Friday, September 21, 2018

Tag "Economy"

    Tourism: Nigeria’s new economic frontier

Tourism: Nigeria’s new economic frontier

BY FIDELIS NWANGWUAs we gradually move towards the close of the great Age of Oil, with the newer and brisk strides in the development of alternative energies, this bodes much disconcerting fortunes for mono-cultural economies like Nigeria, whose lifelines have hinged on oil receipts in the past several decades. Theseproceeds have, traditionally, not only accounted for over 80 percent of [...]

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    Gates and the Nigerian ostriches

Gates and the Nigerian ostriches

In the last decade, billionaire Bill Gates is reputed to have funneled estimated $1.6b (Over N500bn) of his own hard-earned fortune into humanitarian causes in Nigeria, especially immunisation for kids against polio with a view to helping to end the nation’s shame as the world’s capital of the horrific yet preventable disease.Without being prompted, the Bill & Melinda Gates [...]

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    NCC to fund world-class infrastructure project in Edo

NCC to fund world-class infrastructure project in Edo

The Nigerian Communications Commission (NCC) has promised to establish a world-class ICT infrastructure across Edo state.Sunday Dare, NCC’s executive commissioner for stakeholder management, made this promise when the Edo state governor, Godwin Obaseki, visited him at the NCC headquarters in Abuja.Dare said the commission was impressed with the "forward-looking policies" of the governor and assured him of the NCC’s readiness to [...]

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    Fowler: Nigeria’s tax revenue recorded N700bn increase in 2017

Fowler: Nigeria’s tax revenue recorded N700bn increase in 2017

Tunde Fowler says the Federal Inland Revenue Service (FIRS) recorded four million new taxpayers, resulting in N700 billion increase in revenue in 2017The FIRS chairman said this at the 13th general assembly of the West African Tax Administration Forum (WATAF).The chairman said in the past two years, the service has scaled up its use of ICT to facilitate taxpayers’ compliance.He [...]

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    AfDB says Africa’s growing population is a time bomb

AfDB says Africa’s growing population is a time bomb

The African Development Bank (AfDB ) says unless the government of African countries match the continent’s growing population and youth unemployment, the continent could trigger a time bomb.Akinwunmi Adesina, president of the bank, said this a recent meeting which had government officials from east and north African countries in attendance.He described the continent’s growing young population as a potential growth engine [...]

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    Osibanjo: Why Buhari and I didn’t visit Dapchi

Osibanjo: Why Buhari and I didn’t visit Dapchi

Vice-President Yemi Osinbajo has spoken on the reason he and President Muhammadu Buhari have not visited Dapchi in Yobe state where 110 students were abducted two weeks ago.Both men have been criticised for not paying condolence visits to places where abductions and avoidable deaths were recorded in recent times.Among these states are Benue, Zamfara and Taraba.Speaking with journalists over the [...]

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    Magu is going nowhere, says Osinbajo

Magu is going nowhere, says Osinbajo

Vice-President Yemi Osinbajo says Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), is “going nowhere”.The senate has demanded the replacement of the anti-graft czar who failed its screening on two separate occasions but the presidency has allowed Magu to carry on with his job.To protest the refusal to sack Magu, the upper legislative chamber suspended the screening [...]

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    Ghana vows to account for ‘every single bar of gold’ leaving the country

Ghana vows to account for ‘every single bar of gold’ leaving the country

In a bid to bring accountability and transparency to economic management of resources, the Ghanaian government has vowed to account for every single bar of gold leaving the country.It also promised to end smuggling by tightening controls, and ensure that 50% of total gold output is locally refined in the next five years.Mahamudu Bawumia, Ghana’s vice-president, told a regional meeting [...]

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    DMO: American investors are largest buyers of Nigeria’s Eurobond

DMO: American investors are largest buyers of Nigeria’s Eurobond

The Debt Management Office (DMO) says American investors are the largest buyers of Nigeria’s $2.5bn Eurobond.New data released by DMO indicated that for Eurobond notes with a 12-year tenor, American investors purchased 55%, while British investors bought 32%; European investors took 11% of the Eurobond.For Eurobond with 20-year tenor, American investors bought 59% while British and European investors purchased a combined [...]

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    Nigeria: A nation where the economy grows stronger while the citizens groan

Nigeria: A nation where the economy grows stronger while the citizens groan

President Buhari has made history as the first C-in-C in power when the precious citizens of Nigeria suffered for months to access PMS. The ongoing fuel scarcity started in the Month of November 2017 and till this moment; our people are still suffering to buy FUEL for 200naira per litre in both Lagos and Ogun States. I am told it is [...]

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    Nigeria’s economic growth plan and the naira

Nigeria’s economic growth plan and the naira

BY GODWIN EWULUThe year 2017 started on a very stormy note for the Nigerian economy; Inflation was at record high, unemployment was above a 10-year-high, food prices were spiraling, and of course, the country was in its worst recession in 29 years.In the midst of all these President Muhammadu Buhari promised Nigerians that 2017 was going to be a time [...]

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    Ezekwesili: We must discuss our failure as a country, even if painful

Ezekwesili: We must discuss our failure as a country, even if painful

Oby Ezekwesili, former minister of education, says the “diplomacy” with which Nigeria's failure is being treated must stop.She said the nation must discuss its failure with a “fair sense of urgency".Speaking at a plenary session at the Nigeria Economic Summit (NES), which ended in Abuja on Thursday, the former World Bank vice president for Africa said Nigeria's failure is too [...]

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    Interest reduction, subsidy… Tinubu lists 7-point agenda for the economy

Interest reduction, subsidy… Tinubu lists 7-point agenda for the economy

Bola Tinubu, national leader of the All Progressives Congress (APC), has proposed a seven-point agenda for the revival of the country’s troubled economy.Tinubu, who made the proposal while delivering a lecture in Lagos, said the decline in oil prices had revealed the sham of the country’s extant economic model.He listed a national industrial policy, infrastructure plan, tax credits and subsidies, [...]

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    Buhari meets Adeosun, Emefiele, says he’s happy with state of the economy

Buhari meets Adeosun, Emefiele, says he’s happy with state of the economy

President Muhammadu Buhari is delighted over the improving state of the economy, Femi Adesina, his spokesman, has said.In a statement on Monday, Adesina said Buhari spent about two hours receiving briefing from Udoma Udo Udoma, minister of national budget and planning; Kemi Adeosun, minister of finance, and Godwin Emefiele, governor of Central Bank of Nigeria (CBN).He said Buhari reminded the [...]

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    We must punish offenders, says Osinbajo

We must punish offenders, says Osinbajo

Vice-President Yemi Osinbajo says those who violated the laws of the land must be brought to book.In an interview with Zain Asher, CNN international correspondent, Osinbajo said the current administration has laid "a very solid foundation" in the rebuilding of the economy.Asher anchored a session at the annual general conference of the Nigerian Bar Association (NBA) in Lagos.The vice-president said [...]

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    A robust economy under Jonathan

A robust economy under Jonathan

BY OLA SUNDAY The socio-political situation in Nigeria has called for an overview to offer an insight into the true state of the nation. Regardless of what politicians and public office holders are peddling in the media about the economy, the fact remains that it is the citizenry who are better positioned to evaluate governance based on their own economic realities. [...]

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Exchange Rates

September 21, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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