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FEC Approves New $247.3Mn Loan For Infrastructure Devt

Despite concerns by some analysts and the International Monetary Fund (IMF) about Nigeria’s rising debt stock, the Federal Executive Council (FEC) has approved another $247.3 million foreign loan for infrastructure development. Nigeria’s domestic and foreign debt had jumped from N12.12 trillion in 2015 to N24.38 trillion in 2018. Giving a breakdown of the loan based […]

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Nigeria’s Inflation Decelerates To 11.25% In March

The National Bureau of Statistics (NBS) on Tuesday reported that Nigeria’s Consumer Price Index (CPI), which measures inflation rate, dipped to 11.25 per cent (year-on-year) in March, representing 0.06 per cent points lower than the rate recorded in February. The Bureau in its “CPI and Inflation Report’’ stated that  increases were recorded in all Classification […]

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Elumelu Asks IMF To Provide Nigeria Alternative Loan Sources

The Chairman of United Bank for Africa Plc, (UBA) and Heir Holdings, Mr. Tony Elumelu on Friday charged the International Monetary Fund (IMF) and other development partners to provide alternative sources of raising funds for Nigeria if Chinese loans are not in the best interest of the country. Elumelu, who gave the charge while interacting […]

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IMF Forecasts 2.5% Growth For Nigeria In 2020

The International Monetary Fund (IMF) on Tuesday projected that Nigeria’s economy would grow at the rate of 2.5 percent by 2020, up from the 2.1 percent forecast for 2019. The Breton Woods institution in a new World Economic Outlook (WEO) release issued at its ongoing joint annual spring meetings with the World Bank, in Washington […]

Civil Advocacy & Gender Matters Latest News Political Economy

CISLAC Decries Poor Measures To Combat Kidnapping, Tasks Govt

The Civil Society Legislative Advocacy Centre (CISLAC) has decried the delayed response and  poor measures by government in the country over the growing  rate of kidnapping. The group, in statement signed by its Executive Director, Auwal Ibrahim Musa (Rafsanjani), noted that since 2007, the country had been witnessing increased  spate of kidnapping in the South, particularly South-South […]

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Nigeria Ranks 6th Most Miserable Country Globally – Report

The latest analysis on global misery level published by Steve Hanke, an economist from John Hopkins University in Baltimore, United States, indicated that Nigeria ranked as the sixth most miserable country in the world. In his writing in the Forbes magazine of March 28, titled ‘Hanke’s Annual Misery Index 2018: The World’s Saddest (And Happiest) […]

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Tinubu Cautions FG On Proposed VAT Rate Hike

The National Leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu, on Thursday warned the President Buhari-led administration not to raise taxes to prevent a relapse of the nation’s economy into recession. Giving the advice during the 11th Bola Tinubu Colloquium to mark the 67th birthday of the former Lagos State Governor at […]

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President Buhari Asks Ministers To Prepare For Tough Times Ahead

President Muhammadu Buhari on Friday told members of the Federal Executive Council (FEC) to be prepared for tough times ahead as the government will intensify the implementation of its three point agenda of fighting insecurity, corruption and fixing the economy. Buhari gave the charge when members of the FEC  paid him a congratulatory visit following […]

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President Buhari Restates Commitment To Restructuring Nigeria’s Economy

President Muhammadu Buhari on Wednesday restated his administration’s commitment to restructuring the Nigerian oil-dependent economy in furtherance of efforts to ensure its diversification and sustainable growth. The President made this promise in his acceptance speech delivered shortly after the Independent National Electoral Commission (INEC) declared him winner of the February 23 Presidential election. While expressing […]

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Buhari Re-elected For Another Term, Abubakar Heads To Court

After days of rigorous compilation of the results of votes of last Saturday, February 23, Presidential election from across the 36 states of the federation and the Federal Capital Territory (FCT), the Independent National Electoral Commission (INEC) early Wednesday declared President Muhammadu Buhari as the winner of the election. According to the figures released on […]