The Central Bank of Nigeria has called upon the Deposit Money Banks in the country to work towards rescuing the economy as the role of returning it to normalcy remains their responsibility owing to their financial intermediation activities that cut across all sectors. Aside the intervention policies of the CBN, which are extended to the target […]
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The President, Lagos Chamber of Commerce and Industry (LCCI), Dr Nike Akande, has predicted that Nigeria will surmount its economic woes and come out of the recession stronger in 2017. Akande said this on the sidelines of the LCCI 128th Annual General Meeting (AGM) dinner in Lagos. She said that Nigeria, as the giant of […]
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Vice President Yemi Osinbajo has called for increased partnership between public and private sectors to create more jobs for the teeming unemployment youths in the country. He said that the federal government on its part was committed to creating an enabling environment and providing required infrastructure for business to thrive. Osinbajo said that even with […]
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The Federal Government has admitted that amid the economy challenges it is still owing former Presidents of the country nothing less than 10 months allowances, these which including Goodluck Jonathan, Olusegun Obasanjo and Shehu Shagari. This was made know on Thursday when the members of the Senate Committee of Federal Character and Intergovernmental Affairs, led by Senator Tijjani […]
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The group President, Manufacturers Association of Nigeria, Dr. Frank Jacobs, says with the current economic situation, the country may not be out of recession in 2017. Jacobs on Wednesday in Abuja said that there was the need to introduce policies and initiatives to control the economy. Jacobs said that government needed to take steps to […]
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President Muhammadu Buhari has asked the National Assembly to approve his administration’s external borrowing plan of $29.96bn amid recession for the execution of key programmes and infrastructural projects across the country. According to correspondent, the sum, if approved, will be spent on projects in this year’s budget and up till 2018. The President also sought […]
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The current recession rocking the Nigerian economy has hit one of the biggest employers of labour in the country outside of the government as the Dangote Group, belonging to Africa’s richest man, Aliko Dangote, has fired 48 members of staff. According to correspondents, those sacked were made up of 36 expatriate and 12 Nigerian workers from […]
Read More The House of Representatives said on Monday that lawmakers were awaiting President Muhammadu Buhari’s response to the National Assembly’s invitation to address them on the state of the economy. The country is “technically in recession,” a development that forced both chambers of the National Assembly to invite the President to explain his plans on how to […]
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The Minister of Power, Works and Housing, Babatunde Fashola has said Nigeria is investing massively in road construction, public housing and other infrastructure as part of measures to take the country out of recession. He said fund had been released for the payment of debts owed contractors, noting that this had led to the return of most of […]
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National Assembly has invited President Muhammadu Buhari to brief a Joint Session of the Assembly on steps being taken to steer the nation out of recession. The resolution was reached today at the Senate when it concurred to an original resolution of the House of representatives inviting the president for the meeting. The lawmakers answered […]
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The Nigerian Senate has resolved to prioritize and fast track the passage of the Petroleum Industry Bill (PIB) and other legislations capable of contributing to the quick recovery of the national economy, and provide favourable level playing environment for both local and foreign investors. This was part of the 20 points resolution passed by the […]
Read More EU official, Fillippo Amato, has advised the federal government to devalue the naira as part of measures to tackle the economic recession. Amato, Counsellor, Head of Trade and Economics Section of EU, made this known in an interview with journalists yesterday. The EU official, according to the News Agency of Nigeria, said recession could not […]
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