Economy

Home BUSINESS Economy Page 3

Buhari Should Account For $1bn Security Fund Jointly Contributed By States – Gov. Ortom

0
Buhari Should Account For $1bn Security Fund Jointly Contributed By States - Gov. Ortom

Governor Samuel Ortom of Benue State yesterday asked the Federal Government to account for the $1 billion security funds jointly contributed by the 36 states of the federation to fight insurgency giving the worsening insecurity in the country. Speaki...

Senate Summons Emefiele To Explain Uncontrolled Fall In Naira Value

0

The Senate has resolved to summon the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, to explain the reasons for the rapid depreciation of the value of the naira. It has also mandated its Committee on Banking, Insurance and Other Financi...

We’re Working Hard To Ensure Free Fall Of Naira Stops, Emefiele Vows

0

With an escalating demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has assured that it would continue to make deliberate efforts in the foreign exchange sector to avert further downward slide in...

South African President Ramaphosa Appoints Okonjo-Iweala Head Economic Advisory Council

2

South Africa's President Cyril Ramaphosa has reportedly appointed Dr. Ngozi Okonjo-Iweala as the Head of the country’s Economic Advisory Council. ABN TV reports that South Africa entered its second recession in two years in the final quarter of last year as agriculture, transport and construction contracted, data showed on Tuesday, highlighting the impact of power cuts on the nation’s economy. Statistics...

FG Takes Over Revenue Management Of NNPC, Customs, FIRS, NCC, Others

0

The Federal Government on Tuesday moved to boost its resources by directly taking over control of revenue management of its 10 most lucrative Enterprises. The 10 government-owned enterprises (GOE) named in the first phase of the initiative are Nigerian National Petroleum Corporation (NNPC), Nigerian Ports Authority (NPA), Nigeria Maritime Administration and Safety Agency (NIMASA), Federal Inland Revenue Service (FIRS)...

We’ll Pursue Expansion Policies To Fight Recession – CBN

1

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the bank will pursue expansionary monetary policies to fight recession because the fiscal policy was already constrained. Emefiele said this was necessary to curb the rising inflation and address recession in the economy. He said this was part of the resolutions of the Monetary Policy Committee meeting held...

FG May Increase VAT Rate By 2.5% In 2021

0

Federal Government on Tuesday disclosed that it has spent N7.09 trillion as at the end of the third quarter of 2020 fiscal year, just as it unveiled plans to introduce additional 2.5% Value Added Tax (VAT) rate in 2021 fiscal year as part of efforts aimed at increasing revenue generation. Minister of Finance, Budget and National Planning, Dr Zainab Ahmed...

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

0

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...

FG Seeks Fresh $1.2 Billion Loan From Brazil

0

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...

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

0

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...

Latest News

Popular News Now