congress (TUC), pledging to fight against the Union's intention to disrupt power transmission with protests.
Nigeria's Inflation

Nigeria’s inflation rate increased after three consecutive decline

Nigeria's Inflation increased 0.12% from the previous rate of 11.25% YoY, being the first increase after three consecutive declines in inflation rate for 2019.
Gurara II Hydropower project

$9bn fine: P&ID open to settlement as court order to seize Nigeria’s assets is...

The founder of Process and Industrial Development (P&ID), Brendan Cahill has disclosed that the company is open to settling its disagreement with the Federal Government amicably despite a court scheduled for next week.
Petrol prices

Price Watch: Average petrol pump prices spike in April

The average pump price of premium motor spirit (Petrol) increased by 0.4% in April 2019. This is revealed in the latest PMS price watch data released @nigerianstat.
Serving of Domestic Debt

FG’s domestic debt servicing cost hit N1.7tn in 2018

A CBN report has revealed that the serving of domestic debt instruments cost the Federal Government a whopping N1.799 trillion in 2018.
Nigerian National Petroleum Corporation

$1.6bn has been recovered from the Atlantic Energy dispute by NNPC

Maikanti Baru said the Nigerian National Petroleum Corporation has retrieved $1.6bn savings from the Nigerian Petroleum Development Company
Central Bank of Nigeria

NECA takes up alleged N500bn fraud case, requests independent audit

Some financial and economic experts have asked the Central Bank of Nigeria (CBN) to ready itself for an independent audit.
Petrol price will increas says Rewane

Petrol price to increase as subsidies drain Government’s revenue

Petroleum price may go up in just a matter of weeks, even as Nigerians have been advised to brace up for the negative effects such a development would have on the economy.
DMO offer FGN bonds, Debt Management Office, Nigeria's total debt stock rose to N24.3 trillion in 2018

Federal Government offers fresh N100bn bonds for subscription

The Federal Government has offered a fresh bond of N100 billion. To effect this, the DMO has been authorised to receive applications for the bond.
Inflation rate

Nigeria’s inflation rose to 11.37% in April, after 3 months decline

The consumer price index, which measures inflation, rose to 11.37% in April 2019, according to the monthly inflation report released by @nigerianstat. The rise in April's inflation rate represents the first time inflation increased in three months.
Saudi Aramco

Oil prices spike after Saudi Aramco facilities suffer drone attack

The facilities of Saudi Aramco suffered setback early Tuesday morning after explosive-laden drones attacked two pumping stations belonging to the state-owned oil company.
Pension Contributors

Pension contributors hit 8.5m, but statistics still show worrying signs

The summary of Pension Fund Assets shows that Pension contributors hit 8.56m in February 2019. When compared to the 8.4m plus contributors that had been maintained since December, there's an increase.
Berger Paints' improved margins ride on the back of cost efficiency

Visa applications will no longer be accepted by DHL in Nigeria

Visa applications by DHL will no longer be accepted in Nigeria, as the U.S embassy in Nigeria indefinitely suspends interview waiver.
Bank of Industry

BoI’s disbursements to businesses increased by 130% in FY 2018

The Bank of Industry (BoI), reportedly disbursed a total of N259.6 billion to support Nigeria's industrialisation between January and December 2018.
Nigeria-China loan deal

FG assures no infrastructure was mortgaged in the China loan agreement

FG have disclosed that the country's infrastructure was not mortgaged in the loan agreement between the country and China-Exim bank.
Stanbic IBTC Shari’ah Fixed Income Fund

Market Update: Escalating US-China trade tensions weigh on market sentiments

Nairametrics' summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills, is brought to you by Zedcrest.
MPC, Monetary Policy Committee

Alleged 500bn Fraud: The CBN and others should be investigated for posterity’s sake

While this is still an allegation, the FG should not push this over, because a corrupt Central Bank of Nigeria is capable of grounding the economy to a halt
Alleged 500bn Fraud: The CBN and others should be investigated for posterity's sake

Federal Executive Council approves N35.94bn road contracts in six states

The Federal Executive Council has approved road contracts worth N35.944bn in six states of the federation, the Federal Ministry of Power, Works and Housing announced on Sunday.
Federation Allocation Account Committee, Nigeria's 2019 budget, FAAC disbursements

35 States will struggle to fund budgets as Federal Government’s earnings fall

Thirty-five States will struggle to fund their budgets, as the Federal Government's earnings declined in the first quarter of 2019 after the Federation Allocation Account Committee (FAAC) recorded a drop in its disbursement, posting N1.929 trillion.
Stanbic IBTC Shari’ah Fixed Income Fund

Fixed Income Market Monitor (Monday, 06-Friday, 10 May 2019)

The money market rate increased last week as the Overnight rate (OVN) and Open Buy Back (OBB) rose to 10.00% and 9.14% from 5.93%.
Inflation rate

FSDH Merchant Bank predicts further decline in Nigeria’s inflation rate

Nigeria's trend of inflation drop will continue in April 2019. This is according to a forecast by FSDH Merchant Bank, that inflation will decline to 11.23%.

Popular

Canada invited 3,357 Express Entry candidates with scores as low as 300

Canada invited 3,357 Express Entry Candidates with scores as low as 300

Canadian province, Alberta, has issued a total of 3,357 invitations to apply for a provincial nomination for Canadian Permanent Residency (PR) to Express Entry candidates with Comprehensive Ranking System scores as low as 300.
Nigerian Aviation Unions

FG explains why it plans to demolish and rebuild the MMIA in Lagos

FG has explained the underlining reasons for the planned demolition and rebuilding of the 40-year-old Murtala Muhammed International Airport in Lagos.
Gas cylinders, Ibe Kachikwu

Federal Government to stop ownership of gas cylinders by consumers

By this new policy by @AsoRock, LPG consumers are not longer allowed to own gas cylinder.