Tesla became the latest US tech giant to hit $1 trillion in market value Monday as investors cheered a large order from Hertz and shrugged off criticism from a US auto safety official. Shares of Elon Musk’s company finished at $1,024.86, up 12.7 percent and topping $1 trillion for the first time. “Wild $T1mes!” Musk said […]
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President Muhammadu Buhari said on Tuesday his administration’s focus on job creation, policy consistency and innovation stimulated a 5.1 percent growth of the economy in the second quarter of this year. The National Bureau of Statistics (NBS) had last week announced a 5.1 percent growth in the Gross Domestic Product (GDP) in the second quarter […]
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A former Governor of the Central Bank of Nigeria (CBN), Muhammad Sanusi, has said 35 years of progress in the country has been wiped out. According to him, there is a need to ensure that Nigeria records growth in its economy. Sanusi stated this on Saturday at a colloquium to mark his 60th birthday. The […]
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The Asset Management Corporation of Nigeria (AMCON) has revealed that 350 debtors account for over N2.053 trillion, which is more than 70 percent of the total outstanding bank loans. Ahmed Kuru, Managing Director of the corporation disclosed this on Monday at the 2021 retreat of the Senate Committee on Banking Insurance and other Financial Institutions […]
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Mr Osinbajo, made this remark in Abuja on Friday at the inaugural meeting of the National Poverty Reduction with Growth Strategy Steering Committee held at the Presidential Villa.Vice President Yemi Osinbajo [Photo Credit: Twitter] Mr Osinbajo, made this remark in Abuja on Friday at the inaugural meeting of the National Poverty Reduction with Growth Strategy […]
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The Nigerian bourse continues to appreciate as investors gained over N140 billion at the end of Wednesday’s trading after the market capitalisation ended with N19.76 trillion. This is 0.71 percent growth when compared to the N19.62 trillion reported as equity capitalisation on Tuesday. The All Share Index appreciated to 37,907.28 ASI at the end of trading on […]
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The Nigerian Extractive Industry Transparency Initiative (NEITI) has revealed how Nigeria lost an estimated $2.8 billion in oil revenues in 2019. This was stated in its most recent oil and gas industry audit report. The losses, according to the group, were caused by oil theft and pipeline sabotage. When calculated, the losses amounted to N851 billion at […]
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Nigeria’s Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq, says the Federal Government has spent $5 billion to fight poverty in the country since 2016. The Minister who was represented by the National Coordinator of NSIP, Umar Bindir, described as factual the data referenced in the President’s Democracy Day address, which […]
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The Lagos Chamber of Commerce and Industry (LCCI) has warned that the suspension of Twitter’s operations in Nigeria would cause collateral damage to the nation’s economy. Specifically, its Director-General, Dr. Muda Yusuf said many businesses, especially Small Medium Enterprises (SMEs), leverage the micro-blogging social media platform for marketing and other promotional activities. However, he noted that the […]
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The National Petroleum Corporation (NNPC) has reportedly approached the African Export-Import Bank (Afreximbank) for financial support to acquire a stake in Dangote Refinery. NNPC is soliciting for $2.5 billion to finance its stake acquisition in Africa’s largest refinery and the world’s largest single-track refinery which is scheduled to commence operation next year. The corporation had […]
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