Posts Tagged ‘Nigerian Economy’

What You Need To Know About Nigeria Economic Sustainability Plan (NESP)

by Olatorera Dickson-Amusaon June 26, 2020
Recall that the Nigeria Economic Sustainability Plan (NESP) was approved by the Federal Executive Council (FEC) on June 24, 2020. The initiative was revealed by Tolu Ogunlesi, Special Assistant on Digital and New Media to President Muhammadu Buhari. NESP was developed by the Economic Sustainability Committee (ESC), established by President Muhammadu Buhari on March 30, […]

CBN: Regulatory Measures to Improve Lending to the Real Sector of the Nigeria Economy

by Breaking Timeson January 9, 2020
CBN has ordered all Deposit Money Banks (DMBs) to give out loans to real sectors in the Nigeria Economy and also decided to retain the minimum 65% loan deposit ratio (LDR) in the interim. The DMBs are required to maintain this level and further advised that average daily figures shall be applied to access compliance […]

BREAKING| Over 100m Nigerians earn less than N700 per day ~ EFInA

by Ikokwu Ikembaon December 9, 2019
A survey report by Enhancing Financial Innovation and Access (EFInA) has shown that over 100 million Nigerians earn less than N700 per day which limits them to save, make income or take risks on loans thereby making them financially excluded. The survey report titled: ” Assessment of Women’s Financial Inclusion in Nigeria, December 2019″, stated: […]

Nigeria: Moody’s Negative Outlook Reflects Current Realities 

by Ikokwu Ikembaon December 9, 2019
Moody’s negative outlook on Nigeria reflects current realities in the country, experts have said. However, the rating agency affirmed the B2 long-term local and foreign currency issuer ratings, the B2 foreign currency senior unsecured ratings, and the (P) B2 foreign currency senior unsecured MTN programme rating. This is the second change made since November 2017, […]

Lack of connectivity in rural areas affecting digital ecosystem in Nigeria, World Bank report

by Ikokwu Ikembaon November 30, 2019
The World Bank Group has launched its first Nigeria Digital Economy Diagnostic Report during an eSummit hosted by the government. The report reveals that although Nigeria is the largest mobile market in Sub Saharan Africa with a strong mobile broadband infrastructure and a vibrant digital entrepreneurial ecosystem, the lack of infrastructure and connectivity in the […]

Senate raises VAT to 7.5 %

by Ikokwu Ikembaon November 21, 2019
The Senate on Thursday passed the Finance Bill which seeks to amend seven Acts of the National Assembly relating to taxes payable in the country. The bill specifically seeks an increment of the value-added tax from five per cent to 7.5 per cent. It also seeks an increment in the Companies Income tax, Customs and […]