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Economy

NYSC secures N200m bank facility for disbursement to corps members as loans – DG
                                                                                                                                         The National Youth Service Corps (NYSC) on Friday said it had secured over N200 million bank facility for disbursement to corps members as loans to enbale them start their businesses. Brig.-Gen. Johnson Olawumi, the Director-General of the corps, said this when the Commander, Guards Brigade, Nigerian Army, Brig.-Gen......
Debt Restructuring: Osun, Delta, Ogun, Eight Others Issue N322.78bn Bonds
 11 more states to follow as ECA rises marginally to $2.207bn In a bid to secure debt relief that will free up funds to meet their financial obligations to workers, contractors and other debtors, Osun, Delta and Ogun have topped the list of 11 states, which have issued federal government.....
Cash crunch: 22 states apply for bonds — NEC
National Economic Council, NEC yesterday revealed that a total of 22 States have applied for the Federal Government of Nigeria bonds to raise money to remedy their indebtedness to commercial banks. Of this number, 11 States have successfully been screened by the Central Bank of Nigeria, CBN and Debt Management.....
FG to increase VAT to 10%
Nigeria plans to double the value-added tax rate to 10 per cent this year to help shore up government revenue eroded by the declining price of oil, the country’s main export, the Federal Inland Revenue Service said. “The plan is to increase to 10 percent this year, but we have.....
Nigeria’s millionaire class increases from 5,000 to15,400
Despite increasing economic hardships, the latest wealth report has indicated that the number of millionaires in Nigeria has risen to 15,400, about 305 per cent from 5,000 recorded in year 2000, when the last study on wealthy was conducted. Their combined networth is about USD150 billion (about N30 trillion).Global Wealth.....
US agency to train Dangote Oil Refinery workers
 The United States Trade and Development Agency has signed a $997,447 training grant with Dangote Oil Refining Company to develop critical human capacity resources necessary to successfully operate and maintain Dangote’s Greenfield petroleum refinery situated in Lagos. The USTDA grant will fund a multi-year programme to train over 100 employees.....
GEN, Elumelu Foundation join forces to Spark global entrepreneurship
An impressive collection of organizations have come together to answer President Barack Obama’s call at the Global Entrepreneurship Summit yesterday in Nairobi, Kenya, to advance entrepreneurship and economic growth around the world. Representatives of the Global Entrepreneurship Network (GEN), Entrepreneurs’ Organization (EO) and Tony Elumelu Foundation (TEF) participated in a.....
Arunma Oteh gets world bank appointment
Arunma Oteh, former Director-General, Security Exchange Commission (SEC) has been appointed Vice President and Treasurer of the World Bank. The appointment was on Friday confirmed in a press statement issued by Jim Yong Kim, World Bank President of the World Bank. The statement reads: “I am pleased to announce the.....
Ikeduru- Born Businessman set to build Abattoir across Nigeria
-Signs MoU with Federal Govt Decrying the poor meat condition round the country, an Ikeduru, Imo State born businessman,Dr Uzoma Obiyo, may have stepped in to rescue the situation as his Group,Multi-Net, entered into a Memorandum of Understanding with the Federal Government on the development and operation of Modern International.....
Geometric Power, banks, others sign N15bn new agreement on power
Aba Integrated Power Project (Aba IPP) has signed a  N15 billion new Transaction Implementation Agreement with its leading sponsors, Geometric Power project companies, pursuant to which Afrigem Integrated Utilities Limited becomes a core investor in the integrated electricity power project. According to the parties, the new Transaction Implementation Agreement is expected.....
FG set to begin privatisation of BOA, BOI, NCX – Official
The Bureau of Public Enterprises (BPE) has announced its plans to commence the privatisation process of the Bank of Agriculture (BOA), Bank of Industry (BOI) and the Nigeria Commodity Exchange (NCX). This is contained in a statement made available to newsmen on Thursday in Abuja by the bureau’s Head, Public Communications,.....
FEBRUARY 2015 Federation Allocation: FG, STATES, LGCs share N522.052 Billion
The Federal, States and Local Government Councils have shared a total of N522.052 billion as federal allocation for the month of February, 2015. A communiqué issued by the Federation Accounts Allocation Committee (FAAC) indicted that the Gross Revenue received for February 2015 was N401.467 billion. This amount, when compared to.....

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