IMF names confused budgets, two other factors frustrating sub-Saharan economies
The International Monetary Fund (IMF) has come up with a bang saying economies of the sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people in order to grow out of poverty…
More confusion trail power distribution as Discos demand tariff hike, Gencos cry for debts
The growing confusion in the nation’s power sector may be getting out hand when latest developments in the industry are pout on the table. Before now, the Distribution Companies (Discos) had been calling for tariff hike which was not allowed….
Making Naira convertible international trading currency’ll lift rating, value—Mailafia
Leading finance analyst and former Deputy Governor of Central Bank of Nigeria (CBN), Dr Obadiah Mailafia, has presented another tactical solution to the myriads of efforts to save Nigerian Naira. In an interview on Monday in Abuja, he advised the…
Recession bites harder as Nigeria’s first quarter GDP growth ebbs by -0.52%
The National Bureau of Statistics (NBS), Tuesday released the Gross Domestic Product (GDP) growth rate report for the first quarter, showing that the economy shrunk by -0.52 per cent in the first quarter of this year. Analysts say the implication…
Ethiopian Airlines reacts to NCAA threat, says refundable fees in view of deportation
Barely 24 hours after the Nigerian Civil Aviation Authority (NCAA) viewed the ‘refundable deportation fees’ charged by Ethiopian Airlines on Nigerians as exploitative and warned of sanctions, the airline has reacted saying, the added fees that ranged from $75 to…
CoDE, NPA seal deal on capacity building, manpower development
Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman has reaffirmed Management’s determination and commitment in assiduously collaborating with relevant agencies from all sectors of economy in order to harness effectively the desirables aimed at impacting most importantly on…
Nigeria’ll continue to import petrol in 2019 and Kachikwu’ll not resign, says analysts
Recent pronouncement by the Minister of state for Petroleum that he would resign come 2019 if Nigeria failed to stop importing refined petroleum products has raised reactions from industry experts. Whereas many of them argued that he may be swept…
Anxiety as OPEC mulls asking Nigeria to cut oil production
At a time the Nigerian economy is looking onto rising output and oil price to rescue the economy from recession, indication has emerged that the Organisation of Petroleum Exporting Countries (OPEC) may be convinced soon to ask Nigeria and Libya…
Group lists forex, limited receiving terminals as cause of rising cost of cooking gas
As the rising cost of cooking gas failed to fall, the President of Nigerian Liquefied Petroleum Gas Association (NLPGA), Dayo Adeshina, has given insights on the reasons behind the sustained high cost in Nigeria. In an interview, he listed among…
Ambode terminates N844b Fourth Mainland Bridge contract, considers foreign proposals
The Lagos State Government on Monday relied on what it described as observed delay in the commencement of work to terminate the N844billion Fourth Mainland Bridge contract. Commissioner for Waterfront and Infrastructure Development Adebowale Akinsanya, who made the announcement, explained…
