Nigeria needs insertion of protocols, guidelines before signing AfCTA – Chizea

A management consultant and banking expert, Dr. Boniface Chizea, has charged the Federal Government to ensure that well informed protocols and guidelines are enshrined in the African Continental Trade Agreement (AfCTA) before its endorsement in order to guarantee that pact does not impact negatively on the nation’s economy. Chizea, who gave the advice in an […]

Economic diversification drive may support tuber production – Report

The drive for economic diversification in the country is likely to see more emphasis being put on the production of agricultural products, especially tubers like cocoyam. According to the Financial Derivatives Company (FDC) Commodity Update for the period ended August 28, made available to our correspondent today (Wednesday), Nigeria is the world’s largest producer of […]

Haulage costs up 400% as Apapa gridlock hampers business

The transportation (haulage) cost of moving cargo from the Apapa Lagos ports to the hinterland, including intra-city, have rising significantly over the past six months as the Apapa traffic gridlock now makes it difficult for trucks to do normal rounds of haulage. Investigations by our correspondent indicated that it now takes between six and eight […]

Nigeria squandered $1tn earned in 5 oil booms – Report

The profligacy of the federal government over time has caused the country judicious use of about $1 trillion it earned from its production and sale of crude oil in five different oil booms, which it could have deployed to develop and diversify its economic base, a report titled ‘’Stabilising Nigeria’s Volatile Economy” has disclosed. The […]

Customs, Finance Ministry, others rank low on transparency

The Federal Ministries of Finance, Power, Works and Housing and the Nigeria Customs Service have been rated the least transparent among government Ministries, Departments and Agencies (MDAs) in Nigeria. According to a report released by the Presidential Enabling Business Environment Council (PEBEC), the exercise tracked the performance of 46 MDAs based on their level of […]

Beggarly parasites: The growing bane of Nigerian urbanities

They are on the streets, at every nooks and crannies, on the major roads, under the bridges, in shanties, in the traffic, you can’t miss them. They come in different faces, colour and caliber, age and sex is no barrier, and you see them with little children, twins and triplets. Many even pretend to be […]

Shutting out the crowd

Ibrahim Ahmadu is a farmer who lives in Gujeni community in Kaduna State. He is worried that he cannot go to the bank like his friends in other villages because there is no bank in Gujeni “Gaskiya, there is no bank here,” Ahmadu said. The location of the bank is far from our village. After […]

BudgIT puts Nigeria’s yearly loss to gas flaring at N2.5bn

BudgIT, a civic organization that applies technology to intersect citizen engagement with institutional improvement, to facilitate societal change, today reported that Nigeria loses N2.5 billion yearly to gas flaring. The organization advised the Federal Government to deal with the menace frontally in view of its negative implications for the nation’s environment, people’s health and revenue […]

Why Nigeria’s FDI inflows remain low – Report

A leading financial research and consulting firm, Financial Derivates Limited (FDC) has projected that current efforts by the fiscal authorities to boost foreign direct investment (FDI) may be seriously undermined by a combination of negating factors in the country. The research firm, in its latest Monthly Economic Update report, noted that Nigeria’s inability to attract […]