Economics

Nigerian households are experiencing some of the fastest urbanisation rates in the world, as workersare flocking to expanding first- and second-tier cities across the country. This is creating a large and growing number of single-person households, largely inhabited by males. However, many Nigerian homes are also extremely crowded, as large families squeeze into small housing […]

Much as I appreciate what the media has done by publicising the speech delivered by Dr Oby Ezekwesili at the Inaugural Business Lecture of the Lagos Country Club, I am still not quite certain about what that speech hoped to achieve. You see, Dr Ezekwesili did a fine job of detailing the current issues in […]

The National Lottery Regulatory Commission (NLRC) says it has remitted over N5 billion to the National Lottery Trust Fund (NLTF) in the past 10 years of its operation for execution of people oriented projects.  The Director General of the Commission, Mr. Adolphus Ekpe, disclosed this yesterday, during the 2015 Lottery Achievers Award, to mark the […]

ABUJA—The Nigerian National Petroleum Corporation, NNPC, yesterday, dissociated itself from the $25 million failed oil block bid deal by an Indian company, Oil and Natural Gas Corp-Mittal Energy Limited. Commenting on the failed oil block bid deal, NNPC, in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, said attempts […]

Nigeria may have taken a sizeable number of Small and Medium size Entrepreneurs, SMEs to the just concluded ITU telecom World in Budapest, Hungary, to showcase the potential of the country’s informal sector, but the opportunity that was not to be lost was that of attracting global investment community into Nigeria’s broadband market. Vanguard reliably […]

International transparency group, Global Witness, yester-day, stated that Nigeria, Angola, Republic of Congo and the Democra-tic Republic of Congo lost about $4 billion (N800 billion) in shady oil and mining deals. Global Witness, in a recently released report, disclosed that anonymous companies facilitated the loss of national wealth on an epic scale, while it questioned […]

Working in Nigeria is quite interesting and as well, very challenging. Public sector workers have to use their meagre salaries to fend for themselves, their immediate   and extended families. In a country where the minimum wage is N18, 000 per month and the rate of inflation runs sky high, the average Nigerian public sector worker […]

Credit allocation by banks have shown that the bulk of their loans in the past two years went to oil and gas sector to the detriment of other sectors. The sector attracted over 26 per cent of the total bank loans to the economy despite its relative low contribution of about 11.2 per cent to […]

Nigeria has deferred a plan to slash gas exports to Ghana beginning Friday over an outstanding debt of $181 million, alleviating a threat that could have worsened electricity blackouts and caused another headache for the government. The West African Gas Pipeline Company (WAGPCo) said it was "cautiously optimistic" that Nigeria's N-Gaz consortium would accept a […]

Mr Habib Abdulahi, Managing Director of Nigeria Ports Authority (NPA), has said that Nigerian ports have witnessed more efficient services and upsurge in cargo throughput because of the reforms in the sector. Abdulahi, represented by Mr Nasir Mohammed, General Manager, Abuja Liaison Office of NPA, made the statement on Tuesday during the NPA day at […]