The Industrial Training Fund (ITF) paid over N6 billion as reimbursement to 510 firms in 2018, its Director-General (DG), Sir Joseph Ari. A breakdown of this payment include full payment for training of workforce across all cadres, acceptance of students on (Students Industrial Work Experience Scheme) SIWES. Speaking with The Nation, Sir Joseph, said the payment […]

The Nigeria Employers’ Consultative Association said on Wednesday that Nigeria took great risks by signing the controversial African Continental Free Trade Area Agreement. The Director-General, NECA, Mr Timothy Olawale, said this on Wednesday while fielding questions from the State House correspondents after the leadership of the association had met with President Muhammadu Buhari at the […]

What I will say is that obviously, energy security for any country is a laudable goal. You have to be energy-secured because at any time, anything can happen. I will not say we are fully there as a country yet but a lot is being done to take us to where we need to be, […]

Cabotage, otherwise known as coastal trade, involves carriage of goods (and passengers) within the territorial and inland waters of any nation by ships and any other means of transportation from one place to the other in the same country. As part of maritime reforms, Nigeria enacted the Cabotage Act 2003, which was designed to restrict […]

Barring any distortion in plans, Nigeria will be refining at least 900,000 barrels of oil per day (bpd) in the next 10 years. This was the submission of former Minister of State for Petroleum Resources, Dr Ibe Kachikwu. In an interview with reporters in Abuja, the ex minister said the country is capable of achieving […]

Within a three- month period, covering January to March this year, the Federal Government spent the sum of N610.2bn paying interest on its domestic debts. The amount is contained in a report on the nation’s debt which was obtained from the National Bureau of Statistics on Wednesday. Nigeria’s domestic debt, according to the report, stood […]

Managing Director of the International Monetary Fund (IMF) Christine Lagarde announced in a statement on Tuesday that she has submitted her resignation from the IMF. However, it will go into effect in September. “I have met with the Executive Board and submitted my resignation from the Fund with effect from September 12, 2019. “The relinquishment […]

Banks will be collaborating with credit bureau operators  to achieve the Central Bank of Nigeria’s (CBN’s) 60 per cent Loan to Deposit Ratio (LDR) policy, The Nation has learnt. The CBN’s directive, expected to lead to more than N1.4 trillion in loans to customers, is in line with the apex bank’s commitment to  boost economic growth through […]

The ongoing data recapturing of pension contributors and retirees by Pension Fund Administrators (PFAs) nationwide is meant to protect pension clients against cybercrime and other fraud, the Managing Director, IEI-Anchor Pension Managers Limited, Mr. Glory Etaduovie, has said. Etaduovie in a paper titled: National Data Base Harmonisation and Pension Data Recapture, made available to journalists in Lagos […]

The nation’s external debt stock rose by 148 per cent in almost four years of the President Muhammadu Buhari administration, data from the Debt Management Office showed. The external debt soared to $25.61bn on March 31, 2019 from $10.32bn on June 30, 2015, according to the DMO. Eurobonds worth $10.87bn accounted for the largest chunk […]