• Nigeria’s 36 states share N143.6bn in September

    Nigeria’s 36 states share N143.6bn in September

    According to reports, the 36 states got N143.6 billion from the federation account in September as their share of distributable revenue generated for the month.

     

    The breakdown shows in a report obtained by the News Agency of Nigeria from a source at the office of the Accountant-General of the Federation in Abuja on Sunday.

    The funds are usually shared the following month; for example, revenue generated in January is shared in February; thus, the revenue shared was actually generated in August and […]

  • World Bank intervention in Nigeria’s agriculture hits $1.5bn

    World Bank intervention in Nigeria’s agriculture hits $1.5bn

    According to reports, the World Bank says the worth of its running projects in the Agriculture sector in Nigeria is 1.5 billion dollars.

    The Senior Chief Agric. Economist of the organisation, Dr Adetunji Oredipe, made this known to newsmen at a live Video Conference to celebrate “End Poverty Day.’’

    He said that in Africa, the bank’s strategy to ending extreme poverty and boosting prosperity was through investment in agriculture.

    He said that the bank dedicated 10 per cent of its total portfolio in […]

  • Soludo reveals how Buhari can become Nigeria’s greatest statesman

    Soludo reveals how Buhari can become Nigeria’s greatest statesman

    Former governor of the Central Bank of Nigeria, Prof. Charles Soludo, has stated that for President Muhammadu Buhari to become the greatest statesman ever, he needs to bequeath to Nigerians a new constitution that is negotiated by the people of the country, adding that this will place him in the mold of Abraham Lincoln of America.

    “We need a new constitution negotiated by the people of Nigeria, if this is the only achievement of President Muhammadu Buhari, he would have been […]

  • Nigeria’s total debt stock is N16.3 trillion – Minister

    Nigeria’s total debt stock is N16.3 trillion – Minister

    Nigeria’s total national debt stock for both the Federal Government and the States stood at N16.3 trillion as at June 30, this year.

    The Minister of Budget and National Planning, Udoma Udo Udoma, who disclosed this said it is made of foreign liabilities of N3.2 trillion and domestic liabilities of N13.1 trillion.

    According to the Media Aide to the Minister, James Akpandem, it was necessary to correct a misconception carried in the media regarding the Minister’s response to the country’s debt status […]

  • See the Unique Way Nigerian Soldiers Celebrated Nigeria’s 56th Independence (Photos)

    See the Unique Way Nigerian Soldiers Celebrated Nigeria’s 56th Independence (Photos)

    Nigerian soldiers have celebrated Nigeria’s 56th independence in style as they paraded the green white green colors along the streets of Borno State.

    As Nigeria marked its 56th Independence yesterday, some gallant men of the Nigerian Army took time out to ride along the roads of Borno State to celebrate. The soldiers holding national flags rode through the streets in a happy mood as they prepare to battle more Boko Haram terrorists.

    Sharing the wonderful photos on his Facebook, […]

  • Nigeria’s external reserves drop to $24bn

    Nigeria’s external reserves drop to $24bn

    According to the latest data posted on the Central Bank of Nigeria’s website, the country’s external reserves have depleted further to a record-low of $24.8bn.

    The foreign exchange reserves fell by $600m in two weeks before shedding $1bn in four weeks, the CBN statistics showed.

    Specifically, the reserves fell from $25.8bn on August 16 to $24.8bn on September 16. It decreased by $600m from $25.4bn recorded on August 31 to $24.8bn on September 16, the current CBN data revealed.

    The spate of decline […]

  • Nigeria’s economic recession is a blessing in disguise – Senate Leader, Ali Ndume

    Nigeria’s economic recession is a blessing in disguise – Senate Leader, Ali Ndume

    Nigeria Senate Leader, Ali Ndume has described the economic recession as a blessing in disguise as the experience would force the nation to look outside the box.

    He stated this at a press briefing after Tuesday’s plenary, stressing that the phenomenon was not peculiar to Nigeria alone, but other oil producing countries.

    Ndume further noted that the National Assembly has generated ill-feelings from Nigerians on their experiences, which would be used as ingredients for lawmaking with the purpose of getting the country […]

  • How to reflate Nigeria’s economy – Kachikwu, Adeosun, Udoma, Enelamah

    How to reflate Nigeria’s economy – Kachikwu, Adeosun, Udoma, Enelamah

    According to reports, the Minister of State for Petroleum, Dr. Ibe Kachikwu, has identified seven key implementation strategies to boost the petroleum industry and enable export of refined products by 2019.

    Kachikwu announced this at the Presidential Quarterly Business Forum between the Private Sector and the Economic Management Team in Abuja on Monday.

    Represented by Johnson Awoyemi,, the Senior Technical Adviser of the ministry, the minister identified peace and security in the Niger Delta region as crucial in the programme.

    Kachikwu mentioned policy […]

  • How Nigeria’s federalism was killed – Ogbemudia explains

    How Nigeria’s federalism was killed – Ogbemudia explains

    The destruction of Nigeria as a federal structure started when the position of Chief Justice as head of the judiciary in the regions was scraped and replaced by the Chief Judge.

    Two-time Governor of old Midwest and Bendel states, Dr. Samuel Ogbemudia, disclosed this at a reception to mark his 84th birthday.

    On the occasion, a school he built as military governor, New Era College, was renamed Dr. Samuel Ogbemudia College.

    His words: “Many years ago, regions had their constitutions and CJs were […]

  • Nigeria’s population assuming liability status – CBN

    Nigeria’s population assuming liability status – CBN

    Director of Monetary Policy Department of Central Bank of Nigeria (CBN), Dr. Moses Tule, has warned that a time bomb may be ticking except the federal government takes steps to expand the economic base that will help to stimulate the economy, and create jobs for our teeming youths.

    Nigeria’s current population is put at 185 million and projected to be the third most populous country in the world by 2017 by the United Nations.

    Speaking at the 40th yearly conference of Nigerian […]

  • Rio Paralympics: Lucy Ejike wins Nigeria’s third gold medal

    Rio Paralympics: Lucy Ejike wins Nigeria’s third gold medal

    Team Nigeria’s Captain at the ongoing Rio 2016 Paralympics Games, Lucy Ejike, has added another gold medal to the country’s medal haul.

    Ejike did not only win a gold medal but did so in an astonishing manner, shattering the Paralympic and World Record three successive times to dominate the women’s -61kg event in Powerlifting.

    Ejike began her campaign at the Riocentro Pavillion 2 on Sunday with a successful attempt at 136.0kg, which was a new Paralympic Record (PR) and World Record (WR).

    However, […]