Economy

Ekiti State government has signed a Memorandum of Understanding (MoU) with a United Kingdom-based firm, Elemi Energy Limited, for the installation and development of 1.15 megawatts Solar Photo Voltaic (PV) Farm. The project, which was […]

The Nigerian National Petroleum Corporation, NNPC, yesterday said it signed an interim Offshore Processing Agreement, OPA, contracts with three of its Joint Venture, JV, companies. The corporation in a statement issued upon Vanguard enquiries on […]

The Federal Government’s contribution to the Sovereign Wealth Fund (SWF) has been stalled due to falling crude oil prices in the international market. The Managing Director of Nigeria Sovereign Investment Authority (NSIA), Uche Orji, spoke […]

The Lagos Chamber of Commerce and Industry, LCCI, yesterday, said the biggest challenge facing investors currently is the dislocations caused by the recent foreign exchange policies of the Central Bank of Nigeria, CBN. Speaking at […]

The Federal Government yesterday faulted J.P. Morgan’s announcement that it would exclude Nigeria from its local-currency emerging market bond indexes tracked by more than $200 billion of funds.It hinged the decision on the Central Bank […]

THE Senate was told, yesterday, that the Federal Government has invested a N2.74 trillion in Nigeria’s power sector over the last 16 years (1999 to date). The investments were made during the regimes of former […]

A NEW helmsman is set to take over at First Bank. Dr. Adesola Adeduntan, the Executive Director/Chief Financial Officer, is Managing Director-designate. He is to succed Mr. Bisi Onasanya, who has given a notice of […]

This discourse seeks to affirm the need for the economy to be prioritised in President Muhammadu Buhari’s schedules and interventions. The first 100 days of the Buhari administration was for settling down and the high […]

• Engages firm to audit SAA agreement with Atlantic Energy, $2.46bn to be recovered A preliminary report submitted to President Muhammadu Buhari by the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), […]

Despite the support President Muhammadu Buhari has received so far from the media, relative to his immediate predecessor, Goodluck Jonathan, concerns continue to grow that his slow pace at providing policy direction and appointing a […]

The acting Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has resolved to engage the services of audit firms, chartered accountants, tax consultants and other professional service providers in a landmark collaboration to […]

The Nigerian National Petroleum Cooperation (NNPC) has begun the process of recovering over $7 billion in over-deducted tax benefits from JV Partners on major capital projects, the Nigerian presidency has said Quoting a report submitted […]

Former President Goodluck Jonathan has congratulated Dr Akinwumi Adesina and Ms Arunma Oteh, who were recently appointed into top positions in the African Development Bank (AfDB) and the World Bank respectively. These appointments Jonathan said […]

The anti-corruption crusade of President Muhammadu Buhari’s government has majorly been felt in the oil and gas sector. But the speed, at which the president has taken his anti-graft war to the sector, within the […]

For over five weeks now the Nigerian foreign exchange system has been on drama sketch. It is unbelievable that at a time of harsh economic circumstances manifesting in the form of sharp decline in foreign […]

At the last count, the debt owed by Nigerian state governments to Deposit Money Banks (DMBs) was in excess of N600 billion. The dire state of most state governments’ finances was evidenced by their inability […]

Tanks have credited three more states with the bailout loans they applied for to enable them to pay workers’ outstanding salaries. Sources at the Central Bank of Nigeria (CBN), which guaranteed the loans, told our […]

The Nigerian National Petroleum Corporation, NNPC, has given a 90 days ultimatum to the Management of the Warri Refining and Petrochemicals Company, WRPC, to commence full production at the facility. Speaking at the end of […]

The gentleman is in charge in a tiny country, but he has big ideas.  With a population of about 192,000, his country is the second smallest in Africa. However, his huge vision of a people-centred […]

President Muhammadu Buhari has yet to outline the direction and goals of his economic policy. Even so, major players in the country’s economy are already feeling the impact of specific policy decisions as they are […]