Shipping Can Contribute 5% To GDP Yearly – Jamoh       Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Bashir Jamoh, has said that a developed shipping industry has potential to contribute about five percent to the nation’s economy. Jamoh disclosed this in Lagos when he...

Nigeria Reaching Maximum Borrowing Capacity, Says El-Rufai       Nigeria is almost reaching its maximum capacity to borrow and must be proactive in ramping up tax revenue collection, the Kaduna State Governor, Nasir El-Rufai, said on Thursday. El-Rufai lamented the low rate of tax collection in the country...

‘Over 82.9m Nigerians Currently Living Below Poverty Line’       With over 82.9million Nigerians currently living below the poverty line, there is a need to urgently tackle poverty to get the economy back on track, according to ActionAid Nigeria. The Country Director, Actionaid, Ene Obi, also said unemployment...

Rising Debt Servicing Cost Can Impede Growth – CBN       The Central Bank of Nigeria has expressed concern over the rising cost of debt service being incurred by the Federal Government. The CBN, in its half-year 2020 economic report, said the trajectory of Federal Government’s debt further...

Nigeria Can Earn $1bn From Leather By 2025 - NEPC Boss       The Nigeria Export Promotion Council (NEPC) has said that the leather industry could generate $1bilion for Nigeria by 2025. The Chief Executive Officer of NEPC, Mr. Segun Awolowo, who disclosed this at the virtual summit...

NCC Contributes N2.27trn To Nigeria’s GDP - Danbatta         The Nigeria Communications Commission (NCC) has said that the contribution of the telecommunication sector to the country’s Gross Domestic Product (GDP) has risen from 8.5 percent in 2015 to 14.3 percent as at September 2020, amounting to...