Atiku Lied About Nigeria’s Debt Profile – Lai Mohammed
Lai Mohammed, minister of information and culture, says former Vice-President Atiku Abubakar is spreading a false and frightening report on the country’s debt profile. Atiku had raised concerns on the country’s rising debt profile. The former vice-president said according to the medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP), Nigeria’s debt to revenue ratio was 99% in the first quarter of 2020. The...
IMF’s Projection Of Nigeria’s Economic Growth Wrong — Akabueze
The Director-General of the Budget Office of the Federation, Ben Akabueze, says the International Monetary Fund (IMF) has been wrong in its projections of the Nigerian economy in the last four years. Akabueze spoke on the economic projections of the President Bola Tinubu government for 2024. According to him, “In the last four years, IMF has got it wrong about our...
Buhari Moves To Lift 100 Million Nigerians Out Of Poverty, Inaugurates Committee
President Muhammadu Buhari has inaugurated the National Steering Committee (NSC) of the National Poverty Reduction with Growth Strategy (NPRGS) to be chaired by the Vice President, Professor Yemi Osinbajo. In his remarks at the event on Tuesday in Abuja, the President reiterated his commitment to lifting 100 million Nigerians out of poverty in 10 years, with a well-researched framework for...
Buhari To Lead 11 African Nations To Negotiate $19bn Soft Loan
The Pan Africa Great Green Wall (PAGGW) countries have appointed President Muhammadu Buhari President of the Heads of States and Government of the PAGGW to facilitate $5bn grant and $14bn soft loans for the agency. The minister of environment, Dr Mohammad Mahmood Abubakar, who disclosed this during the ministerial briefing on recent developments in the environment sector also said the...
FG Targets Five Million Jobs From €995m Agric Programme
The Federal Government says it is targeting about five million jobs for farmers through the €995m agricultural mechanisation programme. The initiative was aimed at boosting food security for the country. ABN TV reports that under the initiative, it added that facilities comprising tractors and other agricultural machinery were expected to be leased out to Nigerian farmers. It stated that this was coming...
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...
“Ghana Scraps Covid Levy, Cuts VAT to Boost Economic Growth”
Ghana has abolished its Covid-19 Health Recovery Levy and reduced value-added tax as part of broader efforts to stimulate economic growth, the government announced on Thursday. Finance Minister Cassiel Ato Forson said the reforms would return GHS 5.7 billion ($520 million) to households and businesses in 2026. Presenting the new measures to Parliament, Forson explained that the overhaul aims to...
FG, States, LGs Share ₦547bn As Federation Allocation For May
The Federation Accounts Allocation Committee on Wednesday at its virtual meeting shared to the three tiers of government a total sum of N 547. 309bn as federation allocation for the month of May 2020. FAAC’ s virtual meeting was chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Mahmoud Isa - Dutse, according to a statement...
Buhari Has Done Well in Job Creation – Festus Keyamo
The Minister of State for labour (state), Festus Keyamo on Sunday, May 31, said the Buhari-led administration has done well in job creation in the last five years. Keyamo said this while appearing on Channels Television “Sunday Politics” programme. Festus Keyamo stated that the effort of the government has gone unnoticed because Nigeria’s population grows faster than the rate of job...
Nigeria Inflation Rate Drops to 15.99% in October as Food Prices Ease
Nigerian inflation slowed to a 10th-month low in October, giving the central bank scope to leave interest rates on hold next week. Consumer prices increased 15.99% from a year earlier, compared with 16.63% in September, Statistician-General Simon Harry told reporters Monday in Abuja, the capital. The median estimate in a Bloomberg survey of seven economists was 16.2%. While inflation has exceeded...
