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The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.

IMF reduces Nigeria’s 2020 growth projection to two percent

The International Monetary Fund (IMF) has revised downward its 2020 Gross Domestic Product (GDP) forecast for Nigeria to two per cent, from the 2.5 per cent it had predicted earlier.

Nigeria inflation hits 12.1 percent

According to data released by the National Bureau of Statistics on Tuesday, the index increased from the 11.98% recorded in December.
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has launched a national tour of the six geo-political zones to sensitise the nation, especially taxpayers, on the 2019 Finance Act.

Nigeria: FIRS sole collector of stamp duty

The federal government has finally put to bed the controversy over who will collect stamp duty has finally been rested.
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has launched a national tour of the six geo-political zones to sensitise the nation, especially taxpayers, on the 2019 Finance Act.

FIRS chief takes Finance Act advocacy to stakeholders

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has launched a national tour of the six geo-political zones to sensitise the nation, especially taxpayers, on the 2019 Finance Act.
THE National Union of Road Transport Workers, NURTW, has said that the presidential taskforce set up to clear the gridlock in Apapa cannot achieve the task, adding that they have failed.

Why Nigeria continues to suffer loss to Apapa gridlock

Over these years, the gridlock has taken a huge toll on businesses along the two nation’s seaports, even as economists and concerned stakeholders lamented that the N18 trillion lost as a result of the unending traffic jam within the zone..
President Muhammadu Buhari

President Buhari commends Abuja Chamber for scaling up economic diplomacy

President Muhammadu Buhari has lauded the Abuja Chamber of Commerce and Industry (ACCI) for scaling up economic diplomacy and establishing bilateral relations with other countries.

CBN: Nigeria’s foreign reserves down by $4.47 billion in 2019

It has been revealed that Nigeria’s external reserves recorded a decline of $4.47bn from $42.54bn as of the beginning of 2019 to $38.07bn as of the end of December representing a decline of 10.5 per cent.
The pound slumped more than one percent versus the dollar and euro Wednesday as Britain’s government moved to extend the suspension of parliament, increasing the likelihood of a no-deal Brexit.

Pound sinks against dollar on Brexit trade deal fears

Sterling slid one per cent versus the dollar on Monday, hit by worries over post-Brexit trade deal negotiations following Britain’s exit from the European Union, dealers said.
The Nigerian Economic Summit Group (NESG) has confirmed that dialogue in national transformation at this year’s economic summit will focus on job creation, youth empowerment and entrepreneurship.

NESG: Nigeria’s rising debt a major concern

The Nigerian Economic Summit Group and the Financial Derivatives Company Limited, led by a foremost economist, Mr Bismarck Rewane, have raised concerns over the country’s high debt level.
The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

AfDB: Africa’s current debts stand at $500 billion

The African Development Bank (AfDB) says the total debt stock of Africa, both external and domestic currently stands at 500 billion dollars.
The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

AfDB: Africa’s economy to rise to 3.9 percent in 2020

The African Development Bank (AfDB) African has projected economic growth to rise from 3.4 per cent in 2019 to 3.9 per cent in 2020 and 4.1 per cent in 2021.
Edo State Governor Godwin Obaseki, has asked the Peoples Democratic Party to show proof of allegations that the state treasury is empty.

Governor Obaseki: Digital economy is Nigeria’s most promising alternative to oil

The Edo State Governor, Mr Godwin Obaseki has called for the adoption of smart Information and Communication Technology (ICT) tools and solutions as an alternative to oil in diversifying the Nigerian economy, warning that the country will not develop if the bulk of the country’s savings is still tied to buying foreign exchange for importation.

Six governors, others for NEXIM South-South enlightenment campaign

The Nigerian Export-Import Bank (NEXIM) will hold a three-day enlightenment and engagement programme in Asaba, the Delta State capital, for the six states in Nigeria’s South-South.
The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.

IMF sets Nigeria’s 2020 growth projection at 2.5 percent

The International Monetary Fund (IMF) in its World Economic Outlook (WEO) released Monday has projected that the Nigerian economy will grow at 2.5 per cent this year and next year, same as it had predicted in its October 2019 WEO.
Nigeria Naira

Why inflation may rise further – analysts

Economists at Financial Derivative Company (FDC) have said the country will experience a rise in the inflation rate and a further decline in its foreign exchange reserves as the government juggles various options to steady the economy on the path of growth in the year.
Manufacturers Association of Nigeria (MAN)

MAN: 1.64 million jobs created by manufacturing sector over time

The Manufacturers Association of Nigeria (MAN) said that at the end of the first half of 2019, an estimated 1,644,392 historical cumulative jobs had over time been created by the sector.
AFDB President Akinwumi Adesina.

AfDB reveals top priority as Akinwumi Adesina visits UK

The African Continental Free Trade Area (ACFTA) will top discussion as Dr Akinwumi Adesina, the President of African Development Bank (AfDB) is expected in London for the milestone investment summit.
The African Export-Import Bank (Afreximbank) says it is providing one billion dollars grant to African countries to support the implementation of the Agreement for the African Continental Free Trade Area (AfCFTA).

NESG: How AfCFTA will impact economy

The Nigerian Economic Summit Group (NESG) has conducted a study on the impact of the African Continental Free Trade Area (AfCFTA) on key macroeconomic variables.

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NBC: Federal government not out to gag Nigerians

The National Broadcasting Commission (NBC), has said the new broadcasting regulations were not intended to gag Nigerians from expressing their views.

141 hospital staff investigated for giving free medicals to friends

Some 141 doctors and paramedics at a public hospital in Rome have been charged with fraud for giving free medical tests to friends and family evading regional taxes, police said on Friday.

Forex: Central bank injects $292.34 million, CNY 22.8 million into Retail SMIS

The Central Bank of Nigeria (CBN) on Friday, February 21, 2020, continued its intervention in the inter-bank foreign exchange market by injecting the sum of $292.34million into the retail Secondary Market Intervention Sales (SMIS).
Kwara State Governor Abdulraham Abdulrazaq

Kwara state-owned newspaper gets acting general manager

A new acting General Manager has been appointed for the Kwara State Printing and Publishing Corporation (The Herald Newspapers).

Imo renames college after late Senator Uwajumogu

The Imo State government has renamed the Imo State College of Education, Ihitte Uboma after the late Senator Benjamin Uwajumogu as a way to mortalizing him for his service to the state.