Nigerian Economy

Nigeria’s Economy at a Glance   Inflation                  15.37 Exch. Rate (USD)    ₦305.75 MPR                       14 Crude Oil Price     $69.74

Biz & Econs Review: State of Nigerian economy

The new edition of Business & Economy Review magazine features many corporate news information. However, the thrust of the magazine is the Nigerian economy. The Publisher’s Brief also reflects on the Nigerian economy and issues with promoting made-in-Nigeria products. The magazine was unveiled at the 2017 Greenspring Made in Nigeria Conference and awards.

State of Nigerian economy 2017 in review

Nigeria in February 2017 – Nigeria’s economy is projected to have contracted 1.54 percent in 2016, according to a budget ministry document, with Africa’s most populous country mired in its first recession in a quarter of a century. Nigeria is heavily dependent on crude oil exports to fuel its economy, but low global prices and […]

NCC says ICT contributes largely to Nigerian economy

The quarterly contribution of Information and Communications Technology (ICT) sector to the Gross Domestic Product (GDP) has increased to N1.6 trillion from N1.4trn, the Nigerian Communications Commission has said. The NCC’s Executive Vice Chairman, Professor Umar Danbatta, who disclosed this yesterday when he paid a courtesy visit to the Minister of Federal Capital Territory, also […]

How this Nigerian company helps grow the Nigerian economy

African Industries is a West African multinational with more than 8,000 staff from more than 10 nations all inclusive. The group has 12 fabricating plants crosswise over Nigeria, out of which six are steel producing plants. A portion of the auxiliaries incorporate African Steel Mills and Ikorodu Steel Mills in Lagos State; African Foundries, Ogijo, […]

How low production and manufacturing kills Nigerian economy

Minister of Budget and National Planning, Mr Udoma Udo Udoma, has blamed the slow growth of Nigeria’s economy on weak production and manufacturing sector. Udoma told members of The Situation Room, a civil society group, on Tuesday in Abuja, that economic downturn had made the Federal Government to focus on the fundamentals of issues frustrating […]

New yam export moves will grow Nigerian economy

Efforts by the federal government to diversify the economy is beginning to yield results, as the federal government is set to export 72 metric tonnes of yam to Europe and the United States today. In a major diversification breakthrough, the minister Of Agriculture, Audu Ogbeh, announced yesterday that the Federal Executive Council (FEC) has approved […]

Saving the Nigerian economy through ICT

Minister of Communications, Mr. Adebayo Shittu, has said that the ministry would leverage on information and communication technology (ICT) to  rejuvenate the Nigeria’s economy as well as encourage online jobs through the implementation of various initiatives. The minister stated this recently in a keynote address at the opening ceremony of the Ife Youths Economic Summit […]

High interest rates cripples Nigerian economy

Nigeria’s Organised Private Sector (OPS) has implored monetary authorities to take acceptable measures in reflating the economy through monetary easing and reduction of the high interest rate, which it said are currently stifling economic growth in the country. The Nigerian Employers Consultative Association (NECA), at the quarterly meeting of its Governing Council in Lagos, said […]

Grow Nigerian economy: Buy made in Nigeria products

Nigerians have been tasked to use more of the Country’s locally made products and services, if they want to see the country  succeed. Its proponents believe this would put the country on the world map, and  earn Nigeria a place of pride in the comity of nations. Over the past months,there’s been an increasing call […]

Nigerian economy would soon record positive growth – Analysts

Some financial market experts have expressed optimism that the Nigerian economy would soon record positive growth. The experts, who spoke in separate interviews, also urged the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) to commence gradual easing of monetary policy from its next meeting. Nigeria’s first quarter of the year (Q1 2017) Gross […]

Dizengoff: Having full interest in the Nigerian economy

Dizengoff has been operating in Nigeria since 1958, fully in support of growing the Nigerian economy. The company finds the new democratic development in Nigeria to be very encouraging, although there are enormous challenges for businesses and government in Nigeria. However, food security is something that all countries of the world are concerned about. True, […]

Various Nigerian commentators’ comments on The Young Engineer and the Future of Nigerian Economy

 I found your article “The Young Engineer and the Future of NigerianEconomy” interesting in what you did not explore: that is, whetherengineering is still a rewarding profession for those of us practicingit, and thus worthwhile recommending to the younger generation.I became an engineer because I really had no other choice.From myyounger days, I enjoyed playing […]

Nigerians challenge Chinese invasion of economy

At Lagos’s Computer Village, buyers, sellers, wholesalers, hawkers and opportunists jostle for a piece of a booming industry. On a recent Wednesday tall stacks of shrink-wrapped printers and copying machines sat along muddy gravel streets. Peddlers hawked batteries, keychain USB drives and every conceivable model of mobile phone out of cardboard boxes. Bigger deals went […]

Release Henry Okah, Nigerian government told

The Convener of the Niger Delta People’s Congress, Chief Mike Loyibo, has requested the prompt arrival of Henry Okah and a few others detained regarding the October 1, 2010 Abuja bombings. Okah is as of now serving a 24-year imprison term in South Africa for purportedly engineering a progression of fear assaults, including the twin […]

To grow the economy, source raw materials in Nigeria – CEO

The Managing Director, Grand Oak Nigeria Ltd., a sister company of Nigerian Distilleries Ltd. (NDL), Fatai Odeshile, has advised manufacturing companies operating in the country to engage in backward integration by sourcing their raw materials locally in order to grow the economy. Odeshile gave the charge last week in Abeokuta while speaking to journalists after […]

Nigeria: How MFBs are contributing immensely to the economy

THE Central Bank of Nigeria (CBN) has said the ten microfinance banks account for 40 percent of total loans in the subsector. Director, Other Financial Institution and Supervisory Department (OFISD) Central Bank of Nigeria (CBN) Mrs. Tokunbo Martins, disclosed this at the just concluded second annual two-day professional seminar organized by the National Association of […]

Oshiomhole says IBB should apologise to Nigerians

Former Edo State Governor, Adams Oshiomhole, has said that former Military President of Nigeria, General Ibrahim Badamosi Babangida, owed the nation apology for contributing to where the country found itself. Oshiomhole was speaking at the 5th Triennial Delegates Conference of the Petroleum And Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in Abuja, where he […]

Nigerian banks and Economic Recovery and Growth Plan

The Federal Government launched the Economic Recovery and Growth Plan with the vision to “drive a structural economic transformation which lays emphasis on improving both public and private sector efficiency”.  In order to achieve three broad strategic objectives of “restoring growth, investing in our people and building a globally competitive economy”, the Plan outlines five […]

Pray, work towards peace, GEJ urges NIgerians

A former President Goodluck Jonathan on Monday called on Nigerians to pray and work toward the nation’s unity, as Muslims celebrate Eid-el-Fitr. Jonathan made the call in Abuja while playing host to a delegation of former Peoples Democratic Party (PDP) Ministers Forum. The immediate past president said that no nation’s economy could grow where there […]

Proshare economy statistics 2017

PROSHARE ECONOMY Strongest World Growth Expected Since 2010 – Fitch – The recovery in global growth is strengthening and is expected to pick up to 2.9% this year and peak at 3.1% in 2018, the highest rate since 2010, says Fitch Ratings in its latest Global Economic Outlook (GEO). Source Proshare Read More Agricultural finance […]