Business

Federal Government borrows $2.5B for Lagos-Ibadan Rail Project
Federal Government borrows $2.5B for Lagos-Ibadan Rail Project

The Federal Government has borrowed two point five billion US dollars to fund the construction of the Lagos-Ibadan railway. This was made known by the Minister of Transportation, Rotimi Amaechi, during a television interview last night. Amaechi further said that by the time the railway project is completed, government would have spent up to two point six…

President Buhari launches ‘Decade Of Gas In Nigeria’ 
President Buhari launches ‘Decade Of Gas In Nigeria’ 

President Muhammadu Buhari has declared that full utilization of Nigeria’s gas resources has the capacity to uplift the nation’s economy. President Buhari made the declaration at the launch of the “The Decade of Gas in Nigeria”, which is to achieve a gas-powered economy by 2030. The launch was done alongside the opening of a conference in Abuja,…

CBN’S MPC retains existing rates; blames insecurity for food inflation
CBN’S MPC retains existing rates; blames insecurity for food inflation

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at eleven point five percent. The Governor of the Central Bank of Nigeria, Godwin Emefiele, made the announcement at a media briefing after the meeting of the MPC. Emefiele said the MPC expects to see improvement in the economy through sustained…

WTO confirms Ngozi Okonjo-Iweala as DG
WTO confirms Ngozi Okonjo-Iweala as DG

The World Trade Organisation has confirmed Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala as its first African and first female Director General. The WTO had been without a leader for nearly six months, and Okonjo-Iweala became the sole contender for the top job after her South Korean rival withdrew from the race. In a televised acceptance address from…

NIN-SIM LINK: Nigerians welcome extension of deadline
NIN-SIM LINK: Nigerians welcome extension of deadline

The Federal Government has extended the deadline for Nigerians to link their National Identity Number to mobile phone SIM by eight weeks. This means that instead of the initial expiry date of February 9, mobile phone subscribers who are yet to link their SIM to their NIN would be allowed to enjoy services until April 8, 2021.…

Covid pandemic makes World’s Billionaires richer
Covid pandemic makes World’s Billionaires richer

On the foreign scene; a new report has revealed that billionaires around the world have made more money during the Covid-19 pandemic. According to the report from Swiss bank UBS, the world’s richest people saw their wealth climb by 27.5% from April to July this year. UBS also said the number of billionaires increased to a new…

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