Nigeria’s total public debt stock hits N46.25trn in Q4 2022 – NBS
Nigeria’s total public debt stock consisting of domestic and external debt stocks of the Federal Government of Nigeria, the 36 State Governments and the Federal Capital Territory hit N46.25 trillion or 103.11 billion dollars inn Q4 2022. The National Bureau of Statistics (NBS) made this known on Friday in its Nigerian Domestic and Foreign Debt […]
FAAC distributes N723bn to FG, States, LGs
he Federation Account Allocation Committee (FAAC) has distributed the sum of N722.677 billion to the Federal, States and Local Governments from Federation revenue for the month of February.
Inflation pushes pension funds’ investment in FG bonds to N9.6trn
By Peter Egwuatu The sustained rise in inflation and interest rate has triggered significant rise in pension funds investments in Federal Government securities to N9.6 trillion in 2022, about 9.9 percent higher than N8.7 trillion recorded in 2021. Analysts said the rise will continue in 2023 given the continued rise in both inflation and interest rate. […]
FAAC shares N723 b to FG, States, LGs
The Federation Account Allocation Committee (FAAC) has shared the sum of N722.677 billion to the Federal Government, States and Local Government Councils.
How new regulations’ll support petroleum industry growth — NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, yesterday, unveiled six new regulations for the oil and gas industry, saying they will support sustainable growth for the mid and down streams sectors.
President Buhari celebrates Tony Elumelu at 60
President Muhammadu Buhari has congratulated Chairman, UBA Plc, Tony Elumelu on the occasion of his 60th birthday today, saying the distinguished banker, economist, and philanthropist has brought honour and pride to Nigeria and Africa.
CBN admits weak links in cash withdrawals, raises policy rate
Amidst the continued scarcity of cash under the Naira redesign policy the Central Bank of Nigeria, CBN, has admitted failures in the online payment channels that have frustrated banks’ customers in the past two months.
Stride ERP to empower 2.5m SMEs across Africa
LAGOS—STRIDE ERP, a leading provider of Enterprise Resource Planning software solutions, has announced plans to partner with pacemakers and industry leaders across Africa, to launch the SME Accelerator Project, SME-AP. The initiative is designed to revolutionise the pace of digital business transformation among Small and Medium-sized enterprises, SMEs, on the continent. The African continent is […]
GAC boss seeks policy to boost purchase of new cars by Nigerians
By Obas Esiedesa, Abuja The Chairman of GAC Motors, Diana Chen, has urged the Federal Government to develop policies that would encourage Nigerians to purchase brand new vehicles rather than the current reliance on imported fairly used ones. Chen, who stated this in Abuja yesterday at the opening of its G-Style Showroom and unveiling of its […]
Rainoil calls for optimal utilisation of gas to achieve energy security, equity
The Executive Director, Rainoil Limited, Mr. Emmanuel Omuojine, has said the optimal utilisation of gas is the guarantee to acvhieving energy security and equity in Africa.
Nigeria’s economy maintains nine-quarter consecutive growth — CBN
The Central Bank of Nigeria (CBN), says the Nigerian economy has maintained a positive growth trajectory for nine consecutive quarters, since exiting the recession in 2020.
