Video: Nigerian exports rise by 59.9% - Saga Gist - Top Source for Nigeria News


Tuesday, June 5

Video: Nigerian exports rise by 59.9%

Minister of Budget and Planning, Sen. Udoma Udo Udoma, has revealed that Nigeria’s total exports appreciated by 59.9 per cent between 2016 and 2017 following the implementation of the Economic Recovery and Growth Plan.
Udoma said the non-oil sector accounted for the growth recorded, with agricultural sector export growth from N6.7 billion in 2016 to N170 billion in 2017, and solid minerals export from N44 billion in 2016 to N102 billion in 2017.
=====Fiscal Responsibility Commission says more than N650 billion has so far been remitted as operating surplus into the Consolidated Revenue Fund in the last two years.
The commission in collaboration with Nigerian Communications Commission remitted about N49.7 billion to the Consolidated Revenue Fund within the first quarter of 2018.
====The Lagos State Pension Commission has announced the payment of N37.5billion to 9,045 retirees of the state.
The commission said that the Lagos State Governor Akinwunmi Ambode, cleared the arrears owed pensioners since 2015 and had released N859 million to offset the Accrued Pension Rights of 158 retirees under the Contributory Pension Scheme in May.
===Asset Management Corporation of Nigeria says it recovered N740 billion from debtors in 2017.
The Corporation said it also cut its losses from N164.94 billion in 2016 to N16.41 billion in 2017 and was working with the judiciary and legislature to amend the AMCON Act for more efficiency.
=====Former Director-General, Abuja Chamber of Commerce and Industry, Dr Chijioke Ekechukwu says the naira will gain strength against the dollar when the Nigeria-China currency swap takes effect.
Ekechukwu explained that the swap is expected to reduce pressure on the dollar as letters of credit and other valid payments for imports from China will be in the Chinese currency.
=====Small and Medium Enterprises Development Agency of Nigeria says the 23 Industrial Development Centres across the country will be transformed into world class enterprises clusters for rapid economic development, job and wealth creation.
The agency said the centres, established to carry out technical appraisal of loan applications, industrial extension services and entrepreneurial training, would be revived to accelerate Nigeria’s industrial growth and position the country as a hub of trade facilitation in West Africa.