Abia to Partner with CBN on Accelerated Agricultural Programme Governor Okezie Ikpeazu has described agriculture as a viable tool that can end the unemployment challenge of the country by creating jobs for the army of unemployed, put food on the tables of Nigerians and cause rapid economic development. The Governor stated this when the Development Financial Director, of the Central...... read more
Nigeria’s GDP records decline in Q3, Q4 2016 The National Bureau of Statistics (NBS) says the Gross Domestic Product in real terms declined in the third and fourth quarters of 2016. The NBS made this known in its “Nigerian Gross Domestic Product Report on Expenditure and Income Approach for the third and fourth quarter of 2016 released in Abuja....... read more
4 firms stake N120.5m for Nigerian Mining Corporation subsidiaries Four firms have staked N120, 547,000 to purchase the assets of the subsidiary companies of Nigerian Mining Corporation (NMC). According to the second round financial bids results released by the Bureau of Public Enterprise (BPE), in Abuja yesterday, for five subsidiaries of NMC, Yusuf Mariri Trading Company staked N20,550,000 on Kujama Quarry,...... read more
FG Begins Disbursement of GEEP Loan in Abia The Federal Government has began the disbursement of the Government Enterprise and Empowerment Program,GEEP, loan in Abia.  The loan is a collaboration of the office of Vice President, Bank of Industry and Abia State government.  Uzoma Nwagba, Chief Operating Officer GEEP at the event noted that 2907 loans have been disbursed...... read more
Ikpeazu: Why I took Made-in-Aba to New York City Abia State Governor, Dr Okezie Ikpeazu who is known for his persistency in the promotion of Made in Aba, has explained why he took Made in Aba campaign to New York City. Ikpeazu in an interview with Iheanacho Nwosu of The Sun, explained that the success of the Abuja fashion show which...... read more
The Debt Debate: Deconstructing the debt story National debt is an emotive issue as well as an economic one. The thought of saddling future generations with unserviceable debt, is not conscionable and certainly not part of the President Muhammadu Buhari-led-administration’s agenda. It is therefore, worthy of an intervention on my part to explain the history, the short-term strategy...... read more
Abia state to benefit from RAMP project The task-team of Rural Access and Agricultural Marketing Project(RAMP), a project supported by the World Bank, French Development Agency and Agricultural Development Bank has confirmed that Abia State has met all the criteria needed for the project to be carried out in the State. This was disclosed by Ahmed Olotaji, the...... read more
CBN Reacts To Claims Of Overfunding FG The Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, has defended the Bank's funding of the federal government through quantitative easing. Emefiele noted that there was no substance in the claim that the central bank was overfunding the government, on the one hand, and mopping up liquidity through special auctions, on...... read more
Julius Berger recorded N3.8bn loss in one year – Sunmonu, Berger Board Chairman Julius Berger Board Chairman, Mr. Mutiu Sunmonu has said that Julius Berger recorded a loss of N3.8 billion in 2016 financial year as a result of the country’s economic recession and the devaluation of the nation’s currency which paralysed most projects last year. This represents a 256.4 percent decline compared to...... read more
VIDEO: Abia is not borrowing from Islamic Bank- Obinna Oriaku Abia state Commisioner for finance, Obinna Oriaku says the state is not borrowing from Islamic Bank. Oriaku disclosed this in an an exclusive interview with Factnewsonline. He added that the Federal Government is taking the loan on behalf of the state. Watch Video below...... read more
Aba is the home of made in Nigeria-Speaker Dogara Speaker of the Federal House of Representatives, Rt. Hon. Yakubu Dogara, has described Aba as the home of made in Nigeria brands. He made the statement while paying courtesy visit to Abia state Governor, Dr Okezie Ikpeazu, at the Governor's lodge at Aba in Abia State. In his address to the...... read more
'Don't borrow to build Airport, Engage Nigerian Capital market,' Peter Obi tells FG Mr. Peter Obi, ex-Governor of Anambra State, says Federal Government need not to borrow from China to fund airport, insisting that financing such project should be done through the Nigerian capital market. In a report by Vanguard, the former governor also stressed the need for government to come out with regulations...... read more
CBN Injects $186.5m for Invisible and SMEs segments Following the conclusion of the Monetary Policy Committee Meeting on Tuesday, May 23, 2017 the Central Bank of Nigeria (CBN) has injected the sum of $186.5million into the invisible and the whole Wholesale Secondary Market Intervention Sales (SMIS) segments of the forex market. The sum is made up of $36.5 million...... read more
Nigeria to Exist Recession In September - Emefiele The Central Bank Governor, Godwin Emefiele, on Tuesday, says  Nigeria's economy will be out of recession by the end of the third quarter of 2017. While speaking in Abuja, Emefiele stated that there are existing positive signs in various economic sectors nad he is confident that recession will be history by...... read more
Kemi Adeosun Approves new interest rate on unpaid Taxes Mrs Kemi Adeosun, the Minister of Finance has approved a new interest rate spread on unpaid taxes for the year 2017. Adeosun explained that Section 32 (1b) of the Federal Inland Revenue Service (Establishment) Act 2007 empowers her to approve the new interest rate. The Minister said the review of the...... read more
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