Nigeria Economy news

Managing Director, Edo City Transport Service Limited (ECTS), Mrs. Edugie Agbonlahor has said plans by the state government to build modern bus terminals in Benin City, would facilitate the development of an integrated transport system for the state’s mass transit scheme.
Edo commissioning 75 airconditioned intracity buses in Benin
Agbonlahor disclosed this during an interview with journalists in Benin City, Edo State capital.
She disclosed that the adoption of cashless payment system and

Anti-corruption authorities in Latvia arrested the governor of the country’s central bank, Ilmars Rimsevices, the government said on Sunday, but there is “no sign of danger” to the financial system.
Rimsevices, who was appointed governor in 2001, was detained by officers from the Corruption Prevention Bureau (KNAB) on Saturday and questioned for seven hours before being taken to another location on Sunday, according to a journalist from the Baltic News Agency (BNS).
Local media

The National Chairman of the All Progressives Congress ( APC ), Chief John Odigie-Oyegun, on Saturday called on Nigerians to shun those casting aspersions on President Muhammadu Buhari’s administration and the party.
Oyegun made the call at a grand rally to welcome People’s Democratic Party ( PDP ) members who defected to the APC on Saturday in Lokoja.
The National Chairman said the President was God sent to heal the wounds of Nigerians adding that his administration has ma

By Lekan Bilesanmi
The prestigious Base Centre in Enugu, on 8 February, was the focal point of members of the business community in Enugu State. The occasion was the hosting of the Voluntary Assets and Income Declaration Scheme (VAIDS) by the Enugu State Government.
Kemi Adeosun
In attendance was the governor of the state, Mr. Ifeanyi Ugwuanyi, who was accompanied by members of the state Executive Council, Speaker and Deputy Speaker of the House of Assembly, other top government functionaries an

By Lekan Bilesanmi
Dr. Ope Banwo, a lawyer, author, entrepreneur and internet business consultant, is a strong force in the entertainment industry.
A US based legal practitioner, Banwo is back in Nigeria with Nollycoin to help the Nigerian movie industry. With Nollycoin partnering with Nollywood, he explains, in this interview, an avenue is unlocked for stakeholders to make mega money via quality movie production.
The Nollycoin idea is an advanced technology that movie makers in Nigeria can bene

By Emma Ujah, Abuja Bureau Chief
Some critics of the Buhari administration have expressed concerns over the growing debt of the Federal Government, especially the part incurred through foreign loans.
However, in this interview, the Director-General of the Debt Management Office, Patience Oniha, explains that strategies have been put in place to avoid a repeat of the debt trap from which the 2005 Paris Club deal under former President Olusegun Obasanjo extricated Nigeria.
•Oniha, DG, DMO
Exc

By Nelson Utip
It is a known fact that Akwa Ibom State is the highest crude oil producer today and by extension the largest contributor to the petrodollar that sustains Nigeria. This is made possible by the relative peace the state enjoys when viewed against other parts of the country who are great beneficiaries of the resources.
Recently, the All Progressives Congress, APC, in its usual confusion, desperation, and panic had set up a committee headed by Gov. Nasir El Rufai to look at the restruc

Tofarati Ige
It is advisable to have multiple streams of income but not everybody is lucky to have varied sources of revenue. You can still live well with one stream of income
Track your expenses
It is very important to be able to monitor your money inflows and outflows. Without knowing this, you will never be able to recognise where you are going overboard on spending. This way, you can cut some expenses if you see that, for example, a third of your income goes to meaningless eating out.
Make a

Okechukwu Nnodim
The World Bank Group has expressed its willingness to assist the Federal Government’s Power Sector Recovery Programme with $2.6bn.
According to the Federal Ministry of Power, Works and Housing, the financial intervention from the bank for the PSRP would help to fully fund historical and future deficits in the power sector.
The PSRP is a series of policy actions, operational, governance and financial interventions to be implemented by the Federal Government over the next fi

Jonathan Majin, 22, is the Chief Executive Officer of Younix. In this interview with FEYISAYO POPOOLA, he speaks about his experience as an entrepreneur, the challenges and how he has been able to overcome them.
What is Younix all about?
Younix is a sports enrichment company that aims to develop the sports industry in Nigeria.
What motivated you to start your own business?
A variety of things were responsible. I believe that the most important thing about new business is adding value, either doi

Joy MarcusStephanie Obi, 31, is the Chief Executive Officer of ST HUB, an online education business company. She speaks about her careerWhat stirred your interest in technology?
I have always been surrounded with technology. My mother bought computers for me and my siblings when we were in secondary school and this stirred my interest. I was intrigued by how computers work and that led me to study Computer Science. While in school, I became interested in how technology can be used as a tool to h

