Nigeria is in the worst position among major oil exporting countries in the Middle East, Africa and parts of Europe to have balanced budgets this year, with oil forecast to average $52.50 per barrel, according to Fitch Ratings Limited. Report shows that the country needs an oil price of $139 per barrel to balance its […]
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An economist, Prof. Pat Utomi, has said that poor budget management process is responsible for the current economic recession in Nigeria and not the fall in oil prices. Utomi made the observation in Awka on Wednesday while speaking at the maiden edition of Dr Emmanual Egboga Budget Roundtable, organised by the Nnamdi Azikiwe University Business […]
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The International Monetary Fund (IMF) warned Nigeria its economy needs urgent reform in a report published on Wednesday that highlighted the risks to growth for the recession-hit country and the dangers of a volatile foreign exchange market. The document, a report from IMF staff which Reuters saw an earlier version of last month, outlines a […]
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Zamfara State Governor, Alhaji Abdulaziz Yari, on Tuesday made it known that the Chinese government had offered to open a credit line of $4.5bn for Nigeria to improve agriculture in the country. Yari disclosed this to State House correspondents after he and the Minister of Agriculture, Chief Audu Ogbeh, briefed President Muhammadu Buhari on the development […]
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Products made in Germany enjoy the highest reputation among consumers worldwide, according to a new study. Statista’s Made-In-Country-Index (MICI) 2017, shed light on the global reputation of products produced in 49 different countries (plus the EU). Germany’s far-reaching reputation as a producer of top-quality products hasn’t been dented by Volkswagen’s emissions scandal and the nation […]
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An economist, Dr Aminu Usman says he is in support of declaration by the International Monetary Fund (IMF) that the recently released Economic Recovery and Growth Plan (ERGP) will resuscitate the country’s economy. Usman, a lecturer at the Department of Economics, Kaduna State University said this in an interview with the News Agency of Nigeria […]
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Nigeria’s representative at the International Civil Aviation Organisation, Capt. Nuhu Musa, says the body plans to re-audit the country’s Accident Investigation Bureau, in conjunction with the United Kingdom and Australia, in order to improve its capacity for handling accidents in the aviation sector. Musa stated this during a meeting with the Commissioner, AIB, Mr. Akin […]
Read More Despite the lingering economic recession, Nigerians deserve value for their money, the Managing Director/CEO of Cozy Choice Concept Limited, Sam Bader has said. Bader made this appeal while speaking at the official launch of Cozy branded furniture in Lagos. Cozy Concept furniture recently made in-roads into the market with a promise to ease the purchase […]
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The Bayelsa State House of Assembly on Friday passed the state’s 2017 Appropriation Bill of N243.2 billion. The Speaker of the House, Mr Konbowei Benson, expressed optimism that the funds would be judiciously used to improve the quality of lives of the people. A breakdown of the 2017 Appropriation Bill showed that N191 billion was […]
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CBN has made moves to strengthen the naira currency to boost domestic manufacturing and lift the economy out of recession caused by the slump in global oil prices. But analysts said the measures do not go far enough and foreign investment would only return to Africa’s most populous nation once the market determines the currency’s […]
Read More The Nigerian Government yesterday extends the implementation of the capital component of the 2016 budget from March 31 to May 5, or till the passage of the 2017 budget, whichever is earliest. The Ministry of Finance said in a statement that already, the Accountant-General of the Federation, Alhaji Idris Ahmed, had issued a circular to […]
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Farmers have started accessing fertilisers at the new rate, which is about 50 per cent less than what obtained some weeks ago, Punchng has learnt. The Minister of Agriculture and Rural Development, Mr. Audu Ogbeh, had in January announced that the price of fertilisers would crash by half, down from N12,000/N10,000 to around N5,000. Ogbeh also […]
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