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An renowned economist, Dr Paul Alaje, has frowned at a situation whereby Nigeria spends up to 60% of its revenue on debt servicing, describing the development as disturbing and worrisome.
India’s economy grew 0.4 per cent year-on-year in the final quarter of 2020, official data showed Friday, ending its first recession since independence as easing coronavirus restrictions sparked a modest recovery. The country has struggled...
The Minister of Aviation, Sen. Hadi Sirika, on Thursday received a new aircraft brought by Allied Air at the Nnamdi Azikiwe International Airport, Abuja for the distribution of COVID-19 vaccines across the country.
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.
With a population of over 40 million people, the South West Gross Domestic Product (GDP) is estimated to be worth over $80 billion.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, Thursday said a supplementary budget would be presented to the National Assembly for COVID-19 vaccines and vaccination of frontline workers.
The total borrowing of the country as of 31 December is 21.6 per cent of the GDP. So, if we were not looking at adding the other category of loans that I mentioned, we don’t even need to increase that at this time As of 2019, the debt to GDP ratio was 19.2 per cent so only two per cent was added.
The federal government has described as a welcome development, the rising price of crude oil in the global market, saying, “this is a good omen for Nigeria”.
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.
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.
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.
Former Vice President, Alhaji Atiku Abubakar has commended President Muhammadu Buhari’s willingness to privatize the nation’s existing refineries and other assets to revamp the country’s economy.
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 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.
South Africa’s consolidated fiscal deficit is expected to narrow this year because of an economic rebound, although the long-term trend of higher debt remains unchanged due to COVID-19 and pre-existing spending, a Reuters poll forecast on Friday.
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.
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.
The International Monetary Fund (IMF) has expressed its support for the recent directive of the Central Bank of Nigeria (CBN) to financial institutions to ban transactions with cryptocurrency.
Mexico on Wednesday made a plea at the U.N. Security Council for countries to stop hoarding vaccines against COVID-19 as poorer ones fall behind in the race to vaccinate their citizens.
The Nigeria Labour Congress (NLC) on Wednesday held their National Executive Council (NEC) meeting, at the Nigerian Airforce Conference Centre, Abuja, where they lamented the precarious state of insecurity and economic woes in the country.
Twitter introduced a limited version of the Clubhouse competitor on iOS in January. While any users of Twitter’s iOS app can join and listen to Spaces, only a few can host them at the moment.
Rivers State Governor, Nyesom Wike, on Tuesday, brokered a truce between the Governor of Benue State, Samuel Ortom and Governor of Bauchi State, Senator Bala Mohammed in Port Harcourt.
FC Barcelona and Atletico Madrid will have to cut down the costs of their squads by more than 35 million euros ($42.14 million) following new salary limits imposed by La Liga on Tuesday to cope with the financial impact of the Covid-19 pandemic.
Gov. Douye Diri of Bayelsa on Tuesday proposed that 10 per cent of derived oil revenue be provided in the Petroleum Industry Bill (PIB) for the host communities.
Police in Nasarawa state Tuesday announced the arrest of two suspected notorious armed robbers who have been terrorising Nasarawa and its environs and recovered fire arms from them.
The Ministry of Mines and Steel Development is considering disbursing N200 million to 100 artisanal miners to boost mining activities in Nigeria.
Kylian Mbappe will inform Paris Saint-Germain he wants to leave the Ligue 1 giants this summer – with Liverpool his most preferred destination.
One of the victims of last Friday’s abduction of Zamfara State Government Girls Secondary School in Jangebe, Hafsat Anka, said the captives threatened to kill, fry and eat them if they misbehaved.
A group of youths, under the aegis of the Ogun East Youths for Good Governance, has condemned the arrest and detention of the Deputy Speaker, Ogun State House of Assembly, Rt. Hon. Oludare Kadiri, by the police over alleged invasion and assault.
Mafia-type organisations, often based in eastern Europe, are likely to have been behind a recent wave of cyber attacks on French hospitals, rather than foreign powers, said the French minister for digital technology Cedric O on Thursday.