Ifeanyi Onuba
Many Nigerians are still paying far above N145 per litre pump price of petrol approved by the Federal Government for the product, a report of the National Bureau of Statistics has indicated.
The NBS in its Premium Motor Spirit (petrol) price watch for January stated that on the average, Nigerians paid the sum of N190.9 per litre for the product.
This is about N46 per litre higher than the official pump price of the product.
The report, a copy of which was made available to our corr

Experts have stressed the role of social protection schemes in the quest to reduce poverty. In this report, IFEANYI ONUBA examines how Nigeria can leverage this option to protect the poor and vulnerable
From official statistics, Nigeria is the seventh most populous country in the world with over 192 million people in 2017. The country is expected to grow to more than 233 million by 2025. Without careful planning, the projected population growth will yield various social problems which could hamp

Nike Popoola
The Executive Director, Centre For Pension Right Advocacy, Ivor Takor, says that the Contributory Pension Scheme has compelled employees and employers in the public and private sectors to collectively save a minimum of 18 per cent of each worker’s monthly emolument into the employee’s Retirement Savings Account as part of their retirement benefits.
He also said that it was necessary to sustain the gains of the CPS, which had helped to increase national savings.
“Th

Chukwuemeka Fred Agbata Jnr. (CFA)
The presentation of the President of France, Emmanuel Macron, at the recently concluded World Economic Forum in Davos, Switzerland, is truly forward-thinking.
He emphasised the route the French government and people intended to go when he stated, among other good initiatives, that the French government would make innovation the centrepiece of the economy of France, with massive investments in research and development.
He did not stop there. He went on to say th

Peter Ndegwa is the Managing Director/Chief Executive Officer of Guinness Nigeria Plc. He speaks on the future of the company and its commitment to serving the Nigerian market. STANLEY OPARA was there
Nigeria is said to be on the path of growth after its exit from economic recession. Has Guinness Nigeria seen any improvement in its business so far?
Certainly, there is no doubt that a number of areas have improved. First is the availability of liquidity on the foreign currency side especially for

Uber has announced it is to set up a 24-hour hotline for UK customers and will proactively report incidents to the police, a day after London’s transport authorities announced plans for tighter controls on private hire firms.
The move also comes ahead of a court of appeal hearing where Transport for London will seek to demand that private hire operators should have a phone line – a regulation quashed by judges after Uber forced a judicial review of taxi regulations in 2016.
The Guard

Fresh troubles in Kogi State Chapter of All Progressives Congress (APC) over the right State Executive Committee suggests that former reconciliatory committees to resolve varying interests in the state may not have achieved much, reports Assistant Editor,  Dare Odufowokan
THERE is no respite yet in the supremacy battle ongoing in the Kogi State chapter of the ruling All Progressives Congress (APC). Rather, the troubles within the party heightened during the week as forces loyal to Governor

Nwabueze Onwuneme is a chieftain of All Progressive Congress (APC) in Abia State. A youth activist and Abia APC State House of Assembly aspirant for the Umuahia North State Constituency seat, Onwuneme told Associate Editor, Sam Egburonu, how he would build on the giant strides of the former Premier of the old Eastern Region and other salient national issues. Excerpts
JUST recently, some Igbo leaders visited President Muhammadu Buhari and endorsed him for a second term in office. As the Director-

Hon. Maria Ude Nwachi is a member of Ebonyi State House of Assembly, representing Afikpo North East Constituency. She speaks in this interview with Ogochukwu Anioke on the six month suspension slammed on her by her colleagues, challenges and political aspirations.
THE belief in some quarters in the state over your suspension by the state House of Assembly is that Governor David Umahi is after you because of your national assembly ambition. What is your take on that?
Before I won the State 

As activities for the governorship election in Ekiti state, slated for September 22nd 2018, gather momentum, Assistant Editor Dare Odufowokan examines the situation within the ruling Peoples Democratic Party (PDP) and concludes that outgoing governor Ayodele Fayose, who is alleged to be scheming to impose a candidate on his party, may be fighting the toughest political battle of his life.
FOLLOWING allegations that Governor Ayodele Fayose is plotting to impose his deputy, Professor Kolapo Olusol

Ondo State House of Assembly aspirant, Adeyinka Egunjobi speaks with Taiwo Alimi on his drive, aspirations and blueprint to better the lot of his people in Akoko North East federal constituency.    
WHAT are your political thoughts and ideology?
By nature I am a progressive. I am a student of Obafemi Awolowo political thought that sees the people as the centre of your government. That is why in any position I find myself my drive is to serve the people because they are the central