The National Bureau of Statistics (NBS) says the country’s economy recorded a real annual growth rate of 0.83 per cent in 2017.

The NBS stated this in a “Nigerian Gross Domestic Product Report for Fourth Quarter 2017 and Full Year Report” posted on the bureau’s website.

The Bureau stated that the 2017 growth rate of 0.83 per cent was higher than the -1.58 per cent recorded in 2016, with a difference of about 2.42 per cent.

The Organisation of Petroleum Exporting Countries (OPEC), has commended Nigeria for ranking third among member countries in data submission.

Dr Omar Ibrahim, OPEC Governor for Nigeria disclosed this at the OPEC Data Management Training Workshop in Abuja, on Monday.

He said Nigeria has done well in the provision of credible data in the Oil and Gas sector.

“For some time, our record at data submission and also the accuracy of data, hasn’t been good in OPEC.

The House of Representatives Tuesday resolved to investigate the federal government’s failure to pay monies allocated for local contractors in the 2017 budget.

It also urged the ministry of finance to look into the indebtedness and source for fund to clear the backlog.

Mastercard and M-KOPA today at the Mobile World Congress, announced a partnership that will provide Africans living without electricity, a simple way to light up their homes and businesses.

M-KOPA, which already provides affordable, safe and clean energy to 3 million people in East Africa, will pilot Mastercard’s Quick Response (QR) payment technology in Uganda to extend the reach of its pioneering pay-as-you-go solar program.

Africa’s biggest supermarket chain, Shoprite Holdings, will take advantage of disarray in Kenya’s grocery sector to open its first stores in the major East African market by the end of this year.

Reuter's news agency reports that two of Kenya’s three top retailers - Uchumi Supermarkets and former regional No. 1, Nakumatt - are failing, opening the door to chains such as Shoprite and Carrefour.

Chief executive Pieter Engelbrecht said Shoprite had never considered Kenya before because of the dominance of those three players. Six of its seven new stores will be in Nairobi.

The Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has advised Nigerians with tax liabilities to take advantage of the Voluntary Assets and Income Declaration Scheme (VAIDS), as political, social or economic prominence will not insulate them from sanctions for non-declaration.

The Senate has condemned the abuse of the Federal Government’s fiscal policies by some corporate organizations involved in import businesses in the country.

Chairman, Senate Committee on Customs, Excise and Tariffs, Sen. Hope Uzodinma, made the assertion while leading members of the committee on an oversight visit to Nigeria Customs Service, Zone A, Yaba, Lagos.

Uzodinma said that one of the policies abused by the companies was Automotive Industry Incentive for Importation of Completely Knocked Down (CKDs) and Semi-Knocked Down (SKDs) parts.

Human rights advocacy group, Socio-Economic Rights and Accountability Project (SERAP), has called on the Federal Government to accept the recent report released by Transparency International (TI) and view it as a wakeup call to “raise its game to fight both grand and petty corruption, as well as end the legacy of impunity” in the country.

Oil prices extended gains to hit their highest level in nearly three weeks on Monday supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC-led-effort to cut global-supplies. Sweet Brent crude gained 12 cents or 0.2 per cent to 67.43 dollars.

The leadership of Nigeria Labour Congress (NLC), Nasarawa state chapter has called on the Governor of the state, Tanko Al-Makura to reverse the punitive transfer of NLC leaders who were instrumental to last year's three months strike or face fresh action. The call was made on Saturday by former and present Labour Leaders in Lafia at a ceremony to commemorate the 40th anniversary of NLC in the country.