BUSINESS
Enugu Loses N10bn Weekly Over Sit-At-Home, Says Gov. Mbah
The Governor of Enugu State, Peter Mbah, says the sit-at-home enforced by a faction of the Indigenous People of Biafra in the South-East is causing the state to lose over N10 billion every Monday. The governor made this disclosure on Thursday in Enugu at a meeting with the Presidents-General (PGs) of all the autonomous communities in the state. He said the...
World Bank President Visits Nigeria, To Focus On Job Creation, Energy
The President of World Bank, Ajay Banga is set to commence a three-day visit to Nigeria which will focus on job generating avenues for teeming Nigerian young population as well as bridging the country's energy gap, the international lender said in a statement on Tuesday. The visit on Thursday will see the World Bank chief meet with the President of...
Hunger To Vanish As NEC Approves N5bn Subsidy Palliative With 5 Trucks Of Rice
The National Economic Council, NEC, on Thursday said that the Federal Government has approved N5 billion grant to be given to each of the 36 states of the federation for the procurement of grains as well as five trucks of rice to each state as palliatives to cushion the effect of fuel subsidy removal. The NEC also approved the distribution...
Illegal Pipeline Connection In Abia Costs Nigeria $7.2m Monthly, FG Says
A federal government delegation to the oil-producing areas of Nigeria has discovered numerous illegal pipeline connections robbing Nigeria of millions of dollars in revenue. The team noted that a particular pipeline in Owaza in Abia state has been damaged by oil thieves, causing a revenue loss of $7.2 million dollars per month. The delegation, that visited the Niger Delta region at...
We Inherited A Bad Economy, FG Says As Tinubu Insists On 50m Jobs
The Federal Government, on Monday, said it inherited a bad economy with an unacceptable high rate of unemployment. The government also assured Nigerians that the administration of President Bola Tinubu will not rely on borrowing and that he had pledged to be transparent, honest and accountable to the people. Meanwhile, the President has promised to create about 50 million jobs through...
It Makes No Sense, Former Statistician General Fault NBS Data That Says Unemployment Has Reduced
A former Statistician-General of Federation/Chief Executive Officer of the National Bureau of Statistics (NBS), Dr. Yemi Kale, has criticised the methodology used in calculating Nigeria’s unemployment rate from 20 hours to one hour per week. This comes barely a week after the NBS released a new data that put employment at 4.1 per cent from the 33.1% it was in...
Naira Will Become Stronger Again —Adeboye
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, says the naira will regain its strength among the league of currencies. He stated this on Saturday morning during the Church’s annual Holy Ghost Congress held at the RCCG International Headquarters along the Lagos-Ibadan Expressway. GLONAT reports that the 78-year-old cleric prayed to God to intervene in Nigeria’s...
UAE To Support Africa’s Clean Energy Projects With $4.5 Billion
The UAE has pledged $4.5 billion in a financial initiative to fast-track clean-energy projects in Africa. This is according to COP28 President-Designate Sultan Al Jaber, an announcement coming ahead of United Nations climate summit to be hosted by Dubai. “The initiative will prioritise investments in countries across Africa with clear transition strategies, enhanced regulatory frameworks and a master plan for developing...
Nigeria Ranked 31st Most Productive Economy In 2022, Says Report
Nigeria has been ranked 31 in the list of most productive economies in 2022 based on Gross Domestic Product (GDP) according to a report. In the ranking, the United States of America came first, followed by China and Japan in the third position. Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are...
Abia Ready To Revive Tourism Sector, Gov. Otti Assures
Gov. Alex Otti of Abia has expressed readiness to reshape the hospitality industry and tourism sector through creative strategies to boost the state’s economy. Otti said this on Wednesday during a meeting with members of Nigeria Hotel Association and Hotel Proprietors Association in Umuahia. The governor, who was represented by his Chief of Staff, Dr Caleb Ajagba, said that he was...
