Business

States get Dec. deadline to implement TSA

The 36 states of the federation have until have December this year, to fully implement a centralized Treasury Single Account, TSA, in their respective states, so as to allow for proper monitoring of their revenues and expenditure.
The directive, which is contained in the Draft Fiscal Sustainabil [...]

Mon, 06 June 2016


Nigeria to get $11million investment in greenhouse project

The federal government has said it will welcome the proposed investment of about US$11Million Green House Vegetable project into the agricultural sector by Wells San-Carlos Green House Farms Limited.
At a meeting between the Ministry of Agriculture and representatives of the Mexican firm, Wells [...]

Sun, 01 May 2016


Renewable energy: firm wants tax wavers on imports

An Abuja-based renewable energy company, Blue Camel Energy, has called on the Nigerian government to remove import duties on equipment procured for solar installations in the country to reduce cost.
Chief Executive Officer of the company, Mr. Yusuf Suleiman, made the call in Abuja at an exhibiti [...]

Sun, 01 May 2016


Telcom sector contributes 8.8% to GDP in Q4

According to the National Bureau of Statistics, NBS, the telecommunications sector alone, contributed N1,645,82 billion or 8.8% to Nigeria’s Gross Domestic Product  in  the last quarter of 2015.
The latest figure is slightly higher than the 8.76% contribution recorded in the same [...]

Sun, 01 May 2016


Diversification: FG promise more investment in industrial sector

As part of efforts at diversifying the Nigerian economy, the federal government said it will make available more funds for industrialists, while strengthening its relationship with industrial economies like China.
Speaking at the recent the China-Africa Trade, Investment Summit held in Abuja, th [...]

Sun, 01 May 2016


Govt. borrowing from banks increase by 4% in 4Q

Government borrowing from commercial banks in the country has been on the rise in recent times with an over 3.8 percent increase in lending in the 4th quarter of 2015.
Records from the Central Bank of Nigeria reveal that a total credit of N2.89trillion was received by the federal government from [...]

Sun, 01 May 2016


World Bank recants, forecasts improved oil price

Despite growing market sentiments and a weakening dollar, the World Bank has raised its 2016 forecast for crude oil prices to $41 per barrel from the $37 per barrel it had earlier projected.
The rebound comes after an initial dip of $25 per barrel in mid-January to $40 per barrel in April follow [...]

Sun, 01 May 2016


FG to get France’ €50million loan for power training in Nigeria

The Nigerian government will next month sign a €50million loan arrangement with the French government for the development and upgrading of power training facilities in the country.
Director-General, National Power Training Institute of Nigeria, NAPTIN, Mr. Reuben Okeke, who dropped the hint [...]

Tue, 26 April 2016


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