The importation of rice into Nigeria dropped by 88.4 per cent in one year, the Federal Government announced on Friday. It stated that rice importation dropped from 500,000 metric tonnes imported in 2015 to 58,000MT in 2016. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, disclosed this to delegates who participated at the […]

Governor Rauf Aregbesola of Osun State says improved productivity in various sectors of the economy will help the country to achieve economic prosperity. To reduce the pervading social vices in the country, Aregbesola also said there was a need to engage young minds in wealth creation and promote dignity of labour. The governor spoke against […]

The Director-General, Manufacturers Association of Nigeria, Mr. Segun Ajayi-Kadir, has urged the Federal Government to intensify efforts so that the country’s economy will not relapse into recession. He warned that if the country did not sustain the growth in productivity that had helped the economy exited recession, there could be a relapse. Ajayi-Kadir spoke in […]

The country’s electricity grid recorded a total system collapse on Thursday, the Transmission Company of Nigeria announced on Friday. It, however, stated that the restoration of the grid was at an advanced stage and explained that the total collapse was due to tripping of three generator units at the Egbin power generation station in Lagos. […]

The Federal Government is planning to sell as much as $5.5bn of Eurobonds in the next three months to fund capital projects and replace naira-denominated debt, the Debt Management Office has said. Yields on existing bonds rose to the highest in two months. The new offer will bring the amount raised through Eurobond sales by […]

The Federation Account Allocation Committee on Thursday shared the sum of N637.7bn among the three tiers of government. The amount, which is for statutory allocation for the month of August, represents an increase of N169.9bn over the N467.8bn, which the committee allocated in the month of July. Addressing journalists shortly after the meeting, which was […]

The Federal Government on Thursday declared that state governments were beginning to neglect the provision of adequate water supply and sanitation, particularly in urban areas. It also stated that the neglect had further worsened water supply situation across the country, as access to potable water had dropped from 32 per cent in 1990 to seven […]