Nigeria’s Pension Assets Hit N9.58 trillion

The National Pension Commission (PenCom) says its assets in the contributory pension scheme (CPS) have grown to N9.58 trillion. Aisha Dahir-Umar, acting director-general of the commission, said this on Thursday while speaking at a journalism workshop in Benin, Edo state...

Lai: Benefits of Border Closure Surpass Rising Inflation

Lai Mohammed, minister of information, says the benefits of closing the land borders are more than the disadvantage of rising inflation. Mohammed said this shortly after Zainab Ahmed, minister of finance, said the closure of the country’s land borders is...

Border Closure Contributing To Rising Inflation-Finance Minister

Zainab Ahmed, minister of finance, says the closure of the country’s land borders is contributing to rising inflation. Last week, the Nigeria Bureau of Statistics (NBS) released figures that showed that the consumer price index, which measures inflation, rose to...

Nigeria: Border Closure – Obasanjo Backs Buhari

Former President Olusegun Obasanjo, yesterday, spoke in favour of Nigeria's partial border closure with neighbours, asking Benin Republic to change its ways for a harmonious bilateral relationship between the two countries. Obasanjo spoke on a day former Director of Kenyan...

Concerns Trail $450m e-Customs Agenda

The e-Customs (paperless) agenda of the Nigeria Customs Service (NCS), and its $450million deal with the African Finance Corporation (AFC), has elicited concerns from stakeholders in the maritime sector, who believe that the system requires critical examination to avoid...

‘Manufacturers’ Productivity Hampered By Lagos Gridlock’

Local producers under the aegis of the Manufacturers Association of Nigeria (MAN), have raised concerns about the state of traffic gridlock in Lagos, noting that the situation is hampering the flow of goods and services as inventories’ level rises. According...

External Reserves Sink Below $40bn

The nation’s foreign exchange reserves have slumped below the $40bn mark, hitting their lowest level in 22 months, latest report from the Central Bank of Nigeria has shown. The external reserves, which have been on a downward trajectory in recent...

Crude Rises To $64.17, Fuel Subsidy Hits N43/litre

The rise in crude oil price has spiked the Expected Open Market Price of Premium Motor Spirit, popularly known as petrol, leading to a sharp increase in the amount spent on subsidy. Data obtained in Abuja on Tuesday showed that...

Nigeria’s GDP Grew In Third Quarter 2019 – NBS

The National Bureau of Statistics (NBS), says Nigeria’s Gross Domestic Product (GDP) grew by 2.28 per cent (year-on-year) in real terms in the third quarter of 2019. NBS said this in its “Nigeria GDP Report for Third Quarter 2019’’ released...

AGF Halts Ex-Customs Boss Dikko’s Trial

The Federal High Court in Abuja on Monday stopped the Economic and Financial Crimes Commission (EFCC) from prosecuting a former Comptroller-General of Customs (CGC), Abdullahi Inde Dikko, for alleged corruption. Justice Nnamdi Dimgba upheld Dikko’s argument that he could not...