Nigeria record increase in poverty rate in 2017-World Bank

Despite Nigeria’s celebrated exit from economic recession in 2017, the World Bank Group reveals that the country’s poverty and unemployment rates rose during the period.

The bank, in its ‘Nigeria Bi-annual Economic Update,’ reports that the rates of unemployment and unde [...]

Sun, 06 May 2018

Africa requires $170bn yearly for infrastructure- AfDB

An estimated $170billion is needed annually to meet Africa’s infrastructure requirement and to enable the continent exploit its development potentials in the global space, the African Development Bank, AfDB, has said.

The Secretary General of the bank, Prof. Vincent Nmehielle, who disclos [...]

Sun, 06 May 2018

CBN link 44million accounts in BVN project

Four years after the introduction of its Bank Verification Number project, the Central Bank of Nigeria said it has successfully captured over 31million account customers and linked close to 44million bank accounts in the BVN project.

The BVN was launched in February 2014 to revolutionise bankin [...]

Sun, 06 May 2018

NERC to address tariff issues

The Nigerian Electricity Regulatory Commission, NERC, has assured electricity consumers that it will be tackling power tariff challenges head-on, so as to put an end the lingering debate on electricity tariff in the country.

The assurance was given by the new Chairman of the commission, Prof. J [...]

Sun, 06 May 2018

Airtel launches 4G LTE in Abuja

Telecommunications service provider, Airtel Nigeria, has launched  its 4G LTE network in Abuja with an assurance that the latest technology would empower more Nigerians, stimulate economic activities across all sectors as well as provide unfettered access to affordable and reliable mobile broadba [...]

Sun, 06 May 2018

CBN denies claims of fire outbreak


The Central Bank of Nigeria has denied earlier reports of fire outbreak at its headquarters in Abuja. The bank maintained that the thick smoke witnessed earlier in the day was from a faulty generator.According to the Acting Director, Corporate Communicati [...]

Tue, 01 May 2018

NNPC N12bn deficit affects revenue allocation to states, others

Government revenue for the month of March 2018, dropped by N77billion due to a N12billion underpayment from the Nigerian National Petroleum Corporation, NNPC, and a 13 percent decrease in crude oil export sales.

According to the Federation Account Allocation Committee, FAAC, gross statutory rev [...]

Fri, 27 April 2018

NCC remits N49.7bn to Consolidated Revenue Fund in Q1

The Nigerian Communications Commission, NCC, said it has remitted over N49.7billion into the Consolidated Revenue Fund, CRF, account n the first quarter of the year 2018.

With this remittance, the commission has taken the lead in making early payments to the CRF as it generates revenue, as agai [...]

Fri, 27 April 2018


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23 February 2020

PhotoFunding: polys convert consultancy units to coys

Some polytechnics in the country have converted their Consultancy Units to limited liability companies to bolster their revenue generation.


23 February 2020