Business

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


Renewable energy: firm wants tax wavers on imports

An Abuja-based renewable energy company, Blue Camel Energy, has called on the Nigerian government to remove import duties on equipment procured for solar installations in the country to reduce cost.
Chief Executive Officer of the company, Mr. Yusuf Suleiman, made the call in Abuja at an exhibiti [...]

Sun, 01 May 2016


Telcom sector contributes 8.8% to GDP in Q4

According to the National Bureau of Statistics, NBS, the telecommunications sector alone, contributed N1,645,82 billion or 8.8% to Nigeria’s Gross Domestic Product  in  the last quarter of 2015.
The latest figure is slightly higher than the 8.76% contribution recorded in the same [...]

Sun, 01 May 2016


Diversification: FG promise more investment in industrial sector

As part of efforts at diversifying the Nigerian economy, the federal government said it will make available more funds for industrialists, while strengthening its relationship with industrial economies like China.
Speaking at the recent the China-Africa Trade, Investment Summit held in Abuja, th [...]

Sun, 01 May 2016


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