economy’

2023 Corruption Is Ruining Nigeria, I Will End It – Obi

2023: Corruption Is Ruining Nigeria, I Will End It – Obi

September 20, 2022 6:55 am

The presidential candidate of the Labour Party, Mr. Peter Obi, has asserted that fiscal recklessness, inability to tackle insecurity and corruption have been primarily responsible for Nigeria’s failing economy.

Obi also said that domestic problems, caused by leadership failure, have damaged the unity and cohesiveness of the country.

The former Anambra State governor, made this known while speaking at the Private Sector Economic Forum organised by the Lagos Chamber of Commerce and Industry on Monday, said the government that would succeed the Major Gen. Muhammadu Buhari regime in 2023 would be confronted by an array of daunting challenges, both …

2023 Tinubu Will Transform Nigeria’s Economy – Hon Faleke

2023: Tinubu Will Transform Nigeria’s Economy – Hon Faleke

August 19, 2022 6:53 am

Ahead of the official commencement of the campaign, the Secretary general, All Progressives Congress (APC) Campaign Council, James Faleke, has asserted that the APC presidential candidate Asiwaju Bola Tinubu, will turn around Nigeria’s economy from import dependent to production based.

Faleke made this assertion when he received members of the APC National Integrity Movement (ANIM) who visited him on Friday in Abuja.

He expressed the strong belief that APC would win the 2023 presidential election, owing to the belief that the Tinubu/Shettima project was a project for all APC groups and party loyalists across the country.

Faleke pointed out that …

Nigeria’s Economy On The Verge Of Collapse - UNDP Report

Nigeria’s Economy On The Verge Of Collapse – UNDP Report

August 9, 2022 4:45 am

In the aftermath of a sharp decline in revenue and foreign exchange earnings in the country coupled with increased debt service payments, a United Nations Development Programme (UNDP) report on Nigeria has declared that Nigeria’s economy is presently wobbling and on life support.

According to the report that Africa Daily News New York obtained, on Monday which is expected to be made public on Wednesday, August 10, the COVID-19 pandemic has dealt a big blow to the economy coupled with a decline in revenue and foreign exchange earnings. This is because of the fall in oil prices and the reduced …

Nigerian Govt Moves To Halt Exportation Of Raw Minerals

Nigerian Govt Moves To Halt Exportation Of Raw Minerals

July 29, 2022 5:51 am

The Federal Government of Nigeria has revealed that it has now embarked on a move to end the exportation of raw minerals in the country to aid in the diversification of the economy, job creation, and industrialisation of the country.

Minister of Mines and Steel Development, Olamilekan Adegbite, disclosed this while briefing journalists in Abuja, today.

He lamented that Nigeria is up till now still exporting crude oil as traded for refined petroleum products.

He said the state would take advantage of the abundant solid minerals in their area to improve its revenue generation.

He said: ‘As we started …

US Economy Hits Contraction, Heightens Recession Fears

US Economy Hits Contraction, Heightens Recession Fears

July 28, 2022 4:48 pm

Businees reports have revealed that the United States economy has actually contracted for a second straight quarter between April and June thereby giving rise to more recession fears just months before key midterm elections in a blow for President Joe Biden.

Gross domestic product had also declined at an annual rate of 0.9 percent in the second quarter which came after a bigger drop in the first three months of the year, according to the Commerce Department. Two-quarters of negative growth is commonly viewed as a strong signal that a recession is underway, and a downturn in the world’s largest …

Nigerian Bread Bakers Mull Nation-Wide Withdrawal Of Service

Nigerian Bread Bakers Mull Nation-Wide Withdrawal Of Service

July 7, 2022 4:15 am

The Edo State Chapter of the Association of Master Bakers and Caterers in Nigeria has announced that it will participate in the proposed nation-wide withdrawal of service as directed by its national body in the coming days.

Mr. Benjamin Agbonze, Chairman of the association in Edo, made this disclosure during an interview with reporters in Benin on Wednesday, shortly after the monthly meeting of the association.

Agbonze asserted the withdrawal of service was necessitated by the incessant increment in the prices of baking materials in the country.

