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Zainab Ahmed, the minister of finance, budget and national planning, says state and local governments share some of the responsibility to fix roads in Nigeria.

Minister: Nigeria won’t stop borrowing

Notwithstanding Nigeria owing $86.39 billion (N32.9 trillion) to external creditors, the nation will continue to borrow to finance infrastructural development, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said yesterday.

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.

How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost

In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service.
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.

ICPC uncovers budget fraud in federal MDAs

An investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on Wednesday said it has uncovered deep-seated corruption bordering on budget manipulation by various Ministries, Departments and Agencies (MDAs).
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.
FILE PHOTO - A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS-Yuriko Nakao-File Photo

Forex: Nigerian manufacturers seek policy review, rates unification

Manufacturers and industrialists on Wednesday appealed to the Federal Government and the Central Bank of Nigeria for a review of the available foreign exchange (FX) policies in the country.
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.
The Nigeria Economic Summit Group (NESG) has advised the Federal Government to always consider its economic policy choices, before taking decision, in order to FastTrack economic growth, its recently launched 2021 Economic Outlook has said.

Report: NESG describes closure of land borders as wrong policy choice

The Nigeria Economic Summit Group (NESG) has advised the Federal Government to always consider its economic policy choices, before taking decision, in order to FastTrack economic growth, its recently launched 2021 Economic Outlook has said.
The Ekiti State Governor, Kayode Fayemi, on Tuesday, briefed Mr Buhari on the limitations of the distribution of palliatives to vulnerable persons to curb the economic impact of the coronavirus.

NGF: Nigeria to get 140 million doses of coronavirus vaccines in 2021, 2022

The 36 state governors under the aegis of the Nigeria Governors’ Forum, NGF, have disclosed that the country will take delivery of 80 million doses of COVID-19 vaccines to cover 40 percent of the nation’s population this year, while another 60 million doses were being planned for 2022.
The Central Bank of Nigeria (CBN) has revealed that the aggregate domestic credit in commercial banks grew by 7.61 percent in October 2020, compared with 7.35 percent in the previous month.

Nigeria’s foreign reserves gains $1.3 billion on crude sales

The Central Bank of Nigeria says Nigeria’s Foreign Exchange Reserves rose from $34.94 billion in November 2020 to $36.23 billion as at January 21.
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.

CBN: Another coronavirus lockdown’ll wound economy

The Central Bank of Nigeria, CBN, yesterday warned the Federal Government (FG) against imposing another total lockdown of the country, saying such a move would be catastrophic to Nigerians and the economy.
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 retains lending rate

On Monday, the currency exchanged for 475 at the parallel market, against the 383 central bank’s official rate. Inflation hit 15.75 per cent in December 2020, the highest in three years, according to the National Bureau of Statistics.
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.

MPC: Expert urges central bank to curb inflation rates

As Central Bank of Nigeria (CBN) opens its Monetary Policy Committee (MPC) meeting on Monday, a financial expert, Mr Okechukwu Unegbu, has advised the committee to address rising inflationary rates.
A former member of the House of Representatives and chieftain of the All Progressives Congress (APC) in Lagos State, