Economy

NO discerning Nigerian patriot—including those in the saddle of governance—is or should be in any doubt about the frightening decline of the nation’s economy. This nose-dive has been inevitable for some time—judging from the monocultural […]

While answering questions from State House Correspondents after leading officials of Nigerian Union of Petroleum and Natural Gas (NUPENG) workers and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to a meeting with […]

Our economy did well in the last decade with the average GDP growth rate between 2005 and 2015 reaching an impressive 5.9%. Notwithstanding, the economy is still in the doldrums as it struggles to cope […]

Discussing with a friend about the power sector reforms, we came very quickly to the issue of the tariff review. It took me a while to lay out for him facts about the industry that […]

When, two weeks ago, for the first time in months, the price of crude oil rose to $40 per barrel, up from about $30 in the international oil market, many discerning Nigerians chose to celebrate […]

It’s Easter and that’s something to cheer us. To boot, the Senate has given us a rare Easter gift by passing the budget on Wednesday, after three months into the year. The debate over the […]

The grim economic situation in the country appears to be deepening by the day as 27 states in the country are finding it difficult to pay the salaries of their workers. President Muhammadu Buhari said […]

The Lagos and Kebbi State Governments wednesday signed a memorandum of understanding (MoU) which they said would culminate in the production of 70 per cent of Nigeria’s rice requirements annually. The two states governments also […]

Lawmakers have retained the N500 billion intervention fund for the poor in this year’s N6,077,680,000,000 budget. The Muhammadu Buhari administration plans to dole out N5,000 to the poorest in the land and feed school pupils, […]

OPEC member Nigeria expects oil producers to agree a supply freeze at a meeting in Doha next month which should stabilize crude prices even if Iran does not join, its petroleum minister said on Wednesday. […]

The two-day retreat of the National Economic Council (NEC) ended Tuesday in Abuja with federal authorities and the country’s 36 states agreeing on at least 71 proposals they believe will reinvigorate Nigeria’s wobbling economy. The […]

The Federal Government, state governments and local government councils have shared N345.095 billion as Federal Allocation for the month of February, 2016. A communiqué issued by the Federation Accounts Allocation Committee (FAAC) and signed by […]

Osinbajo heads implementation committee Highlights •Contractors will be paid for retrenched workers’ return •UBEC counterpart funding to reduce from 50% to 10% to free about N58 billion for states •State to reduce number of political […]

Nigeria’s state-owned oil company has failed to pay the government $25bn (£17.5bn) over five years, the nation’s fiscal commission has said. It includes $15bn that the nation’s auditor general last week said the Nigerian National […]

THE mutterings of discontent are growing louder in Nigeria’s street markets. The price of a bag of rice has surged by 12.5% in the past month. Supplies of bread have dwindled after bakers turned off […]

With the February 2016 inflation figure of 11.4 per cent, the highest in three years, Nigeria’s economy would now be grappling with the misery index, which measures the level of suffering in a society. The […]