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How Nigeria lost top position in GDP to South Africa

How Nigeria lost top position in GDP to South Africa

South Africa’s economy has regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved in opposite directions. Based on gross domestic product at the end of 2015 published by the International Monetary Fund, the size of South Africa’s economy is $301 billion at the rand’s current exchange rate, while Nigeria’s GDP is $296 billion. That’s after the rand gained more than 16 percent against the dollar since the start of 2016, and Nigeria’s naira lost more than a third of its value after the central bank removed a currency peg in June.

SEC extends recapitalisation deadline for market operators

SEC extends recapitalisation deadline for market operators

The Securities and Exchange Commission, SEC yesterday disclosed that it has extended the recapitalisation deadline for Capital Market Operators (CMOs) and as well as the free registration of e- Dividend Mandate Management System (e-DMMS) exercise for investors to December 31st, 2016.

15 inmates escape from Nsukka prisons

15 inmates escape from Nsukka prisons

No fewer than 15 prison inmates serving different jail terms Tuesday night, allegedly escaped from Nsukka Prisons, in Enugu State scaling through the perimeter fence of the prison under the cover of darkness.

The military assault against  pipeline vandals

The military assault against pipeline vandals

Ongoing combined military and police action against pipeline vandals in the creeks of Arepo, Ogun State and parts of Ikorodu in Lagos State is another demonstration of the Federal Government’s determination to crack down on criminals wherever they congregate.

Anambra lawmakers tackle commissioner over alleged disrespect

Anambra lawmakers tackle commissioner over alleged disrespect

MEMBERS of the Anambra State House of Assembly on Tuesday put the state Commissioner for Commerce, Trade, Market and Wealth Creation, Mrs. Uzoamaka Ilobi on what could best be described as a hot seat on the floor of the house for allegedly insulting the state legislature.

FG committed to anti-tobacco campaign— Osinbajo

FG committed to anti-tobacco campaign— Osinbajo

Vice President Yemi Osinbajo (SAN) has reiterated Federal Government’s commitment to the reduction of tobacco use among citizens, particularly exposure of underage children to smoking.

FG revives NIOMCO

FG revives NIOMCO

THE first phase of the modified concession agreement between the Federal Government and Global Steel Holdings has commenced with the movement of geological experts and engineering staff of the National Iron Ore Mining Company, NIOMCO, Itapke, to site.