The global impact of the COVID-19 Omicron variant, if not nipped in the bud will adversely affect Nigeria’s fragile economy, analysts at CSL Research said in a publication yesterday. The immediate effect of the new variant is sending negative ripples already. Already, the forecast for the international price of crude oil going into 2022 appears biased towards a decline, which Read More
Vice-President Yemi Osinbajo has assured the business community of the federal government’s unrelenting efforts to restore the country to a path of economic growth. He said on Friday in Lagos that the target was to make the growth rate higher than population growth rate. Osinbajo gave the assurance at the 2021 Presidential Policy Dialogue organised by the Lagos Chamber of Read More
The bad news is that our national economy remains stubbornly defiant. Past and present efforts to solve its inherent historical problems and cure it of its burgeoning weaknesses have not succeeded in changing the economic fortunes of this giant of Africa from being a potentially great nation to a great nation. And the World Bank continues to dish out the Read More
Speaking as a respected leader concerned with the development of his continent, not his country, President Muhammadu Buhari has said that African countries have the capacity to redouble their internal trade by 2030 and reduce their reliance on imports. The President spoke during the 2nd Intra-African Trade Fair 2021 in Durban, South Africa.According to him, most of Africa’s existing challenges, Read More
Former Senate Leader, Victor Ndoma-Egba, has said there are bottlenecks on the clamour for restructuring, adding that many Nigerians have different understanding of what they want. Ndoma-Egba, who was also chairman of the Niger Delta Development Commission (NDDC), in a telephone chat, Tuesday, called for common grounds if the agitation should see the light of day. He said: “There however Read More
Standard Bank has partnered withFlutterwave, Africa’s payments technology company, to enhance digital payments experiences for its customers in Nigeria, Zambia, Tanzania, Uganda, Ghana, Mauritius, Cote D’Ivoire and Malawi. Flutterwave and Standard Bank are collaborating to build e-commerce, card issuing, payments, collections, USSD, lending, and buy-now-pay-later capabilities for millions of Africans, both parties said. They said the integration will help customers Read More
‘No rubber, No Nigeria’ is a popular mantra among stakeholders in the rubber sub-sector in Nigeria. It is indeed an unassailable fact that the rubber sub – sector has tremendous potentials to help in reviving the economy of the country. Rubber, which used to be the fourth largest foreign exchange earner for Nigeria after crude oil, hide and skin and Read More
Regrettably, naira depreciation does not hold any assurance of better things economically for Nigerians. There is obviously misguided and unrealistic call that the naira be devalued in expectation that matching “official rates with parallel market exchange rates will attract foreign investors or ensure competitiveness of the Nigerian economy”. Conversely, foreign investors are ‘smart guys’ investing chiefly in economically and minimally Read More
Rite Foods, Nigeria’s leading food and beverage company, marks this year’s World Food Day with the commitment of providing consumers with its portfolio of quality brands to keep them refreshed and stay healthy. With the 2021 theme as “Safe food now for a healthy tomorrow,” World Food Day, which is celebrated yearly on October 16, commemorates the date of the Read More
President Muhammadu Buhari Thursday in Abuja directed Ministries, Departments and Agencies (MDA) to give priority to indigenous professionals for planning, design and execution of national projects, admonishing that foreign professionals should only be considered where it had been certified that the expertise was not available. Speaking at the inauguration of the Presidential Monitoring and Evaluation Council of the Executive Order Read More
The Senate has urged the Federal Ministry of Finance to, as a matter of urgency, release adequate funds to the Federal Road Maintenance Agency (FERMA) for the purpose of carrying out emergency repairs on all federal roads in the country. This was even as the chamber called on the federal government to immediately declare a state of emergency on federal Read More
The role of the National Productivity Centre (NPC) in the development and growth of the productive sector of Nigeria’s economy cannot be overemphasised. NPC was established as a multi-disciplinary, tripartite, research oriented parastatal under the supervision of the Federal Ministry of Labour and Productivity. It’s mandated to articulate sustainable and result oriented policies that will stimulate and promote the productivity Read More
