Category: Economy

Agricultural, manufacturing and the sectors considered as growth and employment stimulating, can now borrow long term as much as N10 billion at consolidated nine per cent interest rate under new guidelines issued by the Central Bank of Nigeria. The new credit policy called Guidelines for Accessing Real Sector Support Facility (RSSF) through CRR and Corporate […]

The 3rd Annual Maritime Conference holding in Lagos has unveiled that Nigeria controls 70 per cent of the economies of West and Central Africa. The conference with the theme, “ Port Costs and Ports Charges: A Recurring Decimal under Port Reform Regime”, was held in honour of Dr. Taiwo Afolabi, Group Executive and Vice Chairman, […]

The Peoples Democratic Party, PDP, has alleged that President Muhammadu Buhari’s poor understanding of current global economic dynamics and humongous corruption in his Presidency have wrecked Nigeria. It said the limit of the economic knowledge of the President and the APC was also directly responsible for the accumulated N22 trillion national debt burden on the […]

The Nigerian National Petroleum Corporation (NNPC) says it has plans to establish 100,000-barrels-per-day brownfield refineries in Port-Harcourt and Warri to boost local refining of crude oil in the country. The Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, disclosed this in a statement issued on Tuesday in Abuja. Ughamadu said that the effort […]

The Central Bank of Nigeria has sustained its intervention in the inter-bank foreign exchange market by injecting 210 million dollars into the various segments of the market. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor, on Tuesday in Abuja, said the apex bank offered 100 million dollars as wholesale interventions and allocated 55 million […]

Nigerians will pay 14 percent increase above their current residential consumers electricity tariff if the Federal Government goes ahead to implement its newly introduced Eligible Customer policy in the power sector, according to power distribution companies. In July this year, the Minister of Power, Works and Housing, Babatunde Fashola, said in order to accelerate power […]