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Analysts Forecast Improved GDP Growth For Nigeria In Q3

Researchers at the Centre for the Study of Economies of Africa (CSEA) have projected that Nigeria’s GDP growth rate would reverse the negative trend in third quarter (Q3,2020) as business activities continue to expand following the lifting of lockdown measures by the government. The analysts gave this forecast in the Centre’s latest Nigeria Economic Update […]

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FG Targets N1Trn Yearly Savings From Fuel Subsidy Removal

The Federal Government on Thursday projected that about N1trn would be saved yearly from the deregulation of petroleum products’ pricing regime and that such savings would be deployed to fund critical components of the economy. The Minister of State, Petroleum Resources, Chief Timipre Sylva, who gave the forecast in Abuja during an interview with some […]

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Peterside To Co-Chair Steering Committee on Nigeria Agenda 2050, MTNDP

President Muhammadu Buhari on Wednesday formally constituted the National Steering Committee to oversee the development of the Nigeria Agenda 2050 and Medium-Term National Development Plan (MTNDP) to replace Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP) 2017-2020. Buhari said the composition of the committee, which will be jointly chaired by Mr. Atedo Peterside […]

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Nigeria’s Debt Stock Up N31.009Trn Amid Borrowing Spree

The Debt Management Office (DMO) on Wednesday reported an increase of N2.38 trillion in Nigeria’s public debt stock in three months (April-June 2020) thereby pushing the nation’s debt stock to N31.009 trillion or $85.897 billion at the end of half year 2020. At the end of the first quarter, the total public debt stock, comprising […]

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Kwara Targets 21,623 Traders For Interest-Free Loans

Kwara State Government on Tuesday announced that about 21,623 petty traders in the state would benefit from the state’s interest free micro-finance loans under the Kwara State Social Investment Programme (KWASSIP). To ensure that the loans get to the beneficiaries promptly, the state governor, Alhaji AbdulRahman AbdulRazaq had approved the immediate disbursement. The Chief Press […]

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Nigeria Should Improve Liquidity, Capital Inflows For Growth – Teriba

Nigeria’s leading economist and public finance analyst, Dr. Ayo Teriba, has urged the federal government to explore the opportunities availed by the current liquidity glut globally occasioned by the COVID-19 pandemic to attract capital flows to the economy. The option, he said, would help to stabilize the national currency exchange rate, increase domestic liquidity and […]

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CBN Flaws NESG’s Stance On Monetary Measures

The Central Bank of Nigeria (CBN) on Tuesday faulted the Nigerian Economic Summit Group (NESG) stance on some of its recent monetary policy initiatives, describing the group’s recent comments, particularly on its COVID-19 pandemic interventions, as ill-informed and capable of bringing the institution and governor into disrepute. The apex bank, through a statement issued by […]

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DAPPMAN Lauds FG On Subsidy Removal, Seeks Full Deregulation

Amid growing concerns about the immediate negative implications of the fuel subsidy removal for poor Nigerians, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), has lent its support for the fiscal measure and full-scale deregulation of the downstream sector to enhance economic growth and development of the nation. The government, through the Petroleum […]

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MDAs Failed To Remit N1.2Trn To Govt Coffers – FRC

The Fiscal Responsibility Commission has disclosed that most ministries, departments and agencies of government failed to remit about N1.2 trillion to to the Consolidated Revenue Funds of the Federal Government as required by law and fiscal regulations. The Acting Chairman of the commission, Barrister Victor Muruako, who gave this hint on Monday, explained that the […]

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FG flags off vocational trainings on skills acquisition for youths

The Federal Government, through the Industrial Training Fund (ITF) in collaboration with the Nigerian Content Development and Monitoring Board (NCDMB), has kicked-off a joint vocational training programme on skills acquisition. At the kick-off ceremony, which was declared opened by the Minister of State for Industry, Trade and Investment, Amb. Mariam Yalwaji Katagum in Abuja, the […]