FEC Sets Aside N5.595bn To Tackle Youth Unemployment

The Federal Executive Council, (FEC), on Wednesday, approved the sum of N5.595 billion for the establishing of 60,000 jobs for youths in the country. The foregoing was revealed by Senator Udoma Udo Udoma, Minister of Budget and Economic planning while briefing State House correspondents in Abuja.

CBN Projects 3% GDP Growth In 2019

Nigeria's Central Bank Governor, Mr. Godwin Emefiele, has revealed that the apex bank has projected that Nigeria’s Gross Domestic (GDP) growth will rise to three percent in 2019 as against 1.93 percent recorded in 2018.

2000 Megawatt Yet To Be Utilized By Discos - Osinbajo

Vice president Yemi Osinbajo stated that the administration has moved power generation up from 4,000 to 8,100 and also disclosed that over 2000 megawatts of the 8100 megawatts being generated are yet to be distributed by the Distribution Companies (Discos). 

Production Resumes At Dangote’s Tomato Plant In Kano

Activities have recently kick-off at the hitherto closed tomato paste factory owned by Alhaji Aliko Dangote, Africa’s richest man. Work was observed to have resumed in the factory located in Kano state of after being redundant for more than two years due to a supply disruption partly caused by a price dispute with the local farmers.

Nigeria, Ghana To Partner In New Business

Ghana's High Commissioner to Nigeria, Mr. Rashid Bawa during an interview in Abuja disclosed that the two West African giants, Nigeria and Ghana have moved to delve into new areas of business opportunities, which will also boost the economy and also strengthen the relationship of both countries. 

Nigeria's Inflation Rate Drops To 11.31% – NBS

Nigeria's statistical agency, on Friday, disclosed that the Consumer Price Index which measures inflation has dropped from 11.37 percent in January to 11.31 percent in February. The 11.31 percent represents a decline of 0.06 percentage points lower than the rate recorded in January.

SEC To Revamp Rules On Margin Lending

In a bid to recommence Margin Lending, the Securities and Exchange Commission (SEC) has announced that it is set to revise the rules on margin lending. SEC Acting Director General, Mary Uduk made the announcement during the first quarter post-Capital Market Committee (CMC) in Lagos.

NNPC To Take Over Operation Of OML From Shell - Buhari

As part of plans to boast the nation's revenue base, President Muhammadu Buhari on 13th March 2019 ordered the Nigerian National Petroleum Corporation to take over the operatorship of the entire Oil Mining Lease (OML) 11 from Shell Petroleum Development Company.

CBN Reduces Monetary Policy Rate To 13.50%

The CBN Governor, Mr. Godwin Emefiele, during a press conference at the end of a two-day MPC meeting held on Tuesday in Abuja, has reduced the Monetary Policy Rate (MPR) from 14% to 13.50%. This is done so as to aid the quest in addressing the rate of unemployment and also diversify the country’s economy. 

Nigeria's Foreign Trade Hits N32.26tn

The National Bureau of Statistics (NBS), has revealed that Nigeria’s total merchandise trade increased by 39.31 percent to N32.26 trillion (year on year) in 2018. This is in comparison to N23.16 trillion in 2017.