Economy

Minister of Transportation, Rotimi Amaechi has stated that Nigerian government has the capability to pay back loans collected for the construction of rail projects within the stipulated period of 20 years. Amaechi, in a statement on…
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Federal Inland Revenue Service (FIRS) is working on a stamp duty palliative package for tenants across the country to mitigate the impact of COVID-19. Executive Chairman, Mr. Muhammad Nami, made this disclosure on Monday during a live…
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The Federal Government said the June 21 date for the restart of domestic flights in the country is not feasible. The Minister of Aviation, Hadi Sirika, made this known at the Presidential Task Force on COVID-19 briefing in Abuja on…
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Dangote Cement has put Nigeria on the world map with the exportation of 27,800 metric tonnes of clinker to a neighbouring African country, reaffirming its status as Africa’s biggest cement producer. With this historic maiden voyage from…
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The NNPC said it is taking measures to bring down cost of crude oil production to 10 dollars per barrel or below. The Corporation’s Chief Operating Officer (COO), Ventures and Business Development, Mr Roland Ewubare, said this on a TV…
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President Muhammadu Buhari has come to the rescue of Nigerian state governments, as he approved the suspension of deductions of loans and bailout funds from their shrinking monthly allocation. Buhari had last year approved a 30-year…
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The Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal Government and Central Bank of Nigeria (CBN) to provide spending details of public funds and private sector donations to provide socio-economic benefits to…
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The devaluation of Nigeria’s currency Naira by the Central Bank of Nigeria from the official rate of N307 to N360 has triggered mixed reactions from analysts. Prof. Uche Uwaleke, a professor of Finance and Capital Market at the Nasarawa…
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Over 100 tonnes of bad Naira notes are generated as wastes and destroyed weekly, the Central Bank of Nigeria has said. The apex bank said the Naira notes are destroyed weekly through open-air burning at its 12 disposal centres across the…
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Nigeria’s external reserves recorded a decline of $4.47bn from $42.54bn as of the beginning of 2019 to $38.07bn as of the end of December. The $4.47bn, according to data obtained from the Central Bank of Nigeria, represents a decline of…
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