Business

FG to disburse N95bn to 400 businesses in June

There were indications last week that the federal government has reached advanced stage for the disbursement N95billion to 400 businesses, under its Government Enterprise and Empowerment Programme, GEEP, intervention programme.
According to the Bank of Industry, BoI, the fund which is part of th [...]

Sat, 11 June 2016


Informal sector contributes 92% to agric growth

Despite the calls for the diversification of the Nigerian economy to more reliable sectors such as agriculture, growth in the sector has been largely informal at an estimated 91.85percent share.
Data on formal and informal sector split of the nation’s Gross Domestic Product for 2015 shows [...]

Sat, 11 June 2016


Abuja makes list of highest telcom subscribers

Approximately 6.03million of the total number of active telecommunication subscribers recorded in the first quarter of 2016 were resident in the Federal Capital territory at the time.
The figure which represent 4.05percent of the total number of 148.74million active subscribers in the country be [...]

Mon, 06 June 2016


Govts’ allocation drops as oil prices tumbles

Allocations to the three tiers of government again suffered a major hit in April 2016, with about N18.2billion reduction from the amount shared in March, following the drop in revenues from crude oil.
Government’s allocations from the federation account have been on the decline in recent t [...]

Mon, 06 June 2016


Salaries: FG to save more through IPPIS

The federal government said it is seeking to improve on the N220billion saved from leakages in the civil servants through the Integrated Personnel Payroll Information System, IPPIS, introduced almost a decade ago.
A statement from the Office of the Accountant-General of the Federation, disclose [...]

Mon, 06 June 2016


CBN bows to pressure, adopts flexible exchange rate policy

As expected, issues on the rising inflation and the foreign exchange market dominated discussions at the 250th meeting of the Monetary Policy Committee, MPC, Meeting of the Central Bank of Nigeria as the committee finally adopts flexible exchange rate policy.
The federal government has been unde [...]

Mon, 06 June 2016


States get Dec. deadline to implement TSA

The 36 states of the federation have until have December this year, to fully implement a centralized Treasury Single Account, TSA, in their respective states, so as to allow for proper monitoring of their revenues and expenditure.
The directive, which is contained in the Draft Fiscal Sustainabil [...]

Mon, 06 June 2016


Nigeria to get $11million investment in greenhouse project

The federal government has said it will welcome the proposed investment of about US$11Million Green House Vegetable project into the agricultural sector by Wells San-Carlos Green House Farms Limited.
At a meeting between the Ministry of Agriculture and representatives of the Mexican firm, Wells [...]

Sun, 01 May 2016


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