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Nigeria recorded N3 trillion negative foreign trade balance in the Third Quarter(Q3) of 2021 as total import hits N8.2 trillion against N5.1 trillion in the period under review National Bureau of Statistics(NBS) has revealed. Dr. Simon Harry, the Statistician General of the Federation and Chief Executive Officer of National Bureau of Statistics, made this disclosure during a…
Economic and Medical experts have warned that Nigeria’s economy could be under intense pressure as more people become exposed to newer and deadlier variants of COVID-19. Only 3,774,203 Nigerians, that is 1.887 per cent of the country’s 200 million population and about three percent of eligible persons fully vaccinated against COVID-19. The latest SARS-CoV-2 variant,…
In order to guide the implementation of the 2022 appropriation, President Muhammadu Buhari has written the Senate again, seeking the consideration and subsequent passage of the 2021 Finance bill. This was contained in a letter dated 7th December and addressed to the President of the Senate, Senator Ahmad Lawan, and read Tuesday during plenary.In the letter, President…
In recent times more positive reports have been coming from Nigeria’s apex regulatory body in banking with the recent revelation by The Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN) and Chairman FITC Board, Mrs. Aisha Ahmad, that the Loan-to-Deposit ratio (LDR) has hit about N7 trillion on bank savings. Mrs Ahmad stated that…
Nigerian Communications Commission (NCC), has listed Subscriber Identity Module (SIM) swaps and Unstructured Supplementary Service Data (USSD) e-payment frauds as some of the biggest cyber threats confronting the telecom industry. According to the Commission, attackers target telecom networks with the intent of getting access to consumers’ information in the databank of service providers. Director, Consumer…
The federal government of Nigeria has lifted the ban on the operations of Emirates Airlines, saying the flights from the United Arab Emirates to Nigeria has commence immediately. The minister of Aviation, Hadi Sirika, announced the lifting of the ban on Friday night, adding that the ban was lifted after the stringent conditions put by…
Lagos State has recorded another landmark in its plan to cut down the use of dirty fuels responsible for carbon emission and air pollution. Governor Babajide Sanwo-Olu, on Thursday, commissioned a 40 metric tons Liquified Petroleum Gas (LPG) Refill Plant in Ikorodu division. The Governor, in company of his Deputy, Dr. Obafemi Hamzat, opened the…
Nigeria and Pakistan on Thursday signed trade agreements on affordable cardiovascular pharmaceuticals and other antibiotics at the ongoing trade exhibition by Pakistani companies in Lagos. The agreements were signed on the last day of the 2nd Pakistan-Africa Trade Development Conference and Single Country Exhibition. The Deputy Managing Director, Assene Laborex Eurapharma, Mr Renaud Beauchamp, after…
Sen. Tanko Al-Makura, Chairman, Senate Committee on Solid Minerals, Mine, Steel Development and Metallurgy, has called for special funding towards reactivating the Ajaokuta Steel Company in Kogi. He stated this on Thursday while presenting the 2022 budget report of his committee to the Senate Appropriation Committee. Al-Makura (APC-Nasarawa) stressed the importance of the solid minerals…
Information, Communication and Technology (ICT) sector has contributed N8.13tillion to real Gross Domestic Product (GDP) in the nine months to September 2021. According to data collated from the National Bureau of Statistics (NBS’) reports the sector is composed of the four activities of telecommunications and information services; publishing; motion picture, sound recording and music production;…