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CBN boss pledges accommodative monetary policy to boost economic growth

Emefiele, said this on Friday, while speaking at a CBN/Bankers’ Committee’s initiative for economic growth, which is a one-day special summit on the economy by bank chief executive officers.

UN deputy chief: Nigeria’s economy moving in right direction

Nigeria is moving in the right direction economically but its movement is not fast, the United Nations has said.
Nigeria Naira

Odua Investment: Southwest GDP worth over $80 billion

With a population of over 40 million people, the South West Gross Domestic Product (GDP) is estimated to be worth over $80 billion.
Manufacturers Association of Nigeria (MAN)

MAN: Nigeria’s economy won’t improve if manufacturing sector doesn’t

The Manufacturing Association of Nigeria (MAN) has tasked the government to boost the manufacturing sector to compete favourably in Africa, especially with the take-off of the African Continent Free Trade Agreement (AFCFTA).

Fitch revises Nigeria’s 2021 GDP forecast to 1.6%

It pointed out that rising oil exports would be the main growth driver for the country in 2021, while consumer spending and business investment were likely to be subdued because of persistently high inflation and the slow rollout of a Covid-19 vaccine.

NCC highlights role of telecoms in Nigeria’s exit from recession

The Nigerian Communications Commission (NCC) has highlighted the role played by the telecommunications sector in lifting the country out of recession in the recently released fourth quarter Gross Domestic Product (GDP) figures for the fourth quarter of 2020.

IMF, Ethiopia agree framework for loan deal reviews

The International Monetary Fund said on Tuesday it had agreed a blueprint for the completion of reviews of Ethiopia’s loan programme, taking account of the impact of the coronavirus and the country’s “domestic security situation”.
Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, disclosed this in a statement in Abuja.

Presidency: Exit from recession key indicator of sustainability plan’s performance

Nigeria’s prompt exit from recession is a key indicator of the success of the ongoing Economic Sustainability Plan (ESP) approved by the Federal Government, the Presidency has said in a statement on Sunday in Abuja.
The Minister of Information and Culture, Alhaji Lai Mohammed, who disclosed this at a media briefing on Monday in Lagos, said centres were also built in collaboration with states and the private sector to isolate and treat cases of COVID-19.

Minister: Nigeria did not exit recession by accident

The Minister of Information and Culture, Alhaji Lai Mohammed, says Nigeria did not exit the latest recession by accident, but with “hard work, foresight and deliberate planning by the government.”
The Commissioner for Investment, Trade and Industry, Mr Muyiwa Olumilua, stated this during a one-day sensitisation workshop with the theme- “Making Economy A Private Driven Economy” held in Ado Ekiti.

Ekiti moves to reposition MSMEs for economic growth

The government had before now reconstituted a 22-member Council to address the myriad of challenges confronting MSMEs in Ekiti , with intention to upscale industrial growth and development .

NEPC chief: Nigeria to exit dependence on oil revenue in 10 years

The Executive Director/CEO of the Nigerian Export Promotion Council, NEPC, Mr Segun Awolowo, yesterday assured that given the steps being taken to improve the non-oil exports, Nigeria will exit its dependence on crude oil revenue in the next 10 years.
Nigeria Naira

Economic expert: Key lessons learnt from exiting recession

Economic expert, Prof Uche Uwaleke has listed four major lessons to be learnt from National Bureau of Statistics (NBS) report which stated that Nigeria has exited the current economic recession.
National Bureau of Statistics NBS

Nigeria rebounds from recession with 0.11% GDP growth

The National Bureau of Statistics (NBS) says Nigeria’s GDP grew by 0.11 per cent in Quarter Four (Q4) 2020, from the 6.11 per cent contraction in Q3, signalling a gradual recovery from recession.
President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.

NBS: Nigeria’s economy contracted 1.92% in 2020

Nigeria’s economy contracted by 1.92% in 2020, the statistics office said, marking the country’s second full-year recession since 2016, as a result of a fall in revenues due to an oil price slump on top of the COVID-19 pandemic.
Nigeria Naira

Nigeria inflation hits 16.47 percent

Nigeria’s headline inflation rose to 16.47 per cent in January 2021, the National Bureau of Statistics said on Tuesday.

NIPC: Foreign investments in Nigeria fall to $16.7 billion in 2020

The Nigerian Investment Promotion Commission (NIPC) said it tracked $16.74 billion investment announcements in Nigeria for the year 2020, representing 44 percent less than the $29.91 billion tracked in 2019.
Japan’s economy booked double-digit growth in the last quarter of 2020, the second quarter in a row, continuing to recover following a historic recession, a government report showed on Monday.

