The Senate on Wednesday resolved to invite the Minister of Finance, Mrs. Kemi Adeosun and Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, to brief it on the state of the country’s economy. The invitation followed the adoption of a motion on “urgent need to address present economic state of the nation” Senator Bassey […]
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[T]he Federal Government on Thursday ruled out the possibility of providing bailout funds for state governments to meet their financial obligations, including the payment of salaries of workers, due to declining allocation from the Federation Account. It insisted that rather than providing fresh funds for the states to run their operations, the state governments must […]
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The Minister of Finance, Mrs Kemi Adeosun, says Nigeria will overcome its economic challenges without taking loan facility from the International Monetary Fund (IMF). In a statement issued in Abuja on Saturday, Adeosun made the observation at the ongoing Spring Meetings of the IMF-World Bank in Washington DC in response to why the government has refused […]
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[su_dropcap]T[/su_dropcap]he Finance Minister, Mrs. Kemi Adeosun has set out government’s plan to reset Nigeria’s economy with structured borrowing, targeted investment and diversified growth. Speaking at a special event hosted by the Lagos Business School, she said: “We have inherited a set of conditions that requires us to refine how we collectively work towards ushering in a […]
Read More [su_dropcap]T[/su_dropcap]HE Federation Account Allocation Committee on Tuesday said the country recorded a shortfall of N20.47bn in gross statutory revenue from N290.96bn in January to N270.49bn in February. The Minister of Finance, Mrs. Kemi Adeosun, disclosed the shortfall while addressing journalists shortly after the FAAC meeting for the month of February. The meeting, which commenced at […]
Read More [su_dropcap]T[/su_dropcap]HE Federal Government has resolved to release N350bn into the economy, which has been battered by the sharp drop in the price of crude oil in the global market, as parts of measures aimed at stabilising it. This is one of the outcomes of a two-day retreat organised by the National Economic Council chaired by […]
Read More The Federal Government spent N248bn on foreign trips embarked upon by officials in Ministries, Departments and Agencies of government. The money, according to a statement by the Federal Ministry of Finance, represents 18 per cent of the total overhead expenditure for the period. The statement signed by the Special Adviser to the Finance Minister, Mr Festus […]
Read More THE West African Examinations Council (WAEC) has refuted comments credited to its Registrar, Dr. Iyi Uwadiae, that the council will give the Minister of Finance, Mrs. Kemi Adeosun, a free form to rewrite her O’Level Mathematics paper. The story was an alleged reaction of Uwadiae to claims by Mrs. Adeosun that the council made N16 […]
Read More ACCORDING to sources, Finance Minister, Mrs. Kemi Adeosun, will travel to China next week to negotiate the loan to help fund the record budget spending, financial and government sources were yesterday quoted by News Agency Reuters. Sources said Nigeria has shelved plans to meet investors about returning to commercial borrowing on the Eurobond market. One Nigerian government […]
Read More It was recently reported that Nigeria is seeking for an “emergency loan” of $3.5b to help finance the 2016 Budget. According to the Financial Times, Nigeria is seeking funding of $2.5b and $1b World Bank and Africa Development Bank (ADB) respectively. The medium quoted the Minister of Finance Kemi Adeosun: I’m getting sub 3 per […]
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The Federal Government has asked the African Development Bank for a $1bn (N199bn) loan to help fund an increased budget deficit, the bank said on Tuesday. The AfDB, according to Reuters, stated that it was considering the loan to the continent’s largest economy and oil producer, where the drop in crude prices has hit growth, […]
Read More MINISTER of Finance, Mrs. Kemi Adeosun, says Nigeria is exploring local and domestic sources to fund the N1.8tn deficit in the 2016 budget currently undergoing approval at the National Assembly, Punchng report. She, however, maintained that Nigeria had yet to submit any formal application for loans with any of the multilateral institutions. The minister said […]
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