Inflation Rate Under Buhari Not Highest In Nigerian History — Keyamo
Festus Keyamo, the spokesperson for the presidential campaign council of the All Progressives Congress standard bearer, Asiwaju Bola Tinubu, has said the inflation rate under President Muhammadu Buhari's administration is not the highest in the history of the country. The Senior Advocate of Nigeria, who appeared on Arise TV morning show on Monday, was responding to questions about what Buhari’s...
NNPC Discovers Oil In Nasarawa
The Nigerian National Petroleum Company Limited on Friday announced the discovery of oil in Nasarawa State and said it was set to drill the first foot of an oil well in the Northern state. It said the discovery was in continuation of its oil exploration activities in the country’s inland basins, adding that it would spud the first oil well...
Nigeria’s Debt May Hit N77tn, Says DMO As FG Spends N5.2tn On Debt Serving In 2022
Nigeria’s public debt burden may hit N77tn if the National Assembly approves the request by the President, Major General Muhammadu Buhari (retd.), to restructure the Ways and Means Advances. Thee Ways and Means Advances is a loan facility through which the Central Bank of Nigeria finances the shortfalls in the government’s budget. This is as the Federal Government spent N5.24tn servicing...
Government Agencies Agree To End Fuel Scarcity
Federal Government agencies and petroleum marketers have undertaken to end the crippling shortage of petrol across the country that has seen pump prices hit N285 per litre. Speaking after a meeting at the Nigerian National Petroleum Company Limited, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, in Abuja on Thursday, the operators said the depots would work for 24 hours...
Buhari Says His Administration Has Done Well In Reviving Economy Irrespective Of Criticisms
President Muhammadu Buhari, Tuesday said irrespective of what some people say, the administration he leads has made strides in stabilizing the security situation in the country, reviving and diversifying the economy, and fighting corruption. The President gave himself the pass mark when he received a delegation of political, religious and business leaders from Gombe State at State House, Abuja, that...
Nigeria Is Not Broke – Finance Minister
Mrs. Zainab Ahmed, the Minister of Finance, Budget, and National Planning has stated that Nigeria is not broke. She noted that the country continues to disburse funds to the three tiers of government from the Federation Accounts Allocation Committee (FAAC). Ahmed said the Federal Government has since 2015 disbursed N5.04 trillion to state governments. READ ALSO: I Have Fears Over Positive Outcome...
CBN Increases Interest Rate To 16.5%
The Monetary Policy Committee of the Central Bank of Nigeria voted Tuesday to increase the benchmark interest rate by 100 basis points to 16.5 per cent, the highest since 2001. The CBN Governor, Godwin Emefiele, disclosed this while reading the communique of the last MPC meeting of the year on Tuesday, November 22, 2022. The MPC said the tightening would curb...
Buhari Set To Unveil Redesigned Naira Notes On Wednesday – Says Emefiele
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has announced that the President, Major General Muhammadu Buhari (retd.), will on Wednesday unveil the newly designed naira notes. Emefiele disclosed this in Abuja during the Monetary Policy Committee monthly meeting on Tuesday. The newly designed naira notes to be unveiled are N1,000, N500 and N200 notes. According to the governor, the...
Nigeria’s Survival Lies With Non-Oil Sector – Says NEPC
The Nigeria Export Promotion Council says the nation’s economic survival lies with non-oil products. NEPC Trade Promotion Advisor, Bello Noma, stated this when he led his colleagues on a sensitisation visit to the News Agency of Nigeria in Jos on Monday. Noma said that the oil, “which is the nation’s main export would one day dry up leaving the country with...
Naira Redesign: Governors On Our Watchlist Have Increased – Says EFCC
The Economic and Financial Crimes Commission (EFCC) has said the number of governors on its watchlist has increased. The Chairman of the commission, Abdulrasheed Bawa, disclosed this while briefing news men at the State House after meeting with President Muhammadu Buhari on Thursday. Bawa, who declined to mention the number of governors currently under the EFCC watch, also refused to reveal...
