Archives Tag: economy
EU-Nigeria Trade Volume Reaches N8.5tn
April 19, 2022
The Head, European Union Delegation to Nigeria and the ECOWAS, Ambassador Michel Arrion, has stated that the value of trade relations between Nigeria, Africa’s largest economy and the European Union currently stands at €40.4bn (N8.5tn). Arrion, who spoke at the EU-Nigeria business forum in Lagos on Tuesday, said the block’s Foreign Direct Investment stock … Continue reading EU-Nigeria Trade Volume Reaches N8.5tn
By elizabeth
Rice Production to Boost Nation’s GDP by $9bn, Says Adesina
April 19, 2022
Dr. Akinwunmi Adesina, the Minister for Agriculture and Rural Development, has predicted that when new investments on facilities for rice production and processing becomes fully operational, rice would be adding about $9 billion yearly to the nation’s GDP. He made this prediction in Rukubi, Nasarawa State during the inspection of the 420 hectare rice farm … Continue reading Rice Production to Boost Nation’s GDP by $9bn, Says Adesina
By mary-odunuga
Benefits of SME’s to the Nigerian Economy
April 19, 2022
Small and medium enterprises are companies whose number of employee’s or output falls beneath specific digits. According to research findings, small companies are classified to have less than 50 employees, while medium sized companies are those that have employees of less than 250. SME’s play a dynamic role as engines through which developing countries … Continue reading Benefits of SME’s to the Nigerian Economy
By kobe
Senate Confirms Adelabu Deputy Governor of CBN
April 19, 2022
Yesterday, the Senate appointed Mr. Adekola Adelabu as the Deputy Governor of the Central Bank of Nigeria (CBN). The appointment followed the consideration of the report of Senator Bassey Otu who said that the committee on banking, insurance and other financial institutions had screened Adelabu on Wednesday and having given satisfactory answers to their … Continue reading Senate Confirms Adelabu Deputy Governor of CBN
By mary-odunuga
Emefiele Takes Strong Naira Stance as Senate Confirms him New CBN Governor
April 19, 2022
The incumbent CBN governor, Godwin Emefiele took a strong stance some days ago in favor of the naira as the senate confirmed him. He indicated that the CBN’s exchange rate policy was right and that a devaluation of the NGN will be devastating for the economy. Development analysts regard his decision not to depart from … Continue reading Emefiele Takes Strong Naira Stance as Senate Confirms him New CBN Governor
By mary-odunuga
BUSINESS ECONOMY Uncategorized
Sterling Bank Post N9.3bn Profit
April 19, 2022
Sterling Bank Plc on Wednesday, March 26, 2014 reported a net profit of N9.3 billion for the year ended December 31, 2013 indicating an increase of 24 per cent compared with N7.5 billion reported in the 2012. The bank is rewarding its shareholders with a dividend of 25 kobo per share, up 25 per … Continue reading Sterling Bank Post N9.3bn Profit
Dangote Cement Achieve a Record Revenue of N386.2bn
April 19, 2022
Dangote Cement Plc, on Wednesday, March 26, 2014 announced its financial performance for the year ended December 31, 2013 with a revenue of N386.2 billion, an increase of 29.4 per cent from N298 billion in 2012. Profit before tax stood at N191 billion compared with 135 billion, while profit after tax rose to N201 billion … Continue reading Dangote Cement Achieve a Record Revenue of N386.2bn
Nigeria’s Manufacturing Sector Grows 7.7 Percent – World Bank
April 19, 2022
Nigeria’s manufacturing sector grew from 6.5 percent to 7.7 percent in the 2012/2013 year, according to a report by the National Bureau of Statistics. Likewise, the retail and sales sector achieved a 2 percent growth from 22 percent to 24 percent within the same period. The survey report was launched yesterday in Abuja by the … Continue reading Nigeria’s Manufacturing Sector Grows 7.7 Percent – World Bank
Nigeria To Become a Global Economic Powerhouse in 2015 – Jim O’Neill
April 19, 2022
Renowned economist Jim O’Neill has tipped Nigeria as one of the four nations that would lead the global economy in 2015. In an interview with Al Jazeera, O’Neill, who coined the term BRICS (an acronym for Brazil, Russia, India, China, and South Africa) in 2001 to represent four of the fastest growing economies in the world, noted … Continue reading Nigeria To Become a Global Economic Powerhouse in 2015 – Jim O’Neill
BUSINESS ECONOMY International News
Positive Data Floods US & UK as Economic Recovery Continues Steadily
April 19, 2022
Driven upward by the eurozone’s strongest economy, Germany, the Manufacturing PMI for the region grew to 51.6 in November, up from October’s 51.3 and rising steadily for a fifth consecutive month just as analysts predicted. The eurozone Services PMI on the other hand weakened slightly to 51.2 in November, but whilst the reading was lower … Continue reading Positive Data Floods US & UK as Economic Recovery Continues Steadily
By kunle-binuyo
Nigeria Attracts N205 Billion Investment to Retail Sector in Two Years
April 19, 2022
Nigeria’s Minister of Industry, Trade and Investment, Olusegun Aganga, has disclosed that over N205.4 billion worth of new investments were made into the country’s retail sector the past two years. The minister made the disclosure during the launching of the Retail Council of Nigeria in Abuja, on Monday, while noting that Nigeria’s retail sector is … Continue reading Nigeria Attracts N205 Billion Investment to Retail Sector in Two Years
By kunle-binuyo
Nigeria, Russia to Promote Investment in SMEs
April 19, 2022
Nigeria’s relationship with other countries might start to pay off soon. Nigeria is working on bringing in Russian investors with focus on building SMEs and two other sectors of the economy – the oil and gas and agricultural sectors. To this end, a business forum is to hold in Moscow this week where Nigerian and … Continue reading Nigeria, Russia to Promote Investment in SMEs
Nigeria, France Bilateral Trade Hits N1 Trillion
April 19, 2022
Trade volume between Nigeria and France have hit N1 trillion, the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, has said. He made this known last week during the Small and Medium Scale Enterprises development Memorandum of Understanding agreement signing ceremony in Abuja. The French Minister of Foreign Trade, Mrs. Nicole Bricq was also … Continue reading Nigeria, France Bilateral Trade Hits N1 Trillion
By sheyi
Nigeria-Indonesia Trade Hits $449M
April 19, 2022
Trade volume between Nigeria and Inodnesia currently stands at $449 million, and is projected to increase by 12 percent this year, according to the Indonesia Trade Promotion Centre (ITPC). Director of ITPC, Mr. Pontas Tobing, at a briefing to announce ITPC’s 28th Trade Expo Indonesia, noted that the recent growth witnessed is due to the … Continue reading Nigeria-Indonesia Trade Hits $449M
By sheyi
Discover Nigeria: A Boom That Brought Poverty
April 19, 2022
Right after the civil war, oil boomed. Nigeria’s exports from crude oil had burgeoned almost fifteen times in size from the early days of crude exportation in the 1960s. The meteoric rise of Germany and Japan had put a lot of demand on oil, shooting its price to astronomic levels. Coupled with the embargo on … Continue reading Discover Nigeria: A Boom That Brought Poverty
By nehijesu
