Economy exits contraction but households remain pessimistic — CBN
•As PMI rebounds to 50.1pts •Business confidence moderates to 7.2pts •Households shun houses, cars, investments •Food remains top spending priority By Babajide Komolafe Nigeria’s economy exited contraction in June as the Purchasing Managers’ Index, PMI, rebounded to 50.1 points from 49.6 points in May, driven by sustained expansion in the agriculture sector despite continued weakness […]
Economic reforms create opportunities despite short-term pains — Akabueze
•Says RCCG Economic Summit targets clarity on reforms, investments By Babajide Komolafe Economic reforms currently being implemented by the Federal Government, though painful in the short term, are laying the foundation for sustainable growth and long-term investment opportunities, Pastor Ben Akabueze, former Director-General of the Budget Office of the Federation, has said. Akabueze made the assertion […]
Truckers warn Lagos extortion crippling port logistics, petition Presidency
By Godwin Oritse The Council of Maritime Transport Unions and Associations (COMTUA), owners of articulated trucks on Nigerian roads, has petitioned President Bola Tinubu over what it described as the failure of the Lagos State government to protect truckers and other road users from widespread extortion, harassment and intimidation by organized street urchins. In a petition […]
FG threatens to withdraw licenses of dormant oil blocks
By Udeme Akpan & Sebastine Obasi The Federal Government is set to revoke the licenses of some oil blocks in the country over delays in development of the oil blocks by the license holders. Confirming this yesterday at the Licensing Round Pre-bid Conference in Lagos, Minister of State, Petroleum Resources, Heineken Lokpobiri, added that there will be […]
Why many Nigerians choose non-interest banking – Summit Bank CEO
In this interview with Emeka Anaeto, Business Editor of Vanguard Newspaper, the Managing Director of Summit Bank Limited, Dr. Sirajo Salisu, gave insight into the operations in the sub-sector
Sterling Bank, FBN, Ecobank, 21 others reach recapitalisation goal
By Nkiruka Nnorom In an evolving development, 23 Nigerian banks, including Sterling Bank, First Bank of Nigeria (FBN), and several others, have successfully met the new capitalisation requirements set by the Central Bank of Nigeria (CBN). The accomplishment is a significant step toward strengthening the resilience of the country’s banking sector, which is critical in […]
