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State of Nigeria, African and global economies

Federal Government To Establish New ICT University

The Federal Government has concluded plans to establish the first Information  and  Communication Technology (ICT) University in Nigeria within the next three months. The Minister of Communications, Mr Adebayo Shittu, stated this on Tuesday  while featuring in a quarterly radio programme, Guest of the month, at the Federal Radio Corporation …

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Nigeria To Begin Rice Exportation

Prof. Bola Okuneye, an International Consultant, FADAMA III Additional Financing (AF), has said that Nigeria would begin exportation of rice in the next five years. Okuneye spoke on Wednesday at Amanuke,  Awka North Local Government Area of  Anambra, when the FADAMA III AF team visited its rice farmland to ascertain …

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Crude Oil Production Hits 2.1 Million Barrels Per Day – Ibe Kachikwu

Nigeria’s oil production is nearly back to normal following a sharp drop earlier this year due to rebels attacking pipelines, the oil minister said Tuesday. “The reality is that as of today and this morning, we are at 2.1 million barrels production. That’s substantial,” Minister of State for Petroleum Emmanuel …

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Nigerians In Diaspora Remit N26.9 Trillion To The Economy In Five Years

Nigeria is the largest recipient of remittances in Africa. N26.9 trillion is equivalent to Nigeria’s budget over 5 years. In five years, Nigerians in the diaspora remitted to the Nigerian economy S77.06 billion (about N26.9 trillion), according to the National Migration Policy report of 2015. The report was published for …

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Patronising Made In Nigeria: Nigerian Army Orders 50,000 Shoes From Aba Shoemakers

In furtherance of the federal government’s policy of ‘Buy Made In Nigeria’, the Nigerian Army has placed order for 50,000 pairs of shoes to be produced and supplied by young shoemakers in Aba, Abia State which will be used by its soldiers. Before now, the Army had been importing most …

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N500bn Government Intervention Fund: Senator Ndume Against Selecting Beneficiaries Online

Senate leader, Muhammad Ndume, on Sunday, objected to the use of on-line registration to select beneficiaries of Federal Government’s N500 billion Social Intervention Fund. Addressing newsmen in Maiduguri, Ndume, who represents Borno South at the National Assembly, observed that using internet registration for the programme would deprive many qualified Nigerians …

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Federal Government Allocates $10 Billion (N3.5 Trillion) For Infrastructural Development In Niger Delta

Nigeria launched a $10 billion infrastructure program on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next week in a …

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NNPC, Total To Consider Lifting Oil By Rail

The Nigerian National Petroleum Corporation (NNPC) and Total Nigeria Plc are considering the movement of petroleum products through the rail system in other to reduce the cost of transportation. This, they believed, is possible if plans by government to overhaul the rail sector becomes realistic. Speaking at the Oil Trading …

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