On the nation’s 2023 economic outlook

December 6, 2022 Adewale Kupoluyi 0

In less than one month from now, the Nigerian economy would be starting another fiscal year. What does this portend? An opportunity has presented itself a couple of days ago during the 134th Annual General Meeting (AGM) of the Lagos Chamber of Commerce and Industry (LCCI), as the President, Asiwaju (Dr.) Michael Olawale-Cole, took time to examine this important issue. Read More

Agric sector remains livewire of Nigeria’s economy – Emefiele

November 29, 2022 Suleiman Idris Lagos 0

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has reiterated that the agricultural sector remains the critical factor behind the continuing resilience of Nigeria’s domestic economy despite the many downturns recorded in the last three years. The Apex Bank Governor, said though the Nigerian economy was not insulated from the spillover effects of the many shocks recorded Read More

RMRDC promoting oleochemical producing plants to boost economy

November 29, 2022 Blueprint 0

The Raw Materials Research and Development Council (RMRDC) over the years continue to spear head the promotion of the establishment of oleochemical (palm oil) producing plants in Nigeria to reduce importation of palm oil and boost Nigeria’s Gross Domestic Product (GDP); BINTA SHAMA reports. Research states that oil palm, derived from the palm fruit (Elaeis guineensis) is indigenous to Africa Read More

Beyond economic promises

November 7, 2022 Adewale Kupoluyi 0

A ray of hope was rekindled for the nation’s economy. Where did this happen and who were there? Taking a word from the President, Lagos Chamber of Commerce and Industry, Asiwaju (Dr.) Michael Olawale-Cole, it was at the opening ceremony of the 2022 Lagos International Trade Fair, held at the Tafawa Balewa Square, Lagos, which is the 36th in succession, Read More

Rekindle hope in the economy

October 26, 2022 Blueprint 0

The statement credited to President Muhammadu Buhari to the effect that despite the disruptions in global economy and internal troubles, the Nigerian economy has continued to be resilient and maintain an upward trajectory is quite soothing. Speaking at the inauguration of the Presidential Committee on the National Economy, in Abuja last week, the president pointed out that the COVID-19 pandemic, Read More

Life insurance uptake rises on economic uncertainty

October 20, 2022 Blueprint 0

Amidst hardship and the slow recovery of the economy, individuals and households are resorting to taking life insurance for the protection of future income and their defendants. Some of the consumers say they have decided to embrace insurance for long-term savings and capital accumulation, which could be used for future purposes, protection for children’s education and upkeep in the event Read More

Nigeria, exits, hopes, and ‘mobments’

October 16, 2022 Prince Charles Dickson PhD 0

In the spirit of Sankara, the Malian singer Oumou Sangaré released a wonderful song, Kêlê Magni (‘War Is a Plague’), in February 2022, which speaks for the entire Sahel: War is a plague! My country might disappear! I tell you: war is not a solution! War has no friends nor allies, and there are no real enemies. All people suffer Read More

The threat to food security

October 5, 2022 Blueprint 0

This newspaper at the weekend published a disturbing exclusive report on the quantum damage wrecked by floods across the country. The report, which is based on thorough nationwide survey, indicated that as a result of torrential rainfall in recent weeks, with no signs of slowing down, some states, especially those along the courses of Rivers Niger and Benue, are currently Read More

The Nigerian economy @62

October 3, 2022 Adewale Kupoluyi 0

On October 1, 2022, Nigeria celebrated 62 years as an independent nation. How has the country fared economically? This detailed examination was carried out by the Lagos Chamber of Commerce and Industry (LCCI) in its independence anniversary titled, “The Nigerian Economy at 62: The Need for Big Decisions”. According to the Director-General of LCCI, Dr. Chinyere Almona, in the last Read More

Experts charge insurers on prompt claims payment, economic growth

September 30, 2022 Blueprint 0

The need for insurance operators to make prompt payment of claims to retain public trust has been a major concern in some of the paper presentations of stakeholders at major industry events held between January and now. The stakeholders believe that claim payment is the basis for every insurance contract that could help to enhance confidence among insurance buyers so Read More

Obasanjo: We need a govt that understands governance

September 26, 2022 Segun Odunewu Lagos 0

Former President Olusegun Obasanjo has said Nigeria needs a government that has a proper understanding of governance. Obasanjo said this at a colloquium organised to mark the 113th anniversary of Kings College, Lagos. The former president, who chaired the occasion, said national identity is the foundation of social position, adding that weak social position causes distrust as people are reluctant Read More

Nigerian economy shrinks by N63bn as 28 sectors struggle

September 25, 2022 Blueprint 0

Twenty-eight sectors of the economy declined in the second quarter of 2022 as real Gross Domestic Product shrunk by N63.49bn quarter-on-quarter.While real GDP grew by 3.54 per cent year-on-year in Q2 2022, it declined by 0.37 per cent from the N17.35tn that was recorded in the first quarter of 2021 to N17.29tn in Q2, 2022, according to data from the Read More

