Economy

By Moses Patience Chat The Niger Delta Development Commission (NDDC) has said that it will not continue to depend on the Federal Government and International Oil Companies to generate funds for development projects in the region. …
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President Muhammadu Buhari has distanced himself from the Central Bank of Nigeria’s alleged disobedience to orders of the Supreme Court regarding the implementation of the Naira redesign and cash swap policy of the apex bank. …
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By Moses Patience Chat The Nigerian Export-Import Bank (NEXIM), has signed a Memorandum of Partnership with International Finance Institutions to enhance non-oil exports in the country. The Managing Director of NEXIM, Mr. Abba…
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Speaker of the House of Representatives, Femi Gbajabiamila, on Tuesday, attributed the current hardship occasioned by the naira and fuel scarcity to the activities of saboteurs. Gbajabiamila stated this during the launching of the…
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The Federal Government has said it would obey the ruling of the Supreme Court suspending the February 10 deadline given by the Central Bank of Nigeria, CBN on the exchange of naira notes. Recall that the apex court in its ruling…
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Oil company (file image) The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that the revenue that Nigeria earned from oil and gas revenue as of 2020 was $741.4 billion. The Executive Secretary, Dr. Orji…
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President Muhammadu Buhari has stated that the Nigerian economy is ripe for increased investment, hinting that  private capital flows into Nigeria, consisting mainly of Foreign Direct Investment, have slowed, hindering the financing of…
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The Director General, Budget Office of the Federation, Ben Akabueze, has recommended the suspension of salary increases for government agencies, discontinuation of Premium Motor Spirit (PMS) subsidy, among other measures to avert debt…
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Nigerian banks’ operating environments could deteriorate in 2022–2023 as adverse global economic conditions feed through to the local economy, Fitch Ratings said in a report Thursday. Fitch also said the pressures on banks’…
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Nigeria has earned about $119 billion from crude oil exports from 2017 to 2021 under President Muhammadu BuhariThe country produces over one million barrels of crude oil per day, which is a far cry from previous productionsExperts say…
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