As part of the efforts to curb child malnutrition in Nigeria, President Muhammadu Buhari has proposed about N300 millions in the 2019 budget for the procurement of Ready to Use Therapeutic Food ( RUTF). According to the budget breakdown, the RUTF will be distributed across the country, while part of the money will also be used to establish Community Management ...

The Socio-Economic Rights and Accountability Project (SERAP) has sent a Freedom of Information (FoI) request to Babatunde Fashola, SAN, Minister of Power, Works and Housing, urging him to use his good offices and leadership position to “urgently provide information on specific names and details of contractors and companies that allegedly collected money for electricity projects but failed to execute any ...

Cinema bussines is gradually becoming another goldmine as cinema culture is spreading very quickly among Nigerians and the latest statistics released by the Cinema Exhibitors Association of Nigeria (CEAN) for the month of December 2018 shows us in figures, just how massive it has become. According to the report on CEAN’s website, Nigerians spent a total of N680 million watching films ...

The Nigerian Stock Exchange has joined the cadre of financial institutions using chatbots. The Nigerian bourse recently announced the launched of its very own chatbot, called X-Bot. This means the NSE is the first stock exchange in Africa to develop a chatbot. According to reports, the X-Bot is an artificial intelligence (AI)-powered Chatbot that responds directly and automatically to enquiries from ...

National Bureau of Statistics, NBS, has said the revenue generated from Value Added Tax, VAT, from sectoral distribution from first to third quarters of 2018 was N808 billion. VAT is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. Sectoral Distribution of VAT for ...

THE execution of Nigeria’s 2019 budget will likely encounter a serious threat as the price of Bonny Light, the nation’s premium oil grade, yesterday, hovered at $52.72 per barrel in the international market. The price, which had dropped to as low as $48 last week, before hovering at the current level, showed $7.28 below the $60.00 per barrel benchmark price ...

Gboyega Oyetola, 5th Executive Governor, State of Osun has presented his administration’s first appropriation Bill to the Osun State House of Assembly. Exactly a month after his inauguration on 27th December, 2018 The Governor on Thursday presented the state’s budget for 2019 fiscal year to the tune of N152, 756, 088, 830.00 The budget , which was tilted the “Budget ...

Nigeria needs not less than 337 billion dollars to implement the Sustainable Development Goals (SDGs) from 2019 to 2022, the UN Support Plan for the Sahel has estimated. According to the exchange rate by the Central Bank of Nigeria, the figure represents 103 trillion Naira, over 11 times more than the proposed N8.9 trillion Budget for 2019. The cost of ...

South African telecommunications firm, MTN, has reached an agreement with the Central Bank of Nigeria (CBN) to resolve the dispute over illegal transfer of $8.1 billion out of Nigeria, its major market. MTN Group, which announced this via its Twitter handle, disclosed that it made a N19 billion ($53m) payment and is “engaging with banks regarding the agreement.” The company, ...

ONE of the fallout of the cashless policy and rapid deployment of electronic payment channels is online payment. Online payment is the use of internet based platforms to pay for goods and services. According to the Nigeria Interbank Settlement System (NIBSS), Nigerians made 33.43 million transactions worth N183.07 billion via the internet from January to September this year. Internet money ...