Japan’s economy expands after recession

Japan’s economy booked double-digit growth in the last quarter of 2020, the second quarter in a row, continuing to recover following a historic recession, a government report showed on Monday.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Economic experts proffer solutions to funding budget deficit

Economic experts have proffered various means of funding N5.23 trillion 2021 budget deficit other than the ways and means that the International Monetary Fund, IMF, has cautioned the Central Bank of Nigeria, CBN, from adopting.
FILE PHOTO - Oil pours out of a spout from Edwin Drake's original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania U.S., October 5, 2017. REUTERS-Brendan McDermid

Analysts foresee faster economic recovery as oil price hits $60

Analysts yesterday forecasted a faster economic recovery for Nigeria as crude oil prices, at $60 per barrel, hit a new high since February 2020.
The logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido

IMF: Nigerian economy at ‘critical juncture’

The International Monetary Fund (IMF) on Monday said the Nigerian economy is at a critical juncture, having been weakened by falling per capita income, double-digit inflation, limited buffers, significant governance vulnerabilities, and the global pandemic.

IMF: Nigeria’s economic outlook remains challenging

The International Monetary Fund (IMF) says that Nigeria’s outlook remains challenging and charged the federal government to urgently undertake policy adjustments.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

World Bank: Coronavirus pushed 150 million into poverty in 2020

Over 150 million people were pushed into extreme poverty in the year 2020 as a result of the negative effects of the COVID-19 on global economy, making them to join hundreds of millions of people living below poverty line, a report by the World Bank has revealed.

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The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Nigeria’s central bank plans to strengthen Naira, economy through $15 billion Dangote refinery

The Central Bank of Nigeria, CBN, has concluded plans to strengthen the Naira, and by extension the nation’s economy through the $15 billion Dangote Refinery.
Paris Saint-Germain are making a move for Manchester City striker, Sergio Aguero.

Manchester City boss: Kun Aguero needs time to return to best form

Manchester City striker Sergio Aguero needs time to rediscover his best form after a lengthy spell out and the Argentine will have to fight for his spot in the squad, manager Pep Guardiola said.
More than 20 million people have had their first dose of a coronavirus vaccine in the UK.

UK coronavirus vaccination hits 20 million mark in Europe’s fastest jab rollout

More than 20 million people across the United Kingdom have now received their first COVID-19 vaccine shot, data showed on Sunday as the country made more progress with Europe’s fastest vaccination programme
The Enugu Electricity Distribution Company (EEDC) says it has started the upgrade and migration of its customers to improve electricity service delivery within the entire South-East from Nov. 1.

EEDC: South-East customers not paying electricity bills

The Enugu Electricity Distribution Company has decried poor payment culture by its post-paid customers in the South-East despite the steady electricity supply improvement.
The decision not to award Manchester United a penalty against Chelsea after Callum Hudson-Odoi handled in the area prompted a confused reaction from Red Devils defender Luke Shaw.

Luke Shaw reveals what referee told Harry Maguire about awarding a penalty

United boss Ole Gunnar Solskjaer was in no doubt his side should have been awarded a penalty, and claimed Attwell’s alleged comment to Maguire after the incident would not show the referee in a good light.

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In a demonstration to tackle the menace of ghost workers that has continue to drain the coffers of government, Bauchi State Governor, Sen Bala Abdulkadir Mohammed will hold a public parley with all the stakeholders involved in the payment of workers salaries in the state.

Bauchi governor revokes Zaki palace contract

Bauchi State Governor Bala Mohammed Abdulkadir has revoked a N75 millin, contract awarded for the renovation of Zaki District Head’s Palace which was burnt down to ashes during the previous administrations.
The Commander, U.S. Africa Command, U General Stephen Townsend, wrapped up a three-day West African visit February 22-25, 2021, with a stopover in Nigeria to meet with the nation’s leaders and further the long-standing partnership.

U.S. Africa Command leadership visits Nigeria on security cooperation

The Commander, U.S. Africa Command, U General Stephen Townsend, wrapped up a three-day West African visit February 22-25, 2021, with a stopover in Nigeria to meet with the nation’s leaders and further the long-standing partnership and security cooperation between the two countries.
The Nigeria Centre for Disease Control (NCDC) has announced 322 new COVID-19 cases in the country, bringing the total number of infections to 52,227.

Nigeria records 655 new coronavirus infections, 11 deaths

The Nigeria Centre for Disease Control (NCDC) has recorded 655 new cases of COVID-19 on Wednesday, bringing the total number of infections in the country to 153,842.
Former Chairman of the Cross River State Universal Basic Education Board, Stephen Odey, has picked the Peoples Democratic Party ticket for the Cross River North Senatorial By-election scheduled for October 31, 2020.

Senator Odey: Supreme court ruling don’t affect my position in the senate

The senator representing Cross River North senatorial district, Senator Stephen Adi Odey has said that the supreme court ‘preliminary objections’ ruling does not affect his position as the senator representing the senatorial district.

South-west PDP holds zonal caucus meeting in Ibadan, harps on unity

Leaders of the People’s Democratic Party (PDP) in the South-West Zone held a zonal caucus meeting in Ibadan on Tuesday, where they stressed the need for a united front ahead of the zonal congresses of the party slated for March 6.