Economy: Ikpeazu Charges Abia MDAs On Increasing IGR
Governor Okezie Ikpeazu of Abia State has directed all MDAs and LGAs in the state to comply fully with Abia State Revenue Laws and the Abia State Internal Revenue Service (ABIRS) directives in order to achieve the much needed revenue for state development. He gave this charge last week when he met with members of the State IGR Council...
Have Faith In My Father, Seyi Tinubu Tells Nigerians As Hardship Bites Harder
Seyi, eldest son of President Bola Tinubu, has urged Nigerians to endure the economic hardship being witnessed in the country. Nigerians have been complaining bitterly about the high cost of living, food inflation and hardship in the nation. In a post via Instagram on Monday, the president’s son, who was actively involved in the election campaign, recalled the president’s statement from...
How Nigeria Spent N896.7bn On Debt Servicing In Q1’22
Nigeria spent N896.7 billion on domestic and foreign debt servicing in the first quarter of 2022, Q1’22 , representing a 12 per cent year-on-year (YoY) decline from N1.02 trillion spent in the corresponding period of 2021. In its External and Domes...
EFCC Accuses Banks Of Aiding 70% Of Financial Crimes
The Economic and Financial Crimes Commission, on Monday, indicted banks as being linked to about 70 per cent of the financial crimes in Nigeria. EFCC’s Chairman, Ola Olukayode, disclosed this while speaking in Abuja at the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria. He pointed out that the banking sector was...
Nigeria’s Economy Heading Towards Recession – Finance Minister
Zainab Ahmed, the minister of finance, budget and national planning, says the economy is heading towards a recession. However, Ahmed projected that the extent of the recession can be mitigated if the economic stimulus plans are implemented. The minister told journalists after the national economic council meeting on Thursday that the COVID-19 pandemic has negatively impacted crude oil prices and “the impact...
FG Has No Business Managing Oil Refineries – Osinbajo
Vice President Yemi Osinbajo has restated the resolution of the Buhari administration that the Federal Government has no business running oil refineries in Nigeria. Speaking at a virtual meeting organised for the All Progressives Congress (APC), social media bloggers and influencers at the ruling party’s secretariat in Abuja on Monday, the Vice President indicated that the Nigerian government sees the...
After Lagos Stampede, Customs Suspends Food Distribution
The Nigeria Customs Service has announced the temporary suspension of the national food distribution initiative which it started it Lagos over the weekend over the unfortunate stampede which led to fatalities. The Service, in a statement by its National Public Relations Officer, Abdullahi Maiwada, said the intervention was aimed at alleviating the hardships faced by Nigerians and improving access to...
World Bank President Visits Nigeria, To Focus On Job Creation, Energy
The President of World Bank, Ajay Banga is set to commence a three-day visit to Nigeria which will focus on job generating avenues for teeming Nigerian young population as well as bridging the country's energy gap, the international lender said in a statement on Tuesday. The visit on Thursday will see the World Bank chief meet with the President of...
Gov. Sani Reveals Actual Debt Burden Inherited From Predecessor, El-Rufai
Kaduna State Governor, Uba Sani, has said his administration inherited a huge debt burden of $587 million, N85 billion, and 115 contractual liabilities from the previous administration of Nasir El-Rufai. Governor Sani lamented that due to the rise in the exchange rate, the state is now paying back almost triple of what was borrowed by the previous administration. Governor Sani, who...
Agricultural Development: FG Pledges Readiness To Carry Abia Along
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...
