Business news
Acting President Yemi Osinbajo has sought to include the Development Bank of Nigeria (DBN) and Fund for Agricultural Finance in Nigeria (FAFIN-II) in the 2016-2018 borrowing plan. In a letter addressed to the Speaker of the House of Representatives, Yakubu Dogara, Osinbajo said the DBN which is a multi-donor supported bank, was omitted in the […]
The Central Bank of Nigeria, CBN, has expressed concern over the borrowing attitude of government, saying the pace has exceeded the target for the 2017 fiscal year. The CBN said this at its Monetary Policy Committee, MPC, second quarter 2017 meeting. The MPC communique reads in part: “The Committee was concerned that credit to government […]
The House of Representatives has pledged to resolve impending issues against the optimal performance of the Maritime Sector to contribute immensely to Nigeria’s economy. Speaker Yakubu Dogara gave the assurance at a public hearing organised by the House Committee on Ports, Harbours and Waterways on eight Maritime Industry related Bills. Mr. Dogara said the eight bills when passed, […]
Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people. If they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population. That, at least, is the three-pillared prescription from […]
Africa will see a lift-off in economic growth this year and next on the back of a rebound in global commodity prices, an annual report predicted on Monday. The African Economic Outlook, co-authored by the African Development Bank (AfDB), the Organisation for Economic Co-operation and Development and the United Nations Development Programme, expects the continent’s […]
A former Deputy Governor of the Central Bank of Nigeria, CBN, Dr Obadiah Mailafia, has lamented that the naira could no longer be used outside the country as before. Mailafia recalled that during the 70s, the currency was acceptable in London, Mecca and Medina. He called on the Federal Government to take measures that will […]
Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to the Minister of Power, Works and Housing Babatunde Fashola, SAN, requesting him to urgently enforce directives to electricity distribution companies (DISCOs) to provide free pre-paid meters to Nigerians. The organization asked Fashola to take this step within 7 days, “failing which SERAP will […]
The Corporate Affairs Commission (CAC) has said it de-listed 46, 000 companies in its 2016 gazette that was made public recently because it had sufficient evidence to show that those companies could no longer carry on business operations in the country. This explanation was given by the Registrar-General of the Commission, Bello Mahmud, who was […]
The African Union’s Health Ministers have urged member States to ride on the successes recorded in curtailing wild polio virus spread in the continent. These they say would be through surveillance, trained staffs and routine immunization to address other health emergency outbreaks. The ministers believed that the gains from various investments in controlling wild polio […]
The Emir of Kano, Alhaji Muhammadu Sanusi II has called on both the Federal and State Governments to encourage private entrepreneurs to invest in the power sector. He made the call while delivering a keynote address at a two-day conference in commemoration of the 50th anniversary of the creation of Kano state. The conference is […]