A Federal High Court in Lagos on Friday convicted two men, Uche Johnson and Kingsley Meteke, for producing and distributing substandard engine oil and sentenced them to two-years imprisonment each. The Standards Organisation of Nigeria (SON) brought them before the court on a four count charge of production, possession, dealing in and distribution of substandard engine […]
Against the backdrop of recently set targets in the revised 2020 budget and the approved Federal Government’s National Economic Sustainability Plan, NESP, research reports by some investment houses have indicated that macroeconomic outcomes would be far off targets by year end 2020 into 2021.
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Credit to the economy rose by 6.3 percent to N38 trillion in the first half of the year (H1’2020) driven by 9.85 percent upsurge in credit to the federal government.
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Nigeria's quest to build a pool of wealth as savings for future generation and enhanced economic development has received a major boost from the Nigerian Sovereign Investment Authority (NSIA) which grew its total assets by five percent to N650 billion while generating N36 billion as income in the financial year ended December 31, 2019.
The post NSIA: Increasing
BRITAIN’s economy has been contracted by a record of 20.4 percent in the second quarter with the country in lockdown over the coronavirus pandemic, It officially entered recession in the second quarter after gross domestic product, GDP, contracted by 2.2 per cent in the first three months of the year. “It is clear that the […]
The post UK’s economy enters recession, first time
The federal government has been advised to urgently prevail on the authority of Nigerian Electricity Regulation Commission, NERC to reverse its newly approved guidelines on filing applications for competition transition charge by electricity distribution and trading licensees. This was contained in a letter of protest signed by the National Coordinator of the Transparency Awareness Group, […]
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Key stakeholders in the Nigerian economy have demanded urgent realization of the Ajaokuta-Kaduna-Kano (AKK) pipeline project as potent strategy for rapid industrial development and economic diversification agenda. Panellists drawn from the petroleum industry, academia, organized private sector and regulatory agencies who participated in a business webinar hosted by Valuechain Magazine urged the federal government to […]
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Olusegun Bamgbose, Esq., National Coordinator, Concerned Advocates for Good Governance, CAGG, has warned that Nigeria’s economy may crash or be grounded by 2026. Bambgose was speaking about the sovereignty clause inserted in the agreement to secure $500m loan from China. The loan agreement between Nigeria and China has indeed generated a lot of tensions and […]
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