*Digital economy presents great opportunities for MSMEs — SMEDAN By Yinka Kolawole, Elizabeth Adegbesan & Prince Okafor The Federal Government has said it would partner relevant stakeholders to ensure that Nigeria’s Micro, Small and Medium Enterprises (MSMEs) become globally competitive. Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum, stated this at the […]

The Naira on Thursday appreciated after a three-day loss against the dollar at the Investors and Exporters window, exchanging at N430.67. The figure represented an increase of 0.08 per cent, compared with N431 it exchanged for the dollar on Wednesday. The open indicative rate closed at N429.75 to the dollar on Thursday. An exchange rate […]

By Nkiruka Nnorom International Breweries Plc (IBPlc) has indicated that it is evolving strategies to sustain the positive earnings it achieved in 2021 as well as grow its share of the beer market. The chairman, HRH Nnaemeka Achebe, gave the hint at the company’s 45th Annual General Meeting (AGM) in Lagos, saying that IBPlc has […]

…as Nigeria seeks $10bn package By Udeme Akpan THE Federal Government, yesterday, launched a plan, seeking to raise $10 billion for Nigeria’s energy transition. Speaking at the launch in Abuja, Vice President Yemi Osinbajo, said the plan was a decisive action, which the nation cannot afford to delay. He also said Africa’s increasing energy gaps […]

…As credit to economy hits N60trn By Elizabeth Adegbesan Data from the Central Bank of Nigeria, CBN, has shown that Federal and state governments’ borrowings from commercial banks increased Month-on-Month, MoM, by 11 percent to N20.1 trillion in July 2022, from N18.04 trillion in June. The data titled, ‘Money and Credit Statistics’ also shows that […]

By Emeka Anaeto, Babajide Komolafe & Godwin Oritse IN bid to boost the nation’s foreign exchange (forex) earnings, the Nigerian Ports Authority, NPA, has started driving exports, creating ten specialized export processing terminals across the country. Speaking to Vanguard in Lagos the NPA’s Managing Director, Mr. Mohammed Bello-Koko, said that about three of the approved […]

By Peter Egwuatu The total transactions done by domestic investors on the floor of the Nigerian Exchange Limited (NGX) grew to N1.49 trillion as against N273.16 billion recorded by foreign investors in the first seven months of 2022. According to the Domestic and Foreign Portfolio Investment (FPI) July 2022 report which captured these transactions as […]

By Rosemary Iwunze The National Pension Commission (PenCom) said it is committed to ensuring the safety of pension funds, stating that adequate structures have been established in this regard. Speaking at the 2022 Workshop organized by PenCom for journalists in Lagos, Director-General of PenCom, Mrs. Aisha Dahir-Umar, said it is taking strategic steps to encourage […]

By Obas Esiedesa, Abuja The Director General of the Securities and Exchange Commission, SEC, Mr. Lamido Yuguda, has explained that it was too early to measure the impact of the reinstatement of tax rebate on corporate bond investment. Briefing journalists on the outcome of the 2nd virtual capital market committee meeting, Yuguda explained, “for any […]

By Godwin Oritse The Nigerian Ports Authority, NPA, generated a total revenue of N172.3 billion from its operations in the first half of 2022, H1’22. It also remitted N78.5 billion to the Consolidated Revenue Fund, CRF, of the Federation during the period. These were contained in the half-year 2022 operational reports of the Authority where […]