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Tag: nigerian economy

CBN: We Have Settled All Valid Forex Backlogs

Central Bank of Nigeria (CBN)
The Central Bank of Nigeria (CBN), yesterday, announced that all valid Foreign Exchange (FX) backlogs owed various sectors of the economy had been settled. The FX settlement fulfilled a keyRead More

NBS: ICT Sector Contributed 18.44% To Nigeria’s GDP In Q2, 2022

National Bureau of Statistics
The National Bureau of Statistics (NBS) yesterday said Information and Communication Technology (ICT) sector had contributed 18.44 per cent to ‘Nigeria’s Gross Domestic Product Report’ for Q2 2022. This isRead More

Oil Production Challenges, Inflation Retard Nigeria’s Economy In Q2 2022

Nigeria Oil Refinery
GDP growth slows to 3.54%, non-oil sector contributes 93.67% Nigeria Gross Domestic Product (GDP) grew by 3.54 per cent (year-on-year) in real terms in the second quarter of 2022, theRead More

Komolafe: Nigeria Lost $1bn Revenue To Crude Oil Theft In Q1

Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe
World’s richest billionaires lose $1.4tn in worst half-year ever Nigeria lost $1 billion in revenue during the first quarter of this year due to crude oil theft, the Chief ExecutiveRead More

Power Minister: Nigeria’s Power Generation Cannot Support Economic Growth

Minister of Power, Mr. Abubakar Aliyu
The Minister of Power, Mr. Abubakar Aliyu, yesterday admitted that Nigeria’s current electricity generation was incapable of powering the economy of over 200 million Nigerians. Aliyu, who spoke during theRead More

Kyari: Nigeria’s Economy No Longer Dependent On Oil Revenues

NNPC Group Managing Director, Mallam Mele Kyari
Says country not ready for electric vehicles Barkindo insists oil to remain relevant in foreseeable future The Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Mallam MeleRead More

CBN: Agriculture Remains Backbone Of Nigeria’s Economy

CBN Godwin Emefiele
Hails strides in maize, cassava production Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, says agriculture remains a strong pillar and saving grace for the Nigerian economy. EmefieleRead More

Massive Oil Theft, High Pipeline Repairs Cost, Bleeding Nigeria’s Economy

Oil pipeline
At 200,000bpd, over $29bn lost to theft in six years Over N700bn expended on repairs, maintenance A combination of huge oil pipeline repairs cost and a high-level crude oil theftRead More

Buhari Unveils BUA Cement’s Plant In Sokoto, Calls For More Private Sector Investment

Buhari Unveils BUA Cement’s Plant In Sokoto, Calls For More Private Sector Investment
Emefiele appeals to manufacturers to address high cost of cement, building materials Rabiu: BUA to ramp up cement production to 17 million metric tonnes next year President Muhammadu Buhari yesterdayRead More

Edo Explores Potentials In Water Transport To Boost Economy

Edo State
The Edo State Government is sustaining programmes and reforms to harness the huge economic potentials in its water transportation ecosystem, to boost economic growth and development, in line with theRead More