Economy
Nigeria: FG says no increase in taxes as revenue more than double at N9.1trn in Q1
The Federal Government of Nigeria’s revenue for the first quarter of 2024 increased to N9.1 trillion which is more than double in the same period in 2023, according to Mr Wale Edun, the Minister for Finance and Coordinating Minister of the Economy. Edun represented by Dr Armstrong Takang, the Managing…
Read More »Blue Economy: Nigeria set to host deep seabed workshop
As part of efforts to harness the Blue Economy sector for sustainable growth and development in Nigeria, the Federal Ministry of Marine and Blue Economy is set to host a global workshop on Deep Seabed activities. This initiative is in collaboration with the Nigerian Maritime Administration and Safety Agency (NIMASA).…
Read More »Petrol price hike: Tinubu betrayed us – NLC
The Nigeria Labour Congress(NLC) has called for the immediate reversal of the new price increase in pump price of petrol across the country. The Congress made the demand in a statement issued on Tuesday in Abuja by its President, Mr Joe Ajaero and made available to newsmen. The Nigerian Petroleum Corporation Ltd.…
Read More »NAICOM, Nigeria Governor’s Forum collaborate to deepen insurance penetration across states
By Abiodun Folarin The National Insurance Commission (NAICOM), has sought the partnership with the Nigeria Governor’s Forum (NGF) to deepen insurance penetration across the 36 states of the federation. The Commissioner for Insurance and Chief Executive NAICOM , Mr. Olusegun Ayo Omosehin disclosed these recently during his visit to…
Read More »IMF says Nigeria needs further reforms on governance, business regulations to grow GDP
The International Monetary Fund (IMF) has reacted to Nigeria’s projected 3.1 per cent Gross Domestic Product (GDP) outlook for 2024, saying it is dependent on implementation of stronger reforms. Dr Christian Ebeke, IMF Resident Representative said at the Lagos Chamber of Commerce and Industry (LCCI) International Business Conference and Expo 2024…
Read More »NCC: A Digital Enabler of the Renewed Hope Agenda
In Nigeria, a young tech-savvy and upwardly mobile population is teeming, and exploring derivable benefits of digital technologies. They are propelled by rapidly expanding internet access and steady broadband penetration, currently about 43 per cent. Our digital economy is poised for significant growth, positively impacting various sectors and benefiting the…
Read More »IMF retains global growth at 3% in 2024
By Abiodun Folarin The International Monetary Fund (IMF) has said that global growth is projected to remain unchanged at 3.2 per cent in 2024 and 3.3 per cent in 2025. This is according to the IMF’s latest World Economic Outlook (WEO) Update Report for July 2024: “The Global Economy…
Read More »Aigboje Aig-Imoukhuede Honoured with African Banker Lifetime Achievement Award
The Chairman of Access Holdings PLC and Coronation Group, Aigboje Aig-Imoukhuede, CON, has been honoured with the prestigious African Banker Lifetime Achievement Award. This distinguished accolade was presented at the African Banker Awards gala dinner and awards ceremony held in Nairobi, Kenya, on the sidelines of the 2024 Annual Meetings…
Read More »Nigeria: Reps query OAGF’s payment of N15b to Remita
The House of Representatives Public Accounts Committee (PAC) has queried the payment of N15 billion to Remita, a payment platform from the Office of the Accountant General for the Federation (OAGF). The committee accused the Central Bank of Nigeria (CBN) and Commercial Banks of complicity in the sharing of the…
Read More »CBN confirms merit-based selection of Remita to provide electronic platform
The Director of Banking Services, Central Bank of Nigeria (CBN), Hamisu Abdullahi, highlighted the merit-based selection of Remita to provide an electronic platform essential for facilitating payments from Ministries, Departments, and Agencies (MDAs) to beneficiary accounts across commercial banks. He said this when officials of the Central Bank of Nigeria…
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