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Nigeria: Borrowing Our Way Out Of Recession

Nigeria: Borrowing Our Way Out Of Recession

We must spend our borrowings on wealth-creating ventures, as that is the only way to jump start the economy. Every member of the Buhari administration who has spoken about the current recession has assured Nigerians that the recession will end “very soon”. Unfortunately, (typical of government in our climes) no one has defined the time […]

FG Confident In Emefiela, Says Economic Team’s solid

FG Confident In Emefiela, Says Economic Team’s solid

The CBN governor has been under intense pressure from economic experts and various groups since Nigeria’s economic recession started earlier this year. The call for sack of Central Bank of Nigeria (CBN) governor, Godwin Emefiele may have hit a brick wall on Sunday in Abuja as the presidency have expressed confidence on the configuration of […]

Experts Predict 2017 Will Be Good For Businesses

Experts Predict 2017 Will Be Good For Businesses

Analysts and business operators say with the various reforms in the country, the economy is expected to pick up from its current state of recession. Having faced one of its most trying times, there is a rising optimism in the Nigerian business environment that the fortunes of the country would turn for the better in […]

Fuel Subsidy Back As Oil Price Instability Makes N145 Petrol Price Unsustainable

Fuel Subsidy Back As Oil Price Instability Makes N145 Petrol Price Unsustainable

Nigeria has been battered by falling oil prices and a cut in production due to militant attacks on oil pipelines. Oil is the source of 90 percent of dollar earnings. Fuel subsidy is effectively back on the books of the Nigerian National Petroleum Corporation (NNPC) following the sharp rise in crude oil prices after the […]

FG To Prosecute Revenue Agencies For Unremitted N450bn

FG To Prosecute Revenue Agencies For Unremitted N450bn

The Nigerian Federal Government on Thursday said it’s set to prosecute any official of revenue generating agencies indicted in the audit report, which revealed that N450bn was not remitted to the Consolidated Revenue Fund Account. The unremitted amount, which involved about 33 revenue generating agencies of government, was for the 2010 to 2015 fiscal periods. […]

Economic Recession Is Stepping Stone To Nigeria’s Prosperity – CBN

Economic Recession Is Stepping Stone To Nigeria’s Prosperity – CBN

If properly handed, Nigeria’s current economic challenges can pave the way to future prosperity for the country, the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele said. This, he said was the reason why the federal government and the central bank are constantly formulating and re-evaluating policies they believe would set the country on the path […]

Nigeria To Start Rice Exportation In 2017 – CBN

Nigeria To Start Rice Exportation In 2017 – CBN

The Central Bank of Nigeria has said that Nigeria will begin to export rice to other countries before the end of 2017. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okoroafor, said this on Tuesday during a sensitisation/awareness programme for farmers in Bayelsa State under the apex bank’s Anchor Borrowers’ Programme. Okoroafor, who said the […]

Lagos State Budgets N813bn For 2017

Lagos State Budgets N813bn For 2017

The Lagos State governor, Akinwunmi Ambode has presented the 2017 budget proposal of N813bn to the state House of Assembly, saying his administration will continue with infrastructural renewal of the state. Ambode, who christened the budget as ‘The Golden Jubilee Budget,’ as it coincided with the state’s 50th Anniversary, explained on Tuesday that the budget […]

A Throwback On The Biting Recession

A Throwback On The Biting Recession

A lot still needs to be done to lay the foundation for economic recovery, sustainable long-term economic growth and inclusive prosperity. The economy must indeed be diversified. It is a gut-wrenching reality that the economic recession into which Nigeria lapsed officially a few months ago has continued to bite even harder than envisaged. Indeed, all […]

Dollar Drops in Quiet Trading

Dollar Drops in Quiet Trading

The dollar fell 0.3% against the Mexican peso, 0.4% against the Indian rupee and 0.5% against the South Korean. The dollar fell broadly Friday as investors took profits on a powerful rally that has driven the U.S. currency to 14-year-highs this week. The WSJ Dollar Index, which measures the U.S. currency against 16 others, fell […]

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