Nigeria’s problem is revenue, not debt – Finance minister
Minister of Finance, Zainab Ahmed, has said that Nigeria does not have a debt problem, despite misgivings amongst experts over the country’s rising debt profile. Ahmed, who decried what she termed ‘insensitivity’ concerning the country’s debt situation, said what Nigeria had at the moment was a revenue problem rather than debt challenge. Click here for more.
US revises visa issuance fees for Nigerians
The United States has announced that Nigerians will be required to pay visa issuance fees or reciprocity fees from the 29th of August 2019. It will be charged alongside the non-immigrant visa application fee which all applicants pay at the time of application. Click here for more.
Customs retire 304 top officers
The Nigeria Customs Service on Monday confirmed its plans to retire 304 top officers, including two deputy comptroller generals, three assistant comptroller generals. Other affected officers are 13 comptrollers, 39 deputy comptrollers and 45 assistant comptrollers. Click here for more.
Why all Nigerian ports suffer dilapidated road network
The dilapidated nature of major roads linking seaports across the country has continued to cause setback for trade facilitation thereby hindering the much-anticipated economic growth. Click here for more.
Potency of ‘empowerment’ for economic growth, job creation
Though empowerment, as a word, has been used by all and sundry at various times, it embodies heavy message that Nigeria and the global community want to see materialise. Click here for more.
Investors Lose N43.34bn As NSEASI Dips Further By -0.32%; Sell Pressure Persists
Equities market closed yesterday on a negative note, as NSEASI depreciated by -0.32% to close at 27,602.77 points as against -0.39% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.18%. Click here for more.
Nigerian Bourse Sets to Host 4th Edition of NSE Market Data Workshop
The Nigerian Stock Exchange (NSE) is set to host the 4th edition of the NSE Market Data Workshop. The event is scheduled to hold on Wednesday, September 11, 2019, at the Harbour Point, 4 Wilmot Close, Victoria Island, Lagos. Click here for more.
Manufacturing PMI Stands at 57.9% in August 2019 from 57.6% in July 2019
The August 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period August 13-21, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). Click here for more.
Nigeria’s foreign reserves shed $1 billion, biggest fall in 17 months
Nigeria’s foreign reserves depleted by $1 billion in August 2019. This is reflected in the data published on the website of the Central Bank of Nigeria (CBN). According to the data obtained from the apex bank’s website, Nigeria’s foreign reserves stood at $45 billion on the 25th of July 2019, while the figure has recorded a decrease and stood at $44 billion as of 23rd August 2019. Click here for more.
A Lever for Consumer Lending
A report by McKinsey & Co, a global management consulting firm, had stated that Nigeria has the potential to be one of the world’s top 20 economies by 2030, with a consumer base that will exceed the current population of France and Germany. Click here for more.
Manufacturers Demand Comprehensive Industrial Policy from Federal Govt
Operators in the Nigerian manufacturing sector have stressed the need for the federal government to develop a coherent and comprehensive industrial policy to address challenges constraining the real sector and to drive competitiveness in the sector. Click here for more.
Imperial Logistics Seeks Partner for African Freight Growth
Imperial Logistics Ltd. is looking to expand into air and sea transportation as the Africa-focused logistics group offers more services to multinationals with sales on the continent. The Johannesburg-based company delivers goods for the likes of U.K. drugmaker GlaxoSmithKline Plc and Dutch brewer Heineken NV. Click here for more.