Friday, November 16, 2018

Tag "ERGP"

    Udoma: In four years, all 774 LGAs will have internet connectivity

Udoma: In four years, all 774 LGAs will have internet connectivity

Udo Udoma, minister for budget and national planning, says in four years, every of the 774 local government areas in Nigeria will have internet connectivity. The minister disclosed this while speaking at the 42nd Annual Conference of Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) in Lagos on Thursday.He said the government is working to increase broadband penetration across all geopolitical zones of [...]

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    Nigeria signs $328m ICT agreement with China

Nigeria signs $328m ICT agreement with China

Nigeria has signed a $328 million agreement with China on the National and Communication Technology Infrastructure Backbone (NICTIB) Phase 11.The NICTIB 11 project is aimed at developing information and communications technology in Nigeria.Garba Shehu, senior special assistant to President Muhammadu Buhari on media and publicity, disclosed this in a statement on Saturday.NAN reports that the agreement was signed when Buhari arrived [...]

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    World Bank pledges support for Nigeria’s economic growth, says it’s a top priority

World Bank pledges support for Nigeria’s economic growth, says it’s a top priority

The World Bank says it is willing to provide technical support to Nigeria in critical areas to facilitate the country’s economic growth and development.A statement from the ministry of budget and national planning quoted Hafez Ghanem, World Bank’s vice-president for Africa as saying Nigeria is “top priority” during a discussion with Udo Udoma, the minister, in Abuja on Thursday.Ghanem said [...]

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    El-Rufai tackles Bill Gates, says Buhari’s plan reflects needs of Nigerians

El-Rufai tackles Bill Gates, says Buhari’s plan reflects needs of Nigerians

Nasir el-Rufai, governor of Kaduna state, says it is incorrect to say the execution process of the economic and recovery growth plan (ERGP) does not truly reflect the needs of Nigerians.He said this in response to a statement made by Bill Gates at the expanded national economic council presided over by Vice-President Yemi Osinbajo."The Nigerian government’s economic recovery and growth [...]

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    It’s a ‘great time’ to be an American company in Nigeria

It’s a ‘great time’ to be an American company in Nigeria

Darrell Mcgraw, a board member of the American Business Council (ABC) and senior partner at PriceWaterhouse Coopers (PWC), says the environment in Nigeria is good for American businesses.Mcgraw said this at a press conference in Ikoyi, Lagos, on Tuesday.“It’s a great time to be an American company in Nigeria,” he said.“There’s clearly an optimism… of going into 2018 with our heads held [...]

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    Buhari’s economic adviser cautious on exit from recession

Buhari’s economic adviser cautious on exit from recession

Adeyemi Dipeolu, special adviser to the president on economic matters, says despite the exit from recession, the nation's economic growth "remains fragile and vulnerable to policy slippages".The economy exited from its worst recession in 29 years on Tuesday.Dipeolu attributed the exit to growth in the nation's oil and non-oil sector, saying the growth in the oil sector rose by 1.64% as compared [...]

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    Inflation rate drops for the third consecutive month

Inflation rate drops for the third consecutive month

After 15 months on the rise, the consumer price index (CPI) which measures inflation rate in the Nigerian economy has been on the decline, dropping for the third consecutive month.According to the National Bureau of Statistics (NBS), inflation rate dropped to 17.24 percent (year-on-year) in April, declining by 0.02 percent from the figures recorded in March, 2017."This is the third [...]

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    Buhari must develop Nigeria even if it means stealing, says World Bank consultant

Buhari must develop Nigeria even if it means stealing, says World Bank consultant

Olu Ajakaiye, president of Nigeria Economic Society and a World Bank consultant, says the Muhammadu Buhari-led government and subsequent Nigerian governments must develop the country, even if it means stealing from other countries.Ajakaiye, who was the keynote speaker at the 2017 edition of The Bullion Lecture organised by the Centre for Financial Journalism, said many first world nations have stolen [...]

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    Buhari to inaugurate economic recovery plan on Wednesday

Buhari to inaugurate economic recovery plan on Wednesday

President Muhammadu Buhari will inaugurate the Economic Recovery and Growth Plan (ERGP) 2017-2020 on Wednesday.Femi Adesina, presidential spokesman, disclosed this in a statement issued on Tuesday.Adesina said the formal inauguration of the plan will take place in the council chambers of the presidential villa, Abuja, at 11 am.According to him, the inauguration of the plan was in furtherance of the [...]

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    Buhari’s recovery plan will increase foreign investments, says FXTM analyst

Buhari’s recovery plan will increase foreign investments, says FXTM analyst

Lukman Otunuga, research analyst at FXTM, says the Economic Growth and Recovery Plan (ERGP) unveiled by Muhammadu Buhari's government will increase foreign investments in Nigeria.Otunuga said the plan is ambitious and could possibly achieve its aim of seven percent GDP growth by 2020."A feeling of positivity was felt across the Nigerian economy this week, following the highly optimistic economic growth [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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