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Economy

State of Nigeria, African and global economies

Federal Government to reduce income tax of small businesses

The Federal Government plans to reduce the income tax being payed by Small, Micro and Medium Enterprises (SMMEs) in the country to encourage more start-ups in the sector. A statement by the Federal Ministry of Finance on Thursday said the gesture was also to boost profitability of existing ones, generate …

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Nigeria is already getting out of recession – Finance Minister, Kemi Adeosun

Mrs Kemi Adeosun, the Minister of Finance, on Wednesday said that the nation was already getting out of recession, saying the Federal Government had taken steps that were in the best interest of the citizens. Adeosun disclosed this in her closing remarks at a two-day conference of National Council of …

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Economic Recession: Nigeria Has $200bn Aviation Infrastructure Deficit

Nigeria’s current infrastructure deficit is estimated to be in excess of $200 billion, Chief Executive Officer, Bi-Courtney Aviation Services Limited, operator of the ultra-modern Murtala Muhammed Airport (MMA2), Capt. Jari Williams, has said. Williams, who quoted the Infrastructure Concession Regulatory Commission (ICRC), spoke at a conference on privatisation/concession of Nigerian …

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Economic Recession: Sale of National Assets is Short-Sighted and Unsustainable – CENGSSUD

The Centre for Global Solutions and Sustainable Development (CENGSSUD), strongly oppose the proposed sales of National asset to fund 2016 budget and sustain the foreign reserve. The call is not only short-sighted, but unsustainable. While we sympathise with the Federal government on the unstable economic situation it has found itself …

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Economic Recession: Arewa Consultative Forum Kicks at the agitation to sell off National Assets

The Arewa Consultative Forum (ACF), on Monday urged the Federal Government to drop the plan to sell-off major national assets to tackle the nation’s economic recession. The ACF said in a statement issued in Kaduna by Muhammad Ibrahim, its National Publicity Secretary, that selling strategic, viable national assets to take …

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Nigeria is determined to be self sufficient in food production, says President Muhammadu Buhari

Nigeria has the people and the resources to surmount her economic problems, President Muhammadu Buhari has assured. Receiving President of the African Development Bank, ADB, Akinwunmi Adesina, at State House, Abuja, on Monday, President Buhari said: “God has given us people and resources. It will take hard work on our …

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Economic Recession: Nigeria In Talks To borrow $1 Billion (N350 billion) From AfDB

Nigeria is in talks with the African Development Bank (AfDB) for a $1 billion loan to help cover its 2016 budget deficit, the finance minister, Kemi Adeosun said on Monday. She said the loan would be concessionary  and carry an interest rate of 1.2 percent. “We are talking with AfDB for a …

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Economic Recession: Nigeria Has Liquidity Problem, Not Debt Problem – Dr. Akinwumi Adesina

The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has dispelled the fears being expressed in some quarters about the country being in debt crisis. He made the clarification while addressing State House Correspondents after a delegation of the bank met with Vice President Yemi Osinbajo and the …

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Abuja to host conference on African Economy, sponsored by AfDB, ECA and UNDP

Nigeria is to host the forthcoming “African Economic Conference (AEC) 2016” designed to brainstorm on the current economic policies on the continent. The conference which would hold in Abuja from December 5 to December 7, has as its theme, “ Feeding Africa: Towards Agro-Allied Industrialization for Inclusive Growth’’. It is …

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