The Organised Private Sector Exporters Association (OPEXA) has appealed to the National Assembly (NASS) to urgently ratify the approval of the N375 billion Export Expansion Grants (EEG) for exporters. In a report, the News Agency of Nigeria notes that the N375 billion represents the backlog of the EEG from 2017 to 2020, whose payment was delayed due to budgetary constraints. The Federal Executive Council (FEC) recently approved the disbursement in form of Promissory Notes, which...
LAGOS — Sen. Gbemisola Saraki, Minister of State for Transportation, has called for Public, Private Partnership (PPP) to create an enabling environment for the African Continental Free Trade Agreement (AfCFTA) to thrive. Saraki made the call at the Ministerial Consultative Meeting with the media on Friday in Lagos. Saraki said her visit to Lagos was to take stock of the state of the two ports in Lagos, which were in dire need of repairs. “For...
The Federal Government has trained farmers on modern techniques of groundnut farming to make the crop serve as an alternative source to oil export. Yusuf Isma’il Idris, NEPC Adviser in Gusau, who revealed this at a one-day workshop for groundnut farmers held in Maru local government of Zamfara state, said the move is to ensure that Nigerian crops meet international standards. Idris also said the Federal government had earmarked one farm product per state across...
By Handel Patrick (Staff Reporter) AWKA — The Commissioner for Youth Development and Creative Economy Hon. Patrick Aghadinuno Mba has disclosed Governor Charles Chukwuma Soludo’s commitment and determination to create one thousand youth millionaires annually in Anambra state. Mba who made the disclosure during an exclusive interview with our correspondent at the Government House, Awka said the Governor’s commitment to creating one thousand youth millionaires annually in Anambra is clearly captured in the 2022 revised...
ABUJA — The Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES), has urged the 36 states of the federation and the Federal Capital Territory (FCT) to accelerate the implementation of the programmes. Prof. Foluso Okunmadewa, the World Bank, Lead Specialist, Social Protection, and Task Team Leader for NG-CARES, made the call at a two-day implemention status review meeting with States’ Coordinators on Thursday in Abuja. The News Agency of Nigeria (NAN) reports that NG-CARES is...
Minister of Finance, Zainab Ahmed, has called for the removal of fuel subsidy, saying the retention was hurting the economy and impeding investments in human capital development. Ahmed who spoke on Tuesday in Abuja at the launch of the Nigeria Development Update (NDU) 2022 report by the World Bank, said N4.5 trillion spent on subsidies would have been invested in health and education. NAN quoted Ahmed explaining that if subsidy was not in the budget,...
The Federation Account Allocation Committee (FAAC) has shared a total sum of ₦636.6 billion for April 2022 Federation Account Revenue with the Federal Government, States, and Local Government Councils. This was contained in a communiqué issued at the end of a virtual meeting of the Federation Account Allocation Committee (FAAC) for May 2022. The Federal Government received ₦257.6 billion, the State Governments received ₦201.2 billion and the Local Government Councils received ₦149.2 billion. The sum...
The National Bureau of Statistics (NBS), reports that the price of selected food items have increased in the last 12 months, with the price of a loaf of sliced bread and beans costliest in the South-East. This is according to the NBS Selected Food Price Watch Report for April 2022 released on Thursday. The report showed that the average price of 1kg of beans (white, black eye, sold loose) rose on a year-on-year basis by...
ABUJA — Nigeria’s Gross Domestic Product (GDP) has recorded 3.11 percent (year-on-year) in real terms in the first quarter (Q1) of 2022, according to the National Bureau of Statistics (NBS). This was disclosed in the latest report of the NBS published on Monday, the figure showed sustained positive growth for the sixth consecutive quarter since the recession experienced in 2020, when negative growth rates were recorded in quarters two and three of that year. “The...
ABUJA — Automobile experts have expressed optimism that Nigerians will be able to save about 40% of energy cost with the taking off of the Autogas conversion initiative which sought to convert ordinary PMS/gasoline vehicles to run on the LGP and LPG Gases. The Federal Government, through the office of the Minister of State for Petroleum Resources, Timipre Sylva, had in January 2022, said that Nigeria would begin the conversion of petrol-powered vehicles to Autogas...
