The Nigerian economy has continued in its positive trajectory, growing by 1.92% in the last quarter of 2017, which is higher than the previous quarter and the second quarter when it grew by 1.40% and 0.72% respectively. Minister of Budget and National Planning, Udoma Udo Udoma, who briefed State House correspondents after Wednesday’ meeting of the Federal Executive Council, said the sustained growth also showed that the economy has fully exited recession.

The Central Bank of Nigeria on Tuesday gave a boost of $210 million to the interbank foreign exchange market.

The CBN has offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Scale Enterprises segment received the sum of $55 million, according to figures released by the Bank.

U.S. Secretary of State Rex Tillerson said on Thursday that African countries should be careful not to forfeit their sovereignty when they accept loans from China, the continent’s biggest trading partner.

Tillerson is using his first diplomatic trip to the continent to bolster security alliances on a continent increasingly turning to Beijing for aid and trade.

He may also seek to smoothen relations after U.S. President Trump reportedly dismissed some African nations as “shithole countries” in January. Trump later denied making the comment.

“We are not in any way attempting to keep Chinese dollars from Africa,” Tillerson told a news conference in the Ethiopian capital. “It is important that African countries carefully consider the terms of those agreements and not forfeit their sovereignty.”

Sen. Hadi Sirika, Minister of State for Aviation, has expressed delight with Nigeria’s retention of its Category One (CAT 1) Status after another audit in the industry. The retention follows a successful re-certification audit conducted on the nation’s aviation facilities by the United States Federal Aviation Administration (FAA).

Apapa Gridlock: Dangote Loses N2b Monthly

The Management of Dangote Group says its sugar and salt companies lose about N2 billion monthly to the perennial traffic gridlocks on Apapa Port roads every month.

The company’s traffic Manager, Mr Mohammadu Rabiu, revealed this at a stakeholders meeting called at the instance of the Western Naval Command of the Nigerian Navy in Lagos.

Nigeria is currently experiencing a revolution in rice production, thanks to the Federal Government's Anchor Borrowers' Programme, according to the Minister of Information and Culture, Alhaji Lai Mohammed.

Speaking in Jega, Kebbi State, on Sunday while leading a delegation of over 30 journalists on an inspection of rice farms across the state, he said the benefits that have accrued to rice farmers in the provision of improved seedling, farm input and extension services have led to the increase of yield per hectare from 2.5 to between 10 and 11 metric tonnes.

"The difference between then and now is the Anchor Borrowers' Programme, because with the Anchor Borrowers' Programme, the average farmer today is assisted in terms of input, agronomic practices and seedling,” he said.

Economic Recovery And Growth Plan: Buhari To Inaugurate Focus Labs

The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, said the Economic Recovery and Growth Plan ERGP Focus Labs would be inaugurated by President Muhammadu Buhari next Tuesday.

The Minister stated this when he briefed State House correspondents on the outcome of the meeting of Wednesday’s Federal Executive Council (FEC), presided over by President Muhammadu Buhari.

The Nigerian Stock Exchange (NSE) resumed on Monday with a growth of 1.49 per cent, as predicted by market analysts. The News Agency of Nigeria (NAN) reports that the All-Share Index rose by 637.70 points or 1.49 per cent, as a result of gains by some highly capitalised stocks. Similarly, the market capitalisation which opened at N15.403 trillion rose by N229 billion or 1.49 per cent to close at N15.632 trillion.

Nigeria’s power crisis is in for more shocking waves as 13 power generation companies (GenCos) have sued the federal government for giving “preferential treatment” to two competitors with intent to harm the business interests of the others.

The GenCos, who said they are on the verge of collapse over debts in excess of N1 trillion, currently generate 80% of the power consumed in Nigeria.

Egypt aims to increase production at its huge Zohr offshore gas field in the Mediterranean to 700 million cubic feet per day in May from about 350 million cubic feet per day currently, Petroleum Minister Tarek El Molla told Reuters on Sunday.