Business

Inflation rate drops by 0.99% in March

Nigeria’s inflation rate dropped by 0.99percent points to hit 13.34percent in March 2018, away from the 14.33 percent recorded in February, the National Bureau of Statistics, NBS, has disclosed.

The Bureau reports in its Consumer Price Index, CPI, which measures inflation, that the figure [...]

Sun, 15 April 2018


Economic recovery, CBN ask policy makers to be vigilant

Nigeria’s apex bank has asked policy makers and leaders to remain vigilant so the country does slip back to another economic recession, stressing that it is not time to be confident of the recovery made.

The governor of the Central Bank, Mr. Godwin Emefiele, gave the advice at the 25th ed [...]

Sun, 15 April 2018


MTN pays 50% unregistered SIM fine to Nigeria

MTN Nigeria has so far paid over 50percent of the N330 billion fine slammed on it in for its failure to comply with the federal government’s rules on deactivation of unregistered SIM cards.

The Nigerian government had in October 2015, imposed N1.04trillion fine on the telecom giant for fa [...]

Sun, 15 April 2018


PenCom drafts joint mortgage guidelines for couples

The National Pension Commission, PenCom, said it is mapping out new strategies that will allow married couples draw mortgages from their retirement savings under the Contributory Pension Scheme.

The new guideline, when fully implemented, will allow spouse who have Retirement Savings Accounts wi [...]

Fri, 06 April 2018


World Bank unveils new lending structure for Nigeria, others

Nigeria is in talks with the World Bank Group on ways to manage certain environmental and social risks in investment projects proposed for World Bank financing support beginning from October this year.

The Senior Communications Officer, Nigeria, World Bank, Mrs. Olufunke Olufon, said consultati [...]

Fri, 06 April 2018


Domestic debt: CBN calls for caution

The Monetary Policy Committee of the Central Bank of Nigeria, CBN, has cautioned the federal government over its rising domestic debt profile and the impact on the cost of borrowing, saying such status could further discourage the private sector.

Rising from its 260th meeting in Abuja, the comm [...]

Fri, 06 April 2018


FG to reduce unemployment through ERGP labs

The federal government is optimistic that the rate of unemployment in the country will be significantly reduced through the implementation of the focussed laboratories under the Economic Recovery and Growth Plan, ERGP, of the present administration.

The Minister of Budget and National Planning, [...]

Fri, 06 April 2018


PIB: NNPC wants consultants to make bold recommendations

 

The Nigerian National Petroleum Corporation, NNPC, has charged its consultants on the Petroleum Industry Reform Bill, PIB, to take a comprehensive look at issues in the oil and gas sector and make bold recommendations for enduring reforms.

A statement by the corporation sa [...]

Fri, 06 April 2018


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