Sunday, January 20, 2019
FINANCIAL WATCH: Cashew nut farming earns Nigeria $402m in 2017 - The National President, National Cashew Association of Nigeria, NCAN, Tola Faseru,  has disclosed that the production of the commodity has increased from  about 90,000 metric tonnes in 2011 to ...
CCNN Cement records N7.605b profit in 2017 - The Cement Company of Northern Nigeria (CCNN) has recorded gross profit of N7, 605, 209, 592 in the 2017 financial year despite numerous challenges. Executive Chairman/CEO of BUA Group, Abdul Samad Rabiu who...
Nigeria’s Total Import Value Up 8.04% in Q1 2018 - The National Bureau of Statistics, NBS, in its latest report, revealed that Nigeria’s total imports value grew 8.04 percent to N2.52 billion in the first quarter (Q1) 2018 from N2.33...
MAN says over 10,000 manufacturing jobs lost in 2017 - A total of 5,212 jobs were lost in the manufacturing sector in the second half of 2017, bringing the total for the year to 10,291, a new survey released by...
Nigeria’s External Reserves Shrinks by 12.12 percent, Drops to $41.995 billion - Nigeria’s external reserves fell to $41.995 billion at the end of October, representing a decline by $5.793 billion or 12.12 per cent, compared with the $47.788 billion it...
Nigeria Leads Africa in Remittances Inflow - The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said Nigeria tops other African countries in remittances inflows and is among the top five globally. He did not give a figure,...
3,000 farmers to benefit from Feg Agro, FG rice farming programme - About 3,000 rice farmers in the South West of Nigeria will be benefitting from a programme organized by Feg-Agro Farms Nigeria Limited in partnership with the Federal Government. According...
NBS: Nigeria’s Unemployment rate dropped by 1.1% in Q1 2018 - Unemployment in the country reduced by 1.1 per cent in the first three months of this year, data obtained from the National Bureau of Statistics on Friday showed. According to...
CBN says Direct investments into Nigeria dropped 15.7% in Q1 2018 - Direct investments into Nigeria in the first quarter of 2018 declined by 15.7 per cent to about $808.56 million, the Central Bank of Nigeria (CBN) said in its...
Nigeria’s outlook for 2018 remains challenging on low private sector lending – The International Monetary Fund (IMF) says Nigeria’s economic outlook for 2018 remains challenging as private sector lending remains low and foreign exchange inflows mostly short-term. This is despite...
NIRSAL acquires 10,000 hectares for wheat farming in Jigawa - In a bid to boost wheat farming activities, the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has acquired 10,000 hectares of land in Jigawa. The NIRSAL National Coordinator, Wheat...
185,000 unemployed youth to access CBN loans nationwide ― Argungu: The Director General, National Directorate of Employment (NDE), Dr Nasiru Mohammed Ladan Argungu, has revealed that 185, 000 unemployed persons are to benefit from the Central Bank of Nigeria Agri-Business...
How NNPC, Finance Minister withdrew $3.12b from NLNG account – CBN: Twenty-two withdrawals totalling $3.12 billion were made from the Nigerian Liquefied Natural Gas (NLNG) dividends account domiciled in the Central Bank of Nigeria (CBN) in the last three years. This...
CBN Eyes Payment Service Banks in Rural Areas to Boost Financial Inclusion - As part of efforts to promote financial inclusion and enhance access to financial services for low income earners and the unbanked, the Central Bank of Nigeria (CBN)...
Buhari appoints new CBN deputy governor, others - President Muhammadu Buhari has confirmed the appointment and re appointment of some heads of parastatals. This was disclosed in a statement issued by Olusegun Adekunle, Permanent Secretary (General Services Office), Office of the...
FINANCIAL WATCH: Banks’ credit to Nigeria’s economy declines by N136bn in Q1 2018 – NBS: The total credit from banks to the economy recorded a decline of N135.8bn from N15.74tn at the end of the fourth quarter of last year...
Nigeria’s foreign debt rises by 17% H1’18 to $22.1bn - The National Bureau of Statistics (NBS), in a recent report said that Nigeria’s foreign debt at the end of the first half of 2018 (H1’18) stood at $22.08 billion. This...
CBN Supplies $210 million to Inter-bank Forex Market - The Central Bank of Nigeria (CBN) Wednesday intervened in the interbank foreign exchange market by injecting the sum of $210 million into the market. The central bank offered the sum of $100...
BREAKING: Food importation to Nigeria crashes by 60% - Nigeria has succeeded in reducing the importation of food items by 60 per cent from 2015 to date, the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, reported. Emefiele said...
Increase in Crude Oil Prices to Raise Nigeria’s Economy By 2.3% in 2019 - The International Monetary Fund (IMF) has upgraded the growth rate forecast for Nigeria’s Gross Domestic Product (GDP) in 2019 to 2.3 per cent while retaining 2.1...
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