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

Federation allocation drops by N300bn in March

Allocation into governments’ purse for March has dropped significantly to N299.747 billion, due to the drop in revenue generated in the period.
The over N300billion drop from the N338.765 billion shared the previous month, government officials said, reflects a seasonally low collection per [...]

Tue, 26 April 2016

As Fuel scarcity persists: DESPERATE TIMES FOR RESIDENTS

As fuel scarcity persists and the crisis in the power sector lingers coupled with limited liquidity in circulation, residents of the Federal Capital Territory, FCT, have adopted desperate measures to cope with the tough times.
Most of those who spoke to our correspondent said they have had to cu [...]

Tue, 26 April 2016

CPC to sanction telecoms for consumer right abuses

The Consumer Protection Council, CPC, has said Nigeria can no longer tolerate the flagrant disregard for consumers’ right laws by telecommunication operators, as the council will henceforth evoke appropriate laws to sanction offenders.
Deriding the torrent of complaints received from telec [...]

Mon, 18 April 2016

Financial stability rocky in emerging markets – IMF

Emerging economies have been warned of higher financial instabilities owing to market uncertainty, low investors’ confidence and poor economic growth witnessed in most recent times.
The International Monetary Fund, IMF, in its Global Financial Stability Report, released last week in Washin [...]

Mon, 18 April 2016

Abuja Horror! Tenant burns landlady, family to death

It was a tale of horror in Bwari area council, Abuja, weekend, when a tenant set his landlady and four other family members ablaze and burnt them to death.
The suspect, names withheld, said to be in his late twenties allegedly set his landlady’s apartment on fire killing her, her son, a da [...]

Sun, 17 April 2016


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