Economic Confidential

Banks Paid N33.8tn in Seven Months – NBS

A total of 463.1 million financial transactions worth N33.87trn were settled by the banking sector between January and July this year, figures released by the National Bureau of Statistics have revealed. The NBS stated this in a report on the...

‘Nigeria’ll Bounce Back as Africa’s Largest Economy’

The Federal Government has said that the emergence of South Africa as the largest economy in Africa, a position that Nigeria held up until last week would make the government work harder to regain its lost glory. The Minister of Budget...

We’ll Spend N505.6bn on 116 Water Projects — FG

The Federal Government say it will spend a total of N505.6bn on 116 ongoing water projects across the country. It also stated its total outstanding liabilities to contractors handling some water projects was N88.8bn as at 2015. The Minister of Water...

Oil Price Hits $50, Highest in Eight Weeks

Global oil benchmark, Brent crude, hit an eight-week high yesterday as the world’s biggest producers prepared to discuss a possible freeze in production levels. Brent, against which half of the world’s oil is priced, rose by $0.84 to $50.69 per...

Buhari Seeks End to Illicit Flow of Funds

President Muhammadu Buhari has called on all governors of central banks in Africa to bring to an end all forms of illicit flow of funds out of the continent. The President stated this while speaking at the opening session of...

FG Spent $10bn on Ajaokuta Steel Company – Minister

The Minister of State for Solid Minerals Development, Mr. Abubakar Bawa-Bwari, said  that the Federal Government had spent over $10bn on the Ajaokuta Steel Company in the last 35 years. He also said the government escaped paying damages in excess...
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