The nation's gross domestic product (GDP) grew by 1.93% in 2018, data made available by the National Bureau of Statistics has shown.According to the report, which was released by the bureau on Tuesday, the fourth quarter GDP grew by 2.38% as against the 1.81% recorded in the third quarter.The figure is 1.6 percentage points less than the 3.0% projected by the [...]
Ibikunle Amosun, governor of Ogun state, says Kemi Adeosun, former minister of finance, played a significant role in the execution of the Lagos-Ibadan railway, which was tested on Friday.Speaking on the train, during the test from Iju, Lagos, to the Ogun state capital, Abeokuta, Amosun said he knows for a fact that Adeosun and her ministry played an active part [...]
Olatokunbo Fagbemi, managing director of Nigerian Aviation Handling Company (NAHCO) Plc, has assured that the company will sustain its growth as it seeks to improve operations to deliver greater values to customers and shareholders.Speaking when the newly appointed board visited the Nigerian Stock Exchange (NSE), Fagbemi said the company will reenergize its system."My top priority is very simple, it is [...]
It has been a positive trading week for the Nigerian stock market with the All-Share Index pushing higher despite US-China trade talks pessimism denting global risk sentiment.Local equity markets are seen pushing higher next week if Nigeria’s GDP growth for Q4 exceeds market expectations.Away from macro fundamentals, the presidential elections will be in sharp focus. Whatever the election outcome, [...]
The federal government on Friday signed investment agreements with three development finance institutions -- Afreximbank, Bank of Industry and the Nigeria Sovereign Investment Authority (NSIA) -- for the creation of special economic zones in the country. With the signing, President Muhammadu Buhari, who presided over the ceremony at the Council Chambers of the Aso Rock Villa, declared the investment company in [...]
You can now travel for free from Iju, Lagos to Abeokuta for free for about a month, using the recently-completed trains by the federal government.This was disclosed by Fidet Okhiria, managing director of the Nigerian Railway Corporation, who spoke with Tolu Ogunlesi, special assistant to the president on digital communications, during the test drive of the #LagosIbadanRail Project.He said free test-rides [...]
The Federal Inland Revenue Service (FIRS) says it will go after 40, 000 millionaire who have been defaulting on taxes in 2019.According to a statement released in Abuja on Thursday, Babatunde Fowler, FIRS executive chairman, made this known while receiving Mohammed Adamu, the acting inspector general of police.Fowler said the FIRS recovered N23 billion from 45,000 people who had more [...]
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The volume of shares traded on the Nigerian Stock Exchange (NSE) in January dropped by 42.38%, which analysts have attributed to uncertainties surrounding the forthcoming elections.Specifically, 6.24 billion shares worth N59.28 billion were exchanged in 80,888 deals by investors in January.NAN reports that the turnover and volume during the period dropped by 42.38% and 16.16%, respectively when compared with figures [...]
US President Donald Trump has nominated David Malpass, a critic of multilateral institutions like the World Bank, to replace Jim Yong Kim as the World Bank president.Malpass is a Trump loyalist, who served as senior economic adviser to the president during his campaign in 2016, and currently the undersecretary for international affairs at the Treasury Department of the United States.“I am certain [...]
