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The Federal Government is working toward enhancing special economic zones to boost FDI in Nigeria’s economy and creating a large number of employment opportunities. This initiative is part of the government’s promise and effort to revamp the economic sector thereby generating massive national income. It was in this light that The Federal Government announced the…
The president of African Development Bank (AFDB) Akinwunmi Adesina, during the 59th Ordinary Session of ECOWAS Conference of Heads of State and Government held in Ghana, had declared that; “The $430 million highway project connecting Enugu and Bamenda in Cameroon, will be completed next year”. In a recent follow-up comment on this, the African Development…
Nigeria has declared a long list of activities to mark the national Micro-, Small and Medium-sized Enterprises Day, (MSME) in tandem with World MSME Day as declared by the United Nations (UN). The UN General Assembly declared 27 June as Micro-, Small and Medium-sized Enterprises Day, to raise public awareness of their contribution to sustainable…
 The federal government has announced plans to concession Nigeria’s four major airports. These airports include; Murtala Muhammed International Airport Lagos (MMIA), Nnamdi Azikiwe International Airport Abuja (NAIA), Mallam Aminu International Airport Kano (MAKIA) and Port Harcourt International Airport (PHIA). Recently, Hadi Sirika, Minister of Aviation received the Outline Business Case Certificate of Compliance for…
An Abuja federal high court on Monday 21 June 2021 ordered oil giant, ExxonMobil and the Nigerian National Petroleum Corporation (NNPC), its Joint venture partner to pay a cumulative sum of N81.9 billion to Ibeno communities in Akwa Ibom as damages for oil spillage. This amount, according to the presiding judge, Justice Taiwo Taiwo must…
Some governors from the opposition party, after a recent meeting in Uyo, have raised alarm over what they call Nigeria’s rising debt profile. The grumbling governors were raising an alarm that Nigeria’s debt to GDP ratio is becoming very unhealthy. The debt to GDP ratio is defined as a benchmark that compares “a country’s public…
Fraud in the banking sector isn’t a new phenomenon neither is it peculiar to any nation. It affects all nations in all the continents of the world. Nigeria’s banking sector has faced a lot of crises and failures, which can be traced back to the 1930s. During this time, all indigenous banks, except the National…
The high cost of governance in Nigeria has become a very disturbing phenomenon and has been widely acknowledged by many as one of the country’s most niggling problems. Regrettably, for one inconsequential reason or the other, many state actors at all levels in Nigeria do not seem to understand the importance and expediency of cutting…
A recent report from the Nigeria Inter-Bank Settlement System (NIBSS) reveal that Nigerians transacted over N20 trillion instant payment transactions in May 2021. Transactions in May 2021 were 0.15% higher than in April 2021. Instant payment transactions in May 2021 also showed a spending recovery from the month of April. The volume of transactions increased…
The emergence of the COVID-19 pandemic has been disastrous for all economies around the world including Nigeria. The downturn in the Nigerian economy precedes the epidemic, however, as GDP per head has been on the descent since 2015. Presently, everything is now very expensive. Inflation is as high as 18%, while food is at 23%….