Nigerians mark the 61st independence anniversary of their beloved country last Friday, few will disagree that, amidst the myriad of unnerving socio-economic and security challenges facing the nation, Nigeria remains a great country still waiting to happen. October 1, therefore, signals another opportunity to ponder on the state of the nation and the failure of leadership which has largely defined Read More
Nigerian Communications Commission (NCC) has developed three key regulatory instruments to further enhance quality of regulatory instruments in the communications industry. NCC Executive Vice Chairman Prof Umar Garba Danbatta noted that these instruments will contribute to the development of the communications industry and the Nigerian economy. He stated this at the Public Inquiry on three key regulatory instruments that have Read More
In 1929, Wall Street crashed signaling America’s descent in what is described as the Great Depression. The American stock market crashed to a terrible low marking the beginning of a decade of high unemployment, poverty, low profits, and deflation, plunging farm incomes, and lost opportunities for economic growth as well as for personal advancement. It was difficult to pinpoint Read More
The Director-General of the Abuja Chamber of Commerce and Industry (ACCI) Ms Victoria Akai has described the Dangote Group as the flagship and the epicenter for Africa’s industrialization. Speaking on the sideline of the Abuja International Trade Fair that was declared open Monday, the DG said the conglomerate has placed Nigeria on the continental and global map. “As a reputable Read More
Stakeholders in the oil and gas sector of the economy have disclosed that Nigeria’s experience with the local content in the last ten years “is on a positive trajectory.” They spoke in Abuja at the unveiling of the book: “Lessons From The Implementation Of Local Content And Value Addition In The Nigerian Oil and Gas Industry,” written by Dr. Aliyu Read More
The National Union of Charcoal Exporters (NUCE) has expressed deep worry over the continued ban on the exportation of charcoal, saying charcoal export was a major contributor to the Nigeria’s economy. This was the bone of contention at the meeting convened by the union in collaboration with the Federal Ministry of Industry, Trade and Investment in Abuja The director, Commodities Read More
After months of stalling because of Covid restrictions and Organisation of Petroleum Exporting Countries (OPEC) cuts, as well as significant international criticism over misplaced funds, Nigeria appears to be optimistic about the future of its faltering oil industry in a time when few others are. The Nigerian government announced weekend that it expects the country to produce 1.88 million barrels Read More
Former Central Bank of Nigeria (CBN) Governor, Khalifa Muhammad Sanusi has sounded the death knell for Nigerian economy, noting that crude oil on which the economy is anchored has no future and is no longer sought after globally. Addressing the sixth Kaduna Investment Summit, after inaugurating the state development plan 2021 to 2023, to transform the state into a knowledge-based economy, the Read More
When the Central Bank of Nigeria (CBN) restricted the sale of foreign exchange to BDCs, many thought that continuous slide of the country’s currency against the Dollar would cease, but alas, it is not to be as the slide has continued. In this piece, BENJAMIN UMUTEME looks at the implication of a weakened Naira on the nation’s economy. Alarm bells Read More
The Chairman of Sterling Bank Plc, Mr. Asue Ighodalo has said that the recent endorsement of the African Continental Free Trade Area (AfCFTA) by African countries will impact positively on the agricultural sector and trade on the African continent. Ighodalo said this in Lagos while addressing participants at the opening of the 4th edition of the Agriculture Summit Africa (ASA) Read More
Bamidele Salam, the legislator representing Ede North, Ede South, Egbedore and Ejigbo Federal Constituency in the House of Representatives, has decried the continuous fall of the value of Naira against dollar. Salam, in an interview on Tuesday in Abuja decried the continuous devaluation of the Naira, saying that the Nigerian currency was doing badly when compared to other currencies of Read More
The Permanent Secretary, Federal Ministry of Science, Technology, and Innovation, Mr. Edet Sunday Akpan has called on the Organised Private Sector (OPS) to explore ways of partnering with the various research institutes and agencies in commercializing viable products and services for the nations’ benefit. The Permanent Secretary said this when he declared open the 19th Meeting of the National Council Read More
A former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu has said that if Nigeria doesn’t diversify its economy but continues to rely on crude oil as a mono-product economy, the Naira crisis may get worse, and not better. Recall that since the suspension of forex sales to Bureau De Change (BDC) operators by the CBN, the Read More
Copyright © 2021 | Blueprint Newspapers Limited | About Us | Online team | Contact us | Our mission | Advert rate | Editorial Board