ECONOMY

The Delta Economic Summit Group, Bridging the Investment Gap in Delta State

Home to about 52% of the oilfields in Nigeria, Delta State accounts for over 35% of the country’s oil output. However, there is more to the state than just oil deposits. Delta State is located in the South-South geopolitical zone

Federal Government Signs Renegotiated Contract with CCECC for Lagos-Calabar Rail Project

The Federal Government of Nigeria on Friday signed a contract with the China Civil Engineering Construction Corporation (CCECC) for the construction of the much-talked about Lagos-Calabar rail project. Representatives of both parties who were present at the formal ceremony included

The 35 Year Old Entrepreneur Who Owns Nigeria’s Second Biggest Rice Farm

Remember the chiché about young educated Nigerians and their supposed aversion to farming? One man has stolen the headlines recently for showing that there are exceptions to this rule. And he is doing it big time. Rotimi Williams, a 35-year-old

Sectorial Contribution to Nigeria’s GDP: Is ICT about to Displace Oil?

The usual line about Nigeria being a mono-product economy is probably so frequently used in conversations and speeches that many Nigerians do not even understand what it means. While it is true that a lot of what the country gets

What Brexit Means For Nigeria’s Economy

On June 23, the UK voted to leave the European Union. The decision has sent shockwaves across the world, with politicians, economists, the press and a good part of the globe’s population still trying to understand what this historical event

Federal Government Lists Conditions for States Bailout

Many states have found it hard to carry on with business as usual because of a sharp drop in the allocations they receive from the federal government. Now they could be getting some help from the government at the centre.

US Pecora Capital to Raise $2 Billion for Nigeria’s Infrastructure

US fund management firm, Pecora Capital, has decided to swim against the current by agreeing to come up with $2 billion for Nigerian infrastructure projects. This amount is to be raised over the next 18 months. Aaron Smith, Managing Director

Red Star Boss Commends FG On Currency Swap

The Group Managing Director of Red Star, one of Nigeria’s logistics company, has commended the Federal Government of Nigeria for its currency swap policy of Naira to Yuan, pointing out that this will help boost the logistics industry, as well

Banks Seek 10,000 Naira Limit on Across-the-Counter Withdrawals

The Bankers’ Committee has made known the intention of banks in the country to restrict physical cash withdrawals. Its sub-committee on payment systems and infrastructure proposed fixing the limit of cash withdrawals at ₦10,000 to Nigeria’s apex bank last week.

CBN to Reveal Flexible Forex Guidelines This Week

Reports making the rounds suggest that the Central Bank of Nigeria could be making its guidelines for the new flexible foreign exchange regimes this week. There is a general expectation that this will be done on Friday. The adoption of

Federal Government to Give Nigeria’s Economy a 350 Billion Naira Jumpstart

As Nigeria’s economic downturn continues to bite, the sights of its citizens have turned to the government, with the expectation that some action will be taken to dampen the wild flames that appear to have scorched the nation’s economic landscape.

Banks Bleed Thousands of Jobs, As Federal Government Tries To Halt Mass Retrenchment

Nigeria’s financial sector has in recent times been hit by a tsunami of job losses, with banks and other financial institutions seeking to respond to losses they made in 2015. Nigeria’s economy has hit a rocky patch, and the banks

Nigeria-South Africa Trade Now Worth ₦1.3 Trillion

In recent years, relations between Africa’s two economic powerhouses have undulated rather violently. Wave after wave of political, economic and diplomatic deals and toxic rows have made observing the progress in the partnership (or the lack of it) between these

Restrictions on the Use of Naira ATM Cards for Foreign Transactions

As the foreign exchange crisis continues to bite, more banks are imposing increasingly severe restrictions on the use of Naira ATM cards. While some banks have suspended the use of Naira ATM cards for any non-local use, others have maintained

Starting a Vegetable Farm

That backyard of yours may be lying dormant at the moment, a space in which you constantly battle with weeds. You think you killed them off a month ago, but they’re back now, mocking your efforts. Why not convert the

 Nigeria’s Forests and the Potentials of an Underutilised Resource

For much of a typical cross-country trip, the trees of Nigeria’s forests dominate the landscape. The typical reaction of travellers to the majestic sight is to watch in calm amazement or simply look on in indifference. In fact, a lot

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