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…
The Federal Government received N1.09tn from indirect taxes in the first two quarters of 2022, according to data from the National Bureau of Statistics.
This represents a 10.29 per cent increase from N984.33bn obtained in the first two quarters of 2021.
Indirect taxes are…
The Vice President, Professor Yemi Osinbajo, SAN, said it was unfitting to compare the realities of the Nigerian economy with those of other smaller African states.
He argued that at least 10 Nigerian states “have bigger GDPs than those countries.”
Osinbajo also noted…
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.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, who made this known in Abuja on Monday, decried that the government might be unable to provide for treasury funded capital projects next year, especially due to…
