Category: Business
Atiku Abubakar, a major contender among the Presidential aspirants of the Peoples Democratic Party (PDP), has said that his agenda (5-point) is built around a well-developed strategy that will revamp the Nigeria’s ailing economy and transform the polity. This was confirmed in the abridged version of his campaign document, which was shared with Nairametrics by […]
The Federal Government has activated a passport tracking system that allows applicants to monitor and know the status of their application online. This was disclosed by the Minister of Interior, Rauf- Aregbesola, during the passing out parade of the 47th Basic Superintendent Course, 2021/2022 at the Nigerian Immigration Service training school, Kano on Tuesday. Aregbesola […]
The Central Bank of Nigeria’s Monetary Policy Committee has jacked up benchmark interest to 13 per cent, 150 basis points above the previous rate. It is the first change since September 2020 and the fist hike in six years. The Governor of the Central Bank, Godwin Emefiele, made this known while reading the communique of the […]
The Minister of Mines and Steel Development (MMSD), Olamilekan Adegbite, has stated that the mines and steel sector offers the country an opportunity to diversify the economy from oil and gas. He noted that the ministry had moved from analogue record-keeping to digital with the support of Cadastre office (MCO) in the area of license […]
The World Bank has said it is set to disburse a total of $30bn to fund existing and new projects in Nigeria and other countries as part of a global response to combat the ongoing food security crisis. According to the bank, it is working with countries on a $12bn new projects fund for the […]
Starting from June 2022, the federal government will charge a five per cent tax for every airtime purchased by Nigerians. This is in addition to one kobo per second tax for phone calls as earlier reported. The five per cent tax on airtime was recently added and approved in the Finance Act 2021, which took […]
The Nigerian stock market extended its loss into this week with a -0.12 percent crash in equity capitalization on Monday. Consequently, the equity capitalization dropped by N36.9 billion from N28.56 trillion posted on Friday to N28.52 trillion today. The All-Share Index was down by 68.45 basis points to drop from 52,979.96 to 52,911.51. Investors traded […]
Godwin Emefiele, the Governor of the Central Bank of Nigeria has withdrawn a suit that sought to restrain the Independent National Electoral Commission (INEC) and the Attorney General of the Federation from preventing him from his presidential ambition. On Monday, his lawyer prayed the court to make an order striking out the suit and that […]
Professor Yemi Osinbajo, Nigeria’s Vice President and one of the presidential aspirants in the 2023 elections has said that in order for the country to attain great potential, the people must be united. The VP disclosed this in a statement seen by Nairametrics which was issued while visiting Zamfara and Katsina States as he proceeds […]
President of the Dangote Group, Aliko Dangote has urged state governments to prioritise the creation of an enabling environment to attract more private sector investment. The business mogul, who spoke on the sidelines of the recently-concluded Nasarawa economic summit in Lafia, said there is no state in Nigeria that is not blessed with resources, which […]
The Federal Executive Council (FEC) has announced the approval of N169.7 billion for the reconstruction of four roads under the tax credit scheme. This was disclosed by the Minister of Works and Housing, Babatunde Fashola after the FEC meeting chaired by President Muhammadu Buhari, at the Presidential Villa, Abuja, on Wednesday. The scheme seeks to […]
The Nigerian government has said it currently has no plan to ban Facebook in the country. This comes after the government asked Facebook and other social media platforms to stop allowing the pro-Biafra separatist group (IPOB) to operate on the social media platform. While receiving a team from Facebook in Abuja on Monday, Information Minister Lai Mohammed […]
The President of the African Development Bank (AfDB), Akinwumi Adesina, says he will not run for the post of president in the 2023 general elections. Mr Adesina, who said this in a statement on Tuesday, said he was focused on the mission of supporting the accelerated development and economic integration of Africa. According to him, “I have […]
President Muhammadu Buhari has extended his resignation notice to all public office holders in his administration who are seeking to contest in the 2023 elections. This was disclosed in a circular with reference number SGF/OP/ I/S.3/XII/173 and titled, ‘Ministers, heads of government agencies, ambassadors and other appointees with political ambitions to resign’. The new directive which […]
The Central Bank of Nigeria (CBN) has announced that in the first two months of 2022, it disbursed a total of N567.7bn to six critical sectors of the economy. It stated this in its most recent Monetary Policy Committee (MPCs) communique published on its website and obtained by Ripples Nigeria on Thursday. The sectors are […]
