Economy Archives — Page 197 of 222

May 22, 2017 No Responses

‘Embracing animation technology will boost Nigeria’s entertainment industry’

The Minister of Information and Culture, Alhaji Lai Mohammed, has made a strong pitch for Nigeria to embrace the growing Animation technology in order to benefit from what has become a $300-billion industry and which represents 25% of the global audiovisual market. Addressing the opening ceremony...

May 22, 2017 No Responses

‘Amendment of NLNG Act will discourage foreign direct investment’

The amendment of the Nigeria LNG Limited (NLNG) Act (Fiscal, Guarantees, Assurances, and Incentives) by the House of Representatives on May 9, 2017 will subject the company to more than just the 3% Niger Delta Development Commission (NDDC) levy due...

May 18, 2017 No Responses

WFE responds to EC’s consultation on operation of european supervisory authorities

The World Federation of Exchanges (“WFE”) has responded to the European Commission’s Public Consultation on the Operations of the European Supervisory Authorities (ESAs). While the consultation has an EU focus, there are some items that are relevant t...

May 18, 2017 No Responses

Forex: CBN releases list of 36 items

The Central Bank of Nigeria (CBN) on Thursday released list of 36 items valid for access to foreign exchange in the foreign exchange market. In a circular to all banks and the general public, CBN explained that the list of...

May 17, 2017 No Responses

Africa needs new financing models to bridge development gaps, says Osinbajo

Acting President, Yemi Osinbajo, has advocated a new paradigm in financing infrastructure projects in Africa in order to close the huge infrastructure gap in the continent. He stated this on Tuesday at a forum to mark Africa Finance Corporation’s...

May 17, 2017 No Responses

Nine ministers present mid-term report as Audu Ogbeh blames high cost of local rice on interest rate

Not less than nine Ministers attended a special edition of the Federal Government’s town hall meeting in Abuja on Tuesday. They are Minister of Agriculture and Rural Development, Audu Ogbeh; Minister of Power, Works and Housing, Babatunde Fashola; Minist...

May 17, 2017 No Responses

Edo to boost forex with rubber

Edo State Governor, Mr. Godwin Obaseki has declared his administration’s readiness to reposition the state at the vanguard of rubber production and processing in order to increase foreign exchange earnings. This was as he received the management of the Rub...

May 12, 2017 No Responses

NASS earmarks N23.7B for personnel cost in 2017

The National Assembly has earmarks N125billion for its 2017 budget, up from N115billion in 2016. Under the arrangement, total personnel cost is N23,789,787,880 while total overhead cost is N85,878,619,888; total capital cost will gulp N14,940,196,063. A...

May 12, 2017 No Responses

National Assembly passes N7.441tri 2017 Budget

The 2017 budget of N7.441trillion was on Thursday passed by the two chambers of the National Assembly. President Muhammadu Buhari had on December 14, 2016 presented a N7.298 trillion estimate before the joint session of the National Assembly. In the...

May 12, 2017 No Responses

NNPC Chief Executives sign performance bond with GMD

The journey to the transformation of the Nigerian National Petroleum Corporation (NNPC) into a commercially focused and profitable business organization has been taken a notch higher with the signing of a performance bond by the Chief Operating Officers (COO) ...

May 11, 2017 No Responses

Nigeria intensifies partnership with Brazil on sustainable growth in Agriculture, targets 960,000 tractors in eight years

Inline with ongoing measures to revamp Agriculture across the country, the Federal Government through the Minister of Agriculture and Rural Development, Chief Audu Ogbeh has signed the Protocol of Intention for Nigeria to access Agricultural mechanization ...

May 9, 2017 No Responses

CBN injects $81.2m for BTA, SMEs, others

As a follow up to last Friday’s injection of $389 million into the retail segment of the Foreign Exchange Market (FOREX), the Central Bank of Nigeria (CBN) on Monday, intervened with the sum of $81.2 million in the invisibles and...

May 9, 2017 No Responses

At economic forum, Elumelu implores African leaders on jobs, power

Chairman of Heirs Holdings and Founder of Tony Elumelu Foundation, Mr. Tony O. Elumelu, CON, has challenged African leaders and policymakers to give priority to jobs and energy. Speaking at the opening session of the 2017 World Economic Forum on...

May 3, 2017 No Responses

CBN sanctions First Bank, GTB, others over alleged forex infractions

The Central Bank of Nigeria (CBN) on Tuesday barred 15 commercial banks from dealing in foreign exchange through the recently created Small and Medium Enterprises (SMEs) wholesale forex window. According to the CBN, the decision which is with immediate effec...