The Federal Government, on Tuesday, said Nigeria spent $6bn on the importation of wheat into the country between 2016 and 2020, a period of five years.
Minister of Agriculture and Rural Development, Mahmood Abubakar, disclosed this at the Stakeholders Validation Workshop of the National Wheat Strategy Document in Abuja.
He stated that with the growing population and consumption rate of wheat and…
The Nigeria National Petroleum Corporation Limited will have the first right of refusal to supply the Dangote refinery with about 300,000 barrels of crude oil per day for the next 20 years.
The Group Chief Executive Officer, NNPC Ltd, Mele Kyari, disclosed this to…
The Securities and Exchange Commission (SEC) has alerted Nigerians on signs to look out for in identifying bogus investment schemes, otherwise known as Ponzi schemes.
Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, said identifying bogus…
The Bank of Industry on Monday said it has accessed a €100m credit under the Transforming Financial Systems for Climate programme of the agency, in collaboration with the Green Climate Fund.
In a statement, the Managing Director, BOI, Olukayode Pitan, said this at the 2nd regional roundtable on ‘Creating world class sustainable development financial institutions through embracing holistic…
Consumers of household kerosene, also known as cooking kerosene, paid 99 per cent more to purchase a gallon of the product in the last one year.
This is according to data from the Nigerian Bureau of Statistics, NBS. The statistics agency said the average retail price per…
Agusto & Co. Limited, a pan-African credit rating agency and business information provider, has projected loans in the banking sector to rise by 16.5 per cent.
It disclosed this in its annual ‘2022 Nigerian banking industry report’, which provided a comprehensive…
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 National Bureau of Statistics, NBS.
The NBS…
The management of Dangote Sugar Refinery Plc has said it is set to reduce the importation of sugar into the country by 40 per cent.
The President, Dangote Group, Aliko Dangote, said in a statement that it was embarking on Phase II of its sugar project, which would cover over…
N19.76tn budget proposal: N12tn deficit worries FG, debt may hit N54tn
August 30, 2022
The Federal Government is proposing a budget with estimates totalling N19.76tn, while the deficit will hover between N11.30tn and N12.41tn in the 2023 fiscal year.
If the deficit settles at N12.41tn in 2023, the Federal Government may need to borrow to finance it, which…
Nigeria is missing from the list of beneficiary countries for the $315 million World Bank fund for African countries to support food security.
The second phase of the West Africa regional Food Systems Resilience Program (FSRP-2) approved yesterday in International Development Association (IDA) financing will benefit an additional two million Africans- from Chad, Ghana and Sierra Leone.
Nigeria…
