Remittance To Low, Middle-income Countries Now $540bn       Remittance flows to low- and middle-income countries reached $540 billion last year, just 1.6 per cent below the 2019 total of $548 billion, according to the latest Migration and Development Brief by World Bank has shown. The bank said...

$40bn Investments Needed for Nigeria’s Gas Plan - NNPC       The Nigerian National Petroleum Corporation (NNPC) has said that the Nigerian oil and gas industry will require at least $40 billion in direct investments in basic infrastructure to achieve the federal government’s much talked-about about “Decade...

Illicit Financial Flows Will threaten Economic Stability– Finance Minister Illicit financial flows (IFFs), unless checked, will continue to significantly erode domestic revenues, enable corruption, threaten economic stability and sustainable development, divert money from public priorities and hamper government’s efforts to mobilise domestic resources and recover...

Foreign Direct Investment Dipped By $30m In January – CBN       Foreign Direct Investment dipped by 33.3 per cent which amounted to $30m in January, latest statistics obtained from the Central Bank of Nigeria revealed on Wednesday. According to figures obtained from the CBN’s January report on...

Manufacturing Sector Leads $8.41bn Investment Announcements In Q1, 2021       The Nigerian Investment Promotion Commission (NIPC) has reported $8.41 billion new investment announcements in Nigeria in the first quarter of 2021 (Q1 2021), with the manufacturing sector attracting 60 percent, reflecting the gradual return of investors’...

Nigeria’s Trade Deficit Rises By 49% To $2.5bn     The nation’s trade deficit rose month-on-month by 49 percent to $2.5 billion in January from $1.69 billion in December last year even as foreign trade stood at $8.14 billion during the period. Also capital importation dropped by 31...