Inflation, corruption, and banditry killing Nigeria’s economy

September 21, 2022 OlawaleFeranmi 0

Globally, this is not the best of times for any economy, particularly Nigeria. The battle against COVID-19 pandemic had barely settled and economies began to struggle to shake off the impact when Russia invaded Ukraine, disrupting world composure. Since February 2022 the world supply chain has been disrupted and prices of goods and services have risen astronomically. Nigeria’s situation is Read More

Oil dependence and need for green economy

September 21, 2022 Blueprint 0

Nigeria is currently Africa’s super power with the largest resources both in human and material parameters. It covers an area of 923,769 square kilometers with youthful population almost 2/3 of her population, a colossal human capital which an investor would like to exploit to boost their productivity in a progressive economy. Nigeria depends majorly on the oil natural resources, which Read More

Earning a living in cobbling business

September 19, 2022 Blueprint 0

An Abuja-based cobbler, Alhaji Abdul Gatar , 71 not minding his age is always willing to get his hands dirty so as to make, polish and mend shoes for his clients. The aged man also recounts sales and loss from the business, ADEOLA TUKURU reports . In his words “I tell my clients that I am ready to get my Read More

FIRS, Nami and Nigeria’s economic challenges

September 14, 2022 Sunday Gabriel 0

There is no doubt that the world economic outlook has darkened significantly for some obvious reasons – even developed economies are being threatened. In fact, countries are tottering on the edge of a global recession. Given the severity of the economic situation, the Bretton Woods institutions such as World Bank and the International Monetary Fund, IMF have issued warnings to Read More

Nigeria’s worrisome debt profile

September 7, 2022 Blueprint 0

Recent media report that the total debt owed to the World Bank Group by Nigeria rose by $660 million in the first six months of 2022, is not only worrisome but it is also an ominous sign of a comatose economy on the fringe of recession. Besides, a heavily indebted nation risks her economic autonomy, sovereignty and territorial integrity as Read More

Time to get serious about diversification

September 2, 2022 Blueprint 0

The diversification slogan continues to sound the loudest whenever the oil market is on the decline, but with increasing oil prices, the diversification noise becomes a whisper. However, many believe with the continuous fall in oil revenue, it is time the government took diversification of the economy seriously; BENJAMIN UMUTEME writes. From the administration of President Goodluck Jonathan, the calls Read More

Support for fossil fuels almost doubled in 2021 – Report

August 31, 2022 Benjamin Umuteme Abuja 0

New analysis by the Organisation for Economic Co-operation and Development and the International Energy Agency, has revealed that major economies sharply increased support for the production and consumption of coal, oil and natural gas, with many countries struggling to balance longstanding pledges to phase out inefficient fossil fuel subsidies with efforts to protect households from surging energy prices, according New Read More

Kashifu Inuwa Abdullahi’s IT sector vision is boosting Nigeria’s digital economy

August 31, 2022 Bashir Ibrahim Hassan 0

He was appointed by President Muhammadu Buhari in 2019 to lead the agency towards achieving the goal of using ICT to digitalize the nation’s economy. In setting about his job, Kashifu Inuwa Abdullahi, the Director General/CEO, National Information Technology Development Agency (NITDA), has what can be called a scientific approach to management, particularly of humans. In a recent interview with Read More

Nigeria’s economy: Four priority areas for the next president

August 30, 2022 Blueprint 0

Nigeria is preparing to elect its next president in February 2023. That person would have a daunting task fixing a near-comatose economy. The next president and his administration would encounter monumental economic and political challenges greeted by a distraught populace over rising poverty, inflation, unemployment and unprecedented levels of insecurity. To avoid the kind of violent protests that forced the Read More

Nigerians grow more discontent about economic conditions – Poll

August 29, 2022 Idachaba Sunday Abuja 0

The latest Afrobarometer survey conducted across the country has shown that Nigerians’ assessment of their personal living conditions and the country’s economic situation has worsened dramatically over the past two years. The survey indicated that the proportion of citizens experiencing moderate or high levels of lived-poverty has doubled since 2017 as majority of the people experienced shortages of basic necessities Read More

2023: Agenda of economic integration for incoming South-South governors

August 24, 2022 Blueprint 0

GODWIN EGBA in P/Harcourt sets the agenda for the incoming governors of the South-South states, to embrace the economic integration first forged by former governors of the region in 2009, to engender common prosperity in the Niger Delta. The South-South governors, among their counterparts in the other geopolitical zones, according to the timelines and schedules of activities by the Independent Read More

Masses under exploitation, what a country!

August 18, 2022 Carl Umegboro 0

The progressive suffering of the masses of this country, Nigeria, should give any human being with blood running in the vein a serious concern. Few days ago, on arrival in the Federal Capital Territory, I stumbled into two citizens – a commercial driver and passenger fighting over a gallon of kerosene allegedly kept carefully in the boot but discovered to Read More

NSE urges engineers to adopt ‘national responsibility for Nigeria’s growth’

August 16, 2022 Blueprint 0

The Chairman of Ikeja Branch of the Nigerian Society of Engineers (NSE), Engineer Olutosin Ogunmola, has disclosed that the association is evolving ‘actionable plans’ for the nation’s transformation. Ogunmola, who spoke at a press conference/media parley to usher in the 2022 Engineering Week in Lagos, urged professionals to adopt a sense of national responsibility for Nigeria’s growth. The week-long event Read More