BUSINESS NEWS

The nation’s foreign trade in goods rose quarter-on-quarter, QoQ, by 11 per cent in the first quarter of 2022 (Q1’22) to N13 trillion from N11.7 trillion in Q4’21. The National Bureau of Statistics, NBS, disclosed this today Friday,in its Foreign Trade in Goods Statistics Report for Q1’22. According to the bureau, the value of exports […]

Financial experts have urged the Federal Government to tackle rising insecurity headwinds in the country to boost economic growth and development. AfDB had projected the average growth rate of Nigeria’s economy this year through 2023 at 3.2 per cent. The 2022 Economic Outlook report was released at its Annual General Meeting in Accra, Ghana, that […]

The Debt Management Office (DMO) says it is advisable for Nigerians to invest in the various Federal Government Securities, as they are profitable and risk-free. The Director-General of the DMO, Patience Oniha, said this in an interview with the News men onTuesday in Abuja. Oniha said the various Federal Government of Nigeria (FGN) Securities, apart […]

Nigeria’s policy efforts portend well for meeting the Sustainable Development Goal (SDG) 13 on climate action by 2030. However, risks abound, the African Development Bank (AfDB) economic report reveals. The AfDB’s African Economic Outlook 2022 unveiled at the Bank’s Annual Meetings in Accra, Ghana on Thursday revealed that the Climate Change Act (2021) aligned with […]

The Central Bank of Nigeria (CBN) has set criteria to be met by Other Financial Institutions (OFIs) to qualify for enrollment onto the Credit Risk Management System (CRMS). Mr Chibuzo Efobi, Director, Financial Policy and Regulation Department, said this in a circular posted on the CBN website on Tuesday. The circular has the caption: “Re: […]

The National Bureau of Statistics (NBS) has said average airfare increased by 52.44% from N36,406.46 in April 2021 to N55,501.49 in April 2022. It document titled: “Transport Fare Watch for April 2022,” that made this disclosure said the fare rose from N46,810.62 in March 2022 to N55,501.49 in April 2022. “The average fare paid by […]

The Central Bank of Nigeria (CBN) has increased interest rate to 13.5 per cent for the first time in two and half years. Addressing the reporters after the Monetary Policy Committee (MPC) meeting in Abuja, CBN Governor, Godwin Emefiele, attributed the increase to global developments. Increasing the interest rate, he said, is to tame inflation […]

The Nigerian Shippers’ Council (NSC) has reiterated deepened commitment to the promotion of the country’s non-oil export. Mr Emmanuel Jime, Executive Secretary, NSC, said this when Dr Ezra Yakusak, Executive Secretary, Nigerian Export Promotion Council (NEPC) led a team to visit him on Tuesday in Abuja. Jime expressed the council’s readiness to partner with the […]

Some stakeholders in the Nigerian aquaculture subsector have harped on the need to bridge the gaps in the sector to foster international acceptance of locally grown fish. The stakeholders said this at the ongoing Norwegian Seafood Council capacity training for fishery officers and stakeholders in Lagos. The Norwegian Seafood Council representative, Mrs Abbey Cheke, harped […]

Ms Samuela Isopi, the Ambassador to the EU Delegation to Nigeria and ECOWAS, has put the trade volume between the bloc and Nigeria in 2021, at 28.7 billion euros. The envoy said this at the Europe Day celebration, which was held at the EU Residence in Abuja. The Europe Day is a day set aside […]