Banking Economy News Extra Foreign Latest News Political Economy

IMF Endorses CBN’s Policy Initiatives To Grow Economy

The International Monetary Fund (IMF) has reiterated its support for the Central Bank of Nigeria’s (CBN’s) sustained tight monetary policy and other measures being implemented to stabilize the Nigerian financial system and improve the nation’s economic growth. The support was expressed by the multilateral financial institution’s  Chief Economist and Director of Research Department, Gita Gopinath, […]

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Nigeria’s Inflation Rises To 11.24% in Sept

Nigeria’s  consumer price index, (CPI) which measures inflation, increased by 11.24 percent (year-on-year) in September 2019, representing 0.22 percent points higher than the 11.02%  recorded in the preceding month. The National Bureau of Statistics (NBS) attributed the marginal rise of the rate to increases in all the Classification of Individual Consumption by Purpose (COICOP) divisions […]

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LCCI Charts Roadmap To Effective Border Closure For Economic Growth

The Lagos Chamber of Industry and Industry (LCCI)  has described the current closure of Nigerian land borders as coming with attendant benefits and costs, the latter which require urgent measures to be addressed by the government. The Director General of the organized private sector group, Mr. Muda Yusuf, on Tuesday stated that   reports on the […]

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2020 Appropriation Bill Scales Second Reading In Senate

The 2020 Appropriation Bill on Tuesday scaled second reading on the floor of the Senate. Consequently, upper chamber adjourned its plenary until 29th November to enable government Ministries, Departments and Agencies (MDAs) defend their budget proposals before the Committees of the Senate. The Senate President, Ahmad Lawan, in his concluding remarks during the debate on […]

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Again, IMF Revises World Economy Outlook Down To 3%

The International Monetary Fund on Tuesday downgraded further its outlook for the world economy, predicting that growth this year will be the weakest since the 2008 financial crisis primarily because of widening global conflicts. The Breton Woods institution hinges its latest forecast on the raging U.S-China trade wars as well as other threats in the […]

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AfDB Commissions Coalition For Africa’s Climate Funds

The African Development Bank (AfDB), in partnership with the Climate Investment Funds (CIF) on Monday commissioned the Coalition for Green Capital to prepare a study on the creation of national climate change funds and green banks in Africa. The CGC will identify and work with six African countries to conduct feasibility studies for the project, […]

Budgeting Economy News Extra Latest News National Assembly

Buhari Seeks Senate’s Approval of N10.69Bn Promissory Note For Kogi State

President Muhammadu Buhari on Tuesday asked the Senate to consider for approval N10.069 billion Promissory Note for Kogi State, being outstanding claims due the state government on projects executed by it on behalf of the Federal Government. Also, the President also forwarded the Deep Offshore and Inland Basin Production Sharing Contracts (PSC) Amendment Bill 2019 […]

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DMO Lists Series II N15Bn Green Bond On NSE

The Debt Management Office (DMO) on Monday officially listed the Federal Government of Nigeria’s (FGN) Series II N15 billion Green Bond on the Nigerian Stock Exchange (NSE). The NSE, while announcing the listing, stated that the 7-year Green bond issued at coupon rate of 14.50% on June 13, 2019 would mature on June 13, 2026. […]