‘Our national body has directed that on July 13 to 27, we should …

Alleged $35,000 Bribes For Party Delegates Dangerous - Moghalu

Alleged $35,000 Bribes For Party Delegates Dangerous – Moghalu

May 31, 2022 4:10 am

A Presidential Aspirant on the platform of the African Democratic Congress (ADC), Prof. Kingsley Moghalu, has decried the money politics being played in Nigeria at the moment stating that doling out $35,000 allegedly to party delegates to sway their votes was a bad omen for the 2023 general elections.

In a statement on Monday which was sighted by Africa Daily News, New York the former Deputy Governor of the Central Bank of Nigeria (CBN), explained that what Nigeria needs at the moment is a modern, 21st century president instead of persons who just want to fulfill their lifetime ambitions, …

Nigerian Airlines May Shut Down In 3 Days, Onyema Warns

Nigerian Airlines May Shut Down In 3 Days, Onyema Warns

March 14, 2022 1:46 pm

Nigerian Airline operators have called on the federal government to grant them an operational license to enable them begin the importation of fuel, following the recent fuel scarcity across the country.

Speaking on Monday, the Chairman of Airpeace, Allen Onyema warned that Airlines in the country would shut down operations over the non-availability of Aviation fuel to run their operations.

‘We have only three more days, all airlines in Nigeria will shut down. We are not threatening this country, it is a fact’, Onyema said.

The Airpeace boss on Monday held spoke at a meeting of oil marketers and …

Nigeria Currently Diversifying From Oil – Osinbajo

Nigeria Currently Diversifying From Oil – Osinbajo

February 26, 2022 4:12 am

Vice President of Nigeria, Prof Yemi Osinbajo has stated that Nigeria currently in the process of diversifying from the oil sector so as to boost rapid economic growth through jobs.

The Vice President made this assertion when he spoke at the commissioning of the Kimberly-Clark Huggies Diaper Manufacturing Plant in Ikorodu, Lagos over the weekend.

While pointing out that seven million babies are born every year in Nigeria, Osinbajo expressed his pleasure that the factory signaled the beginning of greater investments.

‘Every new manufacturing plant is an important step towards our belief that it is private investments, both local and …

Nigeria's Poor Economy Responsible For Insecurity – Tinubu

Nigeria’s Poor Economy Responsible For Insecurity – Tinubu

March 27, 2021 11:39 pm

The National leader of Nigeria’s ruling party – the All Progressive Congress (APC), Asiwaju Bola Tinubu has declared that the nation’s economy is weak and it is responsible for insecurity and youth unemployment across the country.

He made the remarks on Saturday as the chairman of the 2021 Sardauna Annual Memorial Lecture held at Arewa House, Kaduna, Tinubu said the government should act fast by pumping funds into national projects and programmes to encourage employment.

According to the former Lagos Governor, the private sector is even worst for it, making it difficult for them to help the government get out …

Nigeria's Economy Will Be 21% Digital Driven By 2021 - Minister

Nigeria’s Economy Will Be 21% Digital Driven By 2021 – Minister

September 12, 2020 3:53 am

The Minister of Communication and Digital Economy, Dr Isa Ali Pantami, has predicted that the Nigerian economy would be 21 per cent digital come 2021, because digitalisation is becoming the most adopted economy globally.

The minister, while speaking at the Chartered Institute of Bankers of Nigeria’s (CIBN) 2020 Graduates’ Induction and Prize Award’s Day, said the COVID-19 pandemic has shown the importance of the digitalization in the growth of any nation’s economy.

Pantami noted that there has never been a more urgent time to fast track digital transformation in Nigeria, saying that the digital economy drive is aimed at …

Yoruba Leaders Decry State Of Nigeria, Warn Buhari On 2023

Yoruba Leaders Decry State Of Nigeria, Warn Buhari On 2023

July 24, 2020 12:57 pm

The Yoruba Summit Group on Thursday held a virtual meeting on the state of Nigeria.

The discourse centered on insecurity, COVID-19 pandemic fight, economy, resignations from the military, insurgency war, kidnapping, banditry, unemployment, corruption, etc.

In attendance were prominent elders and leaders including Ayo Fasoranti, Ayo Adebanjo, Banji Akintoye, Gani Adams, Segun Mimko, Kofoworola Bucknor-Akerele, Tokunbo Awolowo-Dosunmu, Yinka Odumakin, Tunji Alapini, Supo Shonibare, and many others.

They insisted that the nation is veering off precariously into a precipice, and restated demand for restructuring.

The group warned President Muhammadu Buhari that, “any attempt to go ahead with elections in 2023 without …

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