economy’

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 …

California Shuts The Bars As Coronavirus Cases Surge

California Shuts The Bars As Coronavirus Cases Surge

June 29, 2020 4:06 am

California ordered some bars to close on Sunday, the first major rollback of efforts to reopen the economy in the most populous U.S. state as novel coronavirus cases nationwide soar to record levels day after day.

Governor Gavin Newsom’s order for bars to close in Los Angeles and six other counties followed moves by Texas and Florida to shut all their bars on Friday.

Public health officials in California and throughout the United States have identified bars as the riskiest non-essential businesses currently open.

Consuming alcohol reduces inhibitions, which leads to less mask-wearing and social distancing, health officials warn.

Patrons …

Trump Calls For Quick End To US Coronavirus Lockdown

Trump Calls For Quick End To US Coronavirus Lockdown

March 24, 2020 5:01 pm

President Donald Trump announced Tuesday he wants to loosen the coronavirus lockdown in the United States and restart the economy within three weeks, calling social distancing measures too disruptive.

“A lot of people agree with me. Our country — it’s not built to shut down,” he said on Fox News. “You can destroy a country this way by closing it down.”

“I would love to have the country opened up and just raring to go by Easter,” said Trump. Easter is on April 12, 19 days away.

Social distancing and quarantine measures have been instituted across much of the United …

war Syria's Brutal War Enters 10th Year

Syria’s Brutal War Enters 10th Year

March 15, 2020 5:31 pm

Syria’s brutal conflict enters its 10th year Sunday with President Bashar al-Assad’s regime consolidating its hold over a war-wracked country with a decimated economy where foreign powers flex their muscle.

When Syrians took to the streets on March 15, 2011, they could scarcely have imagined their anti-government protests would turn into a complex war entangling rebels, jihadists and outside forces.

At least 384,000 people have since died, including more than 116,000 civilians, the Syrian Observatory for Human Rights war monitor said Saturday.

The conflict has displaced more than 11 million people internally and abroad.

“Nine years of revolution illustrate the …

Typhoon Hagibis killed more than 100 people and caused widespread flooding in October

Japan Suffers Worst Economic Slump In Five Years

February 17, 2020 1:07 pm

Japan has suffered its worst quarterly GDP contraction in more than five years, with a tax hike and a deadly typhoon taking a toll on the world’s third-largest economy.

The nation’s gross domestic product in the three months to December shrank 1.6 percent from the previous quarter, even before the novel coronavirus outbreak in China hit Japan, according to official data published on Monday.

The quarter was marked by a rise in consumption tax from eight percent to 10 percent, as well as Typhoon Hagibis, which killed more than 100 people and caused widespread flooding.

Economists were braced for a …

2020: Economy Set To Ride On Non-Oil Sector For Growth

December 29, 2019 7:04 am

The prospects for economic growth in 2020 seem bright, but the growth is expected to be fragile. As it was the case in 2019, non-oil sector driven by agriculture, ICT and manufacturing among others, will deliver the expected result, writes Bamidele Famoofo

The economy is expected to expand beyond the record achieved in 2019. Economic experts have predicted a modest 2.25 percent GDP growth for the economy in 2020, noting that key driver of growth in the fiscal year would be the non-oil sector. The non-oil sector continued to keep overall GDP afloat for much of 2019, having supported overall …

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