Economy Archives — Page 98 of 101

August 2, 2016 No Responses

Nigeria seeks $3.5Billion loan from World Bank, AfDB

The Federal Government has commenced negotiation for concessionary loans of $3.5 Billion from the World Bank and African Development Bank (AfDB). According to the Minister of Finance, Mrs Kemi Adeosun, the fund will support Government effort to finance the 2016...

August 1, 2016 No Responses

TUC explains majority stake in Unity Bank

By Moses Ebosele – The Trade Union Congress of Nigeria (TUC) has successfully acquired majority stake in Uity Bank Plc. Under the arrangement, the Congress will within the next three years invest a total of N80 billion in the...

July 29, 2016 No Responses

Dangote Cement records 15 per cent drop in profit

By Moses Ebosele – Come August 3, 2016, the management of Dangote Cement Plc will brief the Nigeria Stock Exchange (NSE) and other stakeholders on the financial state of the company especially the 15 per cent drop in its profit...

July 28, 2016 No Responses

Workers task FG on N5.3 trillion pension funds

By Moses Ebosele – Rising from its National Delegate Conference (NDC) in Abeokuta, Ogun State, Association of Senior Civil Servants of Nigeria (ASCSN) has appealed to the Federal Government to offer ‘adequate protection’ to the N5.3 Trillion work...

July 28, 2016 No Responses

UK Envoy canvasses support for Nigerian capital market

By Moses Ebosele Despite various economic challenges in Africa, the Nigerian capital market has great opportunities, United Kingdom Trade & Investment (UKTI) Envoy, John Howell has said. According to Howell, Nigeria’s capital market is viabrant, not...

July 26, 2016 No Responses

FG explains $42.5 per barrel benchmark for 2017

The Federal Government has proposed $42.5 per barrel benchmark for the year 2017. Presenting the 2017-2019 Meduim Term Expenditure Framework (MTEF) to civil society group in Abuja on Monday, Minister of Budget and National Planning, Udoma Udoma, explai...

July 25, 2016 No Responses

Lagos targets N30b monthly revenue

(NAN) The Lagos State Government on Sunday said it will reduce dependence on federal allocation by increasing its Internally Generated Revenue (IGR) to a monthly target of N30 billion in 2017. It also said that it would increase the IGR...

July 24, 2016 No Responses

LCCI partners German counterpart on trade, investment

By Moses Ebosele – The Lagos Chamber of Commerce and Industry (LCCI) has signed a Memorandum of Understanding (MOU) with Delegation of German Industry and Commerce in Nigeria (DGIC) as part of measures to boost trade, investment and knowledge transfer....

July 22, 2016 No Responses

Nigeria in recession, minister admits

The Minister of Finance, Mrs Kemi Adeosun, has admitted that Nigeria’s economy is going through a recession. Speaking during plenary session at the Senate, the minister explained that the Federal Government is aware of the sufferings the recession may have.....

July 21, 2016 No Responses

Lafarge records N28billion loss in Q2

By Moses Ebosele – For the second quarter ended June 2016, Lafarge Africa Plc has recorded a pre-tax loss of N28billion. In its report to the Nigerian Stock Exchange (NSE) yesterday, the company attributed the loss to dwindling foreign...

July 21, 2016 No Responses

NSE partners Dangote Cement on price information scheme

By Moses Ebosele – The Nigerian Stock Exchange (NSE) has entered into a contract to provide Dangote Cement Plc its Issuers Share Price Information service. The Issuers Share Price Information is an offering that enables companies listed on the...

July 20, 2016 No Responses

Expert cautions against mass retrenchment

By Moses Ebosele – AN economist, Matthew R. Otoide has challenged the Federal Government to ‘do everything within its power’ to stop ongoing retrenchment across the country. In a chat with City BusinessNews, Otoide explained that the developme...

July 19, 2016 No Responses

Anxiety as inflation hits 16.5 per cent

By Moses Ebosele – Economic challenges confronting Nigeria assumes more disturbing dimensions as the Consumer Price Index (CPI) increased to its highest point of 16.5 per cent since 2005. The report released by the National Bureau of Statistics (NBS...

July 19, 2016 No Responses

Presidency pledges full complince with fiscal responsibility act

The Federal Government has reiterated its resolve to fully comply with the provisions of the Fiscal Responsibility Act and other extant laws as they relate to the submission of budget proposals to the National Assembly. Presidential spokesman, Garba Shehu.....

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Category: Economy