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Tag Archives: Nigeria

Nigeria’s debt on infrastructure is a good investment – Fashola

Fashola

Nigeria’s Minister of Power, Works, and Housing, Babatunde Fashola, says debt for infrastructure in Nigeria is good debt, as far as he is concerned. Speaking at the Africa Investment Forum in Sandton South Africa on Wednesday, the minister said the Nigerian government should not be judged like a private company when it comes to borrowing. His words: “The only thing ...

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Paint consumption in Nigeria rises to N96bn

Paint

Despite the prevalent harsh business terrain in the country, paint manufacturers said that consumption of the product is currently on the increase with the figure put at N96.50 billion as at the third quarter of this year. According to Paint Manufacturers Association of Nigeria, (PMA), a group of the Manufacturers Association of Nigeria (MAN) this increase was hinged on current ...

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Nigeria’s paint industry will hit $377m growth by 2025 — Business Expert

paint industry

Nigeria’s paint industry is projected to record five per cent growth rate from its present estimated $268 million (N96.50 billion) to $377 million (N135.80 billion) by 2025, a business expert has said. Chris Kiwamu, Managing Consultant, Kirsten Turner Consulting, made the projection on Wednesday in Lagos during the 30th Annual General Meeting of the Paint Manufacturers Association of Nigeria. He ...

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6 Reasons Why Properties In Lagos are So Expensive

6 Reasons Why Properties are Expensive In Lagos

Have you ever wondered or been involved in a conversation about why properties are so expensive in Lagos, unlike other cities in the country? What answers did you come up with? If you have, then you are not alone as the rising cost of property in Lagos has remained a topical issue in Lagos over the years. What makes this ...

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Nigeria needs $1 trillion to modernize energy infrastructure

energy infrastructure

Nigeria will need as much as $1 trillion modernize its energy infrastructure, Vice President Yemi Osinbajo said Thursday in Abuja. While speaking at the National Energy and Climate Change summit held at the Presidential Villa, Osinbajo said “huge investment of about one trillion US dollars required to modernize our energy infrastructure in twenty-nine years between 2014 and 2043.” Osinbajo, who ...

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IMF implores Nigeria to prioritise infrastructure projects

IMF

The International Monetary Fund (IMF) has urged Nigeria to prioritise and embark on infrastructural projects that would boost the economic growth of the Nation. Mr. Paolo Mauro, Deputy Director, IMF Fiscal Affairs Department, said this on Wednesday during the launch of the Fiscal Monitor Report for October at the on-going IMF/World Bank Group (WBG) Annual Meetings in Bali. The report ...

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Chief justice of Nigeria discusses recovery strategy for AMCON N5.4 trillion debts

Nigeria

The Chief Justice of Nigeria, Walter Onnoghen, and the President of the Court of Appeal, Zainab Bulkachuwa, said the Asset Management Corporation of Nigeria (AMCON) can leverage the alternative dispute resolution (ADR) infrastructure in courts in its debt recovery mandate. The two justices’ spoke on Monday in Abuja at the interactive session between Justices of Supreme Court; Court of Appeal, ...

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FG exposes 114 companies involved in property fraud

property fraud

Property fraud – The Federal Government has uncovered 114 companies neck deep in shady land deals, even as it raked in N1.173 billion in tax revenues from January till date. The Executive Chairman, Federal Inland Revenue Services (FIRS), Tunde Fowler, made the disclosures in Abuja at the African Union high-level panel on illicit financial flows from Africa. According to him, ...

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Operators urge FG to do more for construction industry in the spirit of independence

construction industry

Some operators in Nigeria’s building sector say the benefits of the country’s independence have not been felt in the housing and construction industry. They urged the leadership to prioritize the industry for Nigeria’s economic revival. They insisted that the federal and state governments should stimulate the economy through the housing and construction industry, which has been “left unattended for a ...

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Power Supply drags at 3,761MW, Sector Loses N381bn

power supply

Nigeria’s power sector has struggled to sustain an average daily power supply of 3,761 megawatts (MW) within the first nine months of 2018, according to a performance trend data obtained from the office of the Vice President, Prof. Yemi Osinbajo. The power sector also lost N381 billion during the period under review as a result of high frequency resulting from ...

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