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Nigeria’s Debt To Hit N38 Trillion Next Year – Finance Minister

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Zainab Ahmed, the minister of finance, budget and national planning, has projected that Nigeria’s debt profile would hit N38.68 trillion by December 2021. Speaking when she appeared before the Senate committee on local and foreign debts on Tuesday, Ahmed estimated that both external and domestic debt would rise to N32.51 trillion by December 2020. According to the Debt Management Office, the...

FG Seeks Fresh $1.2 Billion Loan From Brazil

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The Federal Government is seeking a $ 1 .2 bn external borrowing from Brazil to finance agricultural programmes in the 2021 budget. A request for approval has also been transmitted to the National Assembly. The Minister of Finance, Budget and National Planning, Zainab Ahmed, who appeared before the House of Representatives Committee on Finance in Abuja on Tuesday to defend...

US Oppose Okonjo-Iweala’s Election As WTO DG, Give Reasons

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The United States has explained why it is against the election of Ngozi Okonjo-Iweala as the next director-general of the World Trade Organisation (WTO). In a statement issued by the office of the US trade representative on Wednesday, the world power said the WTO is in dire need of reform and must be “led by someone with real, hands-on experience...

I Won’t Sign 2021 Budget If Provision For Victims Of Police Brutality Is Excluded – Gbajabiamila

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The Speaker of the House of Representatives, Femi Gbajabiamila, has disclosed that he will not sign the 2021 budget if provision for compensation to victims of police brutality is excluded. Mr. Gbajabiamila also disclosed that he will be visiting families of victims of police brutality across the country. He also appealed to the protesters to suspend the ongoing protests. Gbajabiamila stated these...

Nigeria Has Lost N700 Billion In 12 Days Of #ENDSARS Protest – LCCI

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The Lagos Chamber of Commerce and Industry (LCCI) says the Nigerian economy has lost N700 billion in 12 days due to the ongoing #EndSARS protests. There have been protests nationwide against the brutality of the special anti-robbery squad(SARS) of the police force. In a statement on Monday, Toki Mabogunje (pictured), LCCI president, said the protests have crippled economic activities in the...

Nigeria Heading For Another Recession, To Recover In 2021 – Buhari

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President Muhammadu Buhari on Thursday said the country was primed for a second recession in four years although the government has put in place plans to ensure rapid recovery in 2021. The President made the remarks during the presentation of the 2021 budget proposal to the National Assembly. Like many other countries, the Nigerian economy has been hit hard by the...

Agricultural Development: FG Pledges Readiness To Carry Abia Along

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The Federal Government has expressed its commitment to carry Abians along in its agricultural policies to further guarantee food security in the state. ABN TV reports that the Managing Director Nigeria Film Corporation, Dr Chidia Maduekwe made this known on Tuesday during the flagging off of the Central Bank of Nigeria's anchor borrowers programme. He said the agricultural programme is one...

Those Running Nigeria’s Economy Are Not Professionals – NES

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NIGERIA Economic Society, NES, Tuesday took a swipe at President Muhammadu Buhari on his appointment, saying that those in his economic team are not professionals. According to Professional Economists, the engagement of novice in managing the economy explained why the Nation’s economy was nose-diving, adding that it was very wrong in the first place to exclude qualified and knowledgeable...

FEC Approves ₦13.08 Trillion 2021 Budget

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The Federal Executive Council (FEC) presided over by President Muhammadu Buhari on Wednesday approved N13.09 trillion budget estimate for 2021 fiscal year. Briefing State House Correspondents after the meeting, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the budget estimate is made up of N2.083 trillion capital expenditure, which she described as N29 per cent of the...

Buhari Seeks Approval From House Of Reps To Reimburse 5 States N148bn

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The President, Muhammadu Buhari, has written to the House of Representatives to seek approval for the Federal Government to reimburse five states for constructing roads on its behalf. The Speaker, Femi Gbajabiamila, read the presidential request at the opening of plenary on Tuesday. In the letter read by Gbajabiamila, Buhari sought “approval of the reimbursement of N148.14bn through the issuance of...

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