Business

Price of cooking gas drop as inflation rate surge

Despite the increase in inflation rate witnessed in May 2019, the cost of cooking gas dropped significantly during the period.

The National Bureau of Statistics, NBS, reports that the average cost of refilling a five kg cylinder of Liquefied Petroleum Gas dropped to N2,028.04 in May 2019, from [...]

Sat, 22 June 2019


FG saves N273bn from IPPIS in two years

A total of N273.8billion was saved from the implementation of the Integrated Personnel and Payroll Information System, IPPIS, between 2017 and 2018.

The Accountant-General of the Federation, Ahmed Idris, told heads of federal universities that the amount would have been lost, but for the federa [...]

Sat, 22 June 2019


Nigeria to solicit $2.7bn foreign loan in 2019

Nigeria is looking to borrow $2.7billion from foreign sources including commercial sources such as Eurobonds, the Debt Management Office has disclosed.

The debt office, made this know while clarifying a report that claim the federal government had ruled out the issuance of Eurobonds in 2019.

Sat, 22 June 2019


CBN refutes reports on FDI decline in 2018

The Central Bank of Nigeria, CBN, has refuted media reports that suggested a decrease of over 40percent in Foreign Direct Investment inflows into the country in 2018.

The apex bank said FDI rather witnessed an increase during the financial period, as total capital inflows to Nigeria stood at $1 [...]

Sat, 22 June 2019


Domain name: NITDA to sanction MDAs, others

The National Information Technology Development Agency, NITDA, has warned data centres and cloud service providers in the country to desist from hosting government data abroad or risk facing sanctions.

Director General of NITDA, Dr Isa Ibrahim, advised ministries, departments and agencies to se [...]

Sat, 22 June 2019


Swiss govt donates funds for urban, climate dev’t in Africa

The Swiss government has agreed to make available the sum of 3.2million Swiss francs for funding of African initiatives through the African Development Bank.

The agreement which was signed by the continental bank and the State Secretariat for Economic Affairs of the Government of the Swiss Conf [...]

Sun, 16 June 2019


3 states to get NIRSAL’ N4.5bn loan for maize farming

Farmers in will Benue, Niger and Ekiti states will receive a N4.5billion loan to boost maize and soybean production in the 2019 wet season.

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, NIRSAL, said the credit will be disbursed to 3,750 farmers in the pilot states un [...]

Sun, 16 June 2019


Shocking: Gorilla allegedly swallows N7m in Kano

Another shocking story making the rounds, after last year’s JAMB money-swallowing snake, has claimed that a big Gorilla swallowed N6.8 million in the Kano Zoological Gardens during Sallah celebration.

According [...]

Sun, 16 June 2019


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