January 8, 2020

No fewer than 25 states of the federation have failed to meet the December 31, 2019, deadline given by organised labour to conclude all negotiations on the consequential adjustment arising from the N30,000 new minimum wage or face industrial unrest

Nigeria Labour Congress, NLC, had on December 31, 2019, in its New Year Message, directed its state councils to start preparing for industrial protest against defaulting governors.

It said:...

November 20, 2019

Mr John Mahama, Former President of Ghana on Tuesday appealed to the Nigeria Government to open up her border so that economic activities can resume in West Africa.

Mahama made the plea while delivering the 7th Anniversary Lecture, Investiture into The Realnews Hall of Fame and The unveiling of the Book: Pathways to Political and Economic Development of Africa in Lagos.

The title of the lecture is 'Beyond Politics: An Economic Narrati...

November 15, 2019

Indonesian Ambassador to Nigeria, Dr. Usra Hendra Harahap, said that the country is ready to strengthen bilateral trade cooperation with Nigeria, saying 16 Indonesian companies are coming into Nigeria with new technology.

Gov Makinde makes case for trade missions to Oyo by foreign countries(Opens in a new browser tab)

The ambassador also stated that both countries need each other to foster economic integration amongst them.

Harahap dis...

October 28, 2019

President Muhammadu Buhari will today (Monday) depart Abuja for Riyadh, the Kingdom of Saudi Arabia, to attend the third edition of the Future Investment Initiative (FII) organised by Saudi's Public Investment Fund (PIF).

Under the theme, "What's Next for Global Business?", the event, which holds from October 29-31, will focus on three key pillars: Sustainable Future, Technology for Good and Advanced Society.

The three-day event will...

October 21, 2019

The Minister of Finance, Zainab Ahmed, has revealed that the Federal Government has successfully secured the loan of $3 billion for the power sector.

Ahmed, disclosed this while addressing the press on the outcome of the just-concluded annual meeting of the World Bank and the International Monetary Fund (IMF).

She said the loan will be disbursed in four tranches and the first tranche will be disbursed in Apr 2020.

Ahmed disclosed that...

October 7, 2019

Following successful conclusion of the 9th Bi-National Commission of South Africa and Nigeria meeting in Pretoria, South Africa, which was elevated to the level of heads of state, both countries have agreed on issuing 10-year visas to businessmen, academics and frequent travelers.

According to the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu, the agreement was reached in a meeting co-chaired by Pre...

August 22, 2019

The Federal Government, Wednesday, disclosed that it was building power transmission line to link up some countries in the West African sub-region.

Speaking in Abuja at the 2019 participants/key stakeholders interactive forum organised by the Market Operator, the Managing Director of Transmission Company of Nigeria, TCN, Mr. Mohammed Gur Usman, stated that the project will take a 330KV electricity transmission line right from Nigeria...

August 14, 2019

There are indications that Nigeria's oil sales may be going through difficult times following the Donald Trump's new strategy to enthrone USA's dominance in the global oil market.

Both Nigeria and the United States are big producers of same light, sweet oil grades that are ideal for refining into gasoline.

But according to IHS Markit, a London based oil industry information company, though Europe has imported around 46 per cent of Nig...

July 31, 2019

The Chinese Ministry of Commerce has said that it has commenced the export of used cars to Africa, Asia and Europe, with Nigeria as one of the major destinations for the first batch of 300 cars.

China's Ministry of Commerce stated that it is an important move geared towards deepening implementation of the Belt and Road Initiative (BRI) and promoting the stable growth of foreign trade.

According to the Ministry, the BRI is a global dev...

May 13, 2019

The Director, Corporate Communications, Central Bank of Nigeria (CBN) Mr Isaac Okoroafor said that no money is missing or stolen from the bank's coffers as reported in some section of the media.

Okoroafor said this in a statement on Sunday while reacting to a recent article and audio clips in which the CBN Governor and other senior officials were heard discussing discrepancies in the bank's accounts.

Okoroafor said that the audio w...

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