IMF
Minister: Unifying Naira’s exchange rate will take time
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.
Nigerian government celebrates rising price of crude oil in the global market
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”.
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”.
Sudan sharply devalues currency as it aims for debt relief
Sudan’s central bank sharply devalued the country’s currency on Sunday, announcing a new regime to “unify” official and black-market exchange rates.
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.
IMF endorses CBN’s policy on cryptocurrency, seeks FX rates unification
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.
Group urges foreign officials to locate, freeze Myanmar assets
Myanmar’s military may have access to more than $5bn in foreign exchange reserves that it could use to further strengthen its hold following a coup on February 1, according to an activist group.
IMF: Nigeria vowed to avoid fuel subsidy’s return
The International Monetary Fund says Nigeria has expressed strong commitment to avoid the return of fuel subsidy and to put an end to electricity tariff shortfalls by June this year.
Nigeria to increase borrowing limit in new debt management plan
On Wednesday, the Debt Management Office released the federal government’s Medium-Term Debt Management Strategy on its website, seeking to increase total public debt as a percentage of gross domestic product from 25 percent to a maximum of 40 percent.
WHO urges coronavirus vaccination as death toll rises in Africa
Deaths from COVID-19 across Africa have increased by 40 per cent in the last 28 days compared to the previous 28 days, the World Health Organisation (WHO) has said.
IMF: Dangote Refinery has potential of bailing Nigeria from economic downturn
The International Monetary Fund, the global financial watchdog, is projecting that Nigeria’s Dangote Refinery would provide an elixir for the country’s economy when it is completed and starts production by 2022.
Nigerian government approves new debt management strategy
The Federal Executive Council (FEC) has approved a new Medium-Term Debt Management Strategy for Nigeria (MTDS) for the period 2020-2023.
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.
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.
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.
IMF chief warns of “lost generation” if low-income countries don’t get more help
The head of the IMF on Friday urged advanced economies to provide more resources to low-income countries, warning of an emerging “Great Divergence” in global growth that could risk stability and trigger social unrest for years to come.
IMF: Economic outlook for most countries remain uncertain
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has noted that although the IMF has given financial support to member countries to enable the, deal with the impact of the coronavirus on their economies, the outlook remains uncertain.
IMF says fiscal support needed until recovery takes hold
Global debt likely reached 98% of economic output at the end of 2020 as governments poured in nearly $14 trillion in fiscal support to battle the coronavirus pandemic, the International Monetary Fund said on Thursday, urging that fiscal support stay in place until recovery is firmly underway.
IMF: Coronavirus vaccines rollout gives global economy fresh prospects
The International Monetary Fund has said that the approval and rollout of vaccines have boosted expectations of a global recovery and lifted risk asset prices, despite rising COVID-19 cases and softening economic activity, not only in late 2020 hope of greater prospects in 2021.
CBN: National Theatre renovation contract to be awarded ‘next couple of weeks’
The Central Bank governor, Godwin Emefiele, has expressed hope that a contract for the renovation of the National Art Theatre would be awarded in a few weeks.
IMF revises Nigeria’s 2021 GDP forecasts to 1.5 percent
The International Monetary Fund (IMF) in its World Economic Outlook (WEO) update released yesterday has projected that the Nigerian economy will grow by 1.5 per cent this year, slightly lower than the 1.7 per cent it had predicted for the country in its previous forecast.
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NCDC activates Ondo state public health laboratory to its network
The Nigeria Centre for Disease Control (NCDC) says it has activated the inclusion of the Ondo State Public Health Laboratory to its Molecular Laboratory Network in the country.
Fraud: Court disqualifies lawyer as defence witness
The trial-within-trial of a suspected serial fraudster, Scales Ishola Olatunji was cut short on Thursday following a ruling by Justice Agatha Okeke of the Federal High Court sitting in Uyo, Akwa Ibom State which disqualified one Peter Mba from giving his testimony as a defence witness in the matter.
Senator Kalu urges Nigerian government to set up joint security committee
Senate Chief Whip, Orji Kalu, has called on federal government to set up a joint committee of representatives of all security forces to help existing commands to fast-track the release of the abducted students in Niger.
Customs seizes tramadol, used clothing, others worth N223 million in Lagos
The Customs Area Controller, Apapa Command, on Thursday disclosed the seizure of tramadol, used clothing and others with a Duty Paid Value of N223m.
Minister: Third Mainland Bridge will be totally reopened ‘this weekend’
Minister of Works and Housing, Mr Babatunde Fashola, said on Thursday that the Third Mainland Bridge in Lagos undergoing repairs, would be totally reopened to traffic ‘’this weekend’’.
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Orlu: 20 IPOB members arrested as Army confirms killing of four soldiers
Nigerian security operatives in an operation involving the Army, Air force and the Police in Orlu community of Imo State have arrested 20 members of the proscribed Indigenous People of Biafra, IPOB, according to PRNigeria.
Nigerian Breweries declares N337 billion revenue for 2020
The revenue represented an increase of 4.3 per cent compared with N323 billion recorded in the corresponding period of 2019.
Napoli provide positive update on Victor Osimhen
Victor Osimhen will be assessed daily and gradually resume training following his head injury scare in Napoli’s 4-2 away defeat at Atalanta on Sunday.
![Director General of NCDC, Dr Chikwe Ihekweazu addressing the press at the presentation of 15,000 COVID-19 test kits to NCDC by UNICEF in Abuja on Tuesday, Sept 29, 2020. [Twitter-@NCDCgov]](https://www.today.ng/wp-content/uploads/2020/11/13103153-150x150.jpg "NCDC places Nigeria at ‘moderate risk’ of Ebola")
NCDC places Nigeria at ‘moderate risk’ of Ebola
The Nigeria Centre for Disease Control has placed Nigeria at ‘moderate risk’ of Ebola outbreak as Guinea battles the contagion.
![The IOM says at least 20,000 migrants died since 2014 while trying to reach Europe crossing the Mediterranean, including 161 this year [Alberto Pizzoli-AFP]](https://www.today.ng/wp-content/uploads/2021/02/20131340-150x150.jpg "Italy’s coastguard searches for survivors after migrant shipwreck")
Italy’s coastguard searches for survivors after migrant shipwreck
The Italian coastguard has launched a rescue operation after a boat carrying at least 50 migrants and refugees capsized overnight off the coast of Lampedusa.