The Director-General, Budget Office of the Federation, Mr Ben Akabueze, says there is no padding in the 2017 Budget as being alleged in some quarters. He said this at a news conference in Abuja on Thursday while clarifying issues raised concerning the budget. Akabueze said that ‘padding’ was a term used to describe unauthorised or […]
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The International Monetary Fund on Thursday urged Nigeria to step up its economic reform efforts before the opportunity for reforms becomes more limited. “Urgency is needed in implementing a coherent and credible package of monetary, fiscal and structural policies as the window for bold reforms is closing as the 2019 elections are approaching fast,” IMF […]
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UN aid agencies and donor countries gathered in Oslo on Thursday for a two-day meeting to raise emergency aid for millions of people threatened by famine in northeastern Nigeria, a Boko Haram stronghold. The UN aims to raise up to 1.4 billion euros ($1.5 billion) in commitments throughout 2017 for the Lake Chad region, which […]
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Nigerian protesters on Thursday demanded that South African citizens and businesses leave the country and vandalised the head office of mobile phone giant MTN in Abuja in retaliation for anti-Nigerian violence in South Africa. The National Association of Nigeria Students (NANS) said it had given South Africans 48 hours to get out otherwise the attacks […]
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The Senate has said it will consult with its legal team for advice on the decision of the Acting President, Prof. Yemi Osinbajo, to withhold assent to four bills passed by the National Assembly. The bills are Dangerous Drugs (Amendment) Bill 2016, National Lottery (Amendment) Bill 2016, Agricultural Credit Guarantee Scheme Fund (Amendment) Bill 2016, […]
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Economic and financial experts say it is uncertain that the latest policy action on foreign exchange introduced by the Central Bank of Nigeria will work. The CBN had on Monday announced a new policy decision aimed at boosting forex supply to end-users in order to ease the pressure at the parallel market. Economists said the […]
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First City Monument Bank Limited has introduced a three-month free banking service for prospective customers of the bank operating in the Small and Medium-scale Enterprises. The offering, which began on February 1, would end on April 30, the lender said in a statement on Wednesday. This is aimed at encouraging Nigerians to take active interest […]
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Africa wants 10 places in the 48-nation World Cup from 2026, FIFA president Gianni Infantino was told in Johannesburg Wednesday. The Swiss-Italian was attending a two-day meeting of African national football association presidents behind closed doors. “All associations back an expanded World Cup and Africa hopes for 10 places,” said South African FA president Danny […]
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An extraordinary solar system of seven Earth-sized planets orbiting a dwarf star could include at least three worlds on which life may have evolved, scientists believe. The cool dim star, known as TRAPPIST-1, can be considered a close neighbour since it is only 39 light years away. Six of its “exoplanets” lie in a temperate […]
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Acting President Yemi Osinbajo has requested the National Assembly’s approval for the issuance of US$ 500 million Eurobond in the international capital market for the funding of 2016 budget deficit. In a letter to the Speaker, House of Representatives, Yakubu Dogara, Osinbajo said that the proceeds of the Eurobond would be used to execute some […]
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The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, says the Federal Government is targeting the production of seven million tonnes of rice by 2018. Ogbeh told newsmen on Wednesday that the target, which would be achieved by the second quarter of 2018, was to meet the national consumption rate. He said, “I think […]
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Nigeria wants to borrow at least $1 billion from the World Bank and to sign within months for a $1.3 billion loan from China to fund railway projects, Finance Minister Kemi Adeosun said on Tuesday. Africa’s biggest economy needs to plug a gap in its record 7.3 trillion naira ($23.17 billion) 2017 budget, which boosts […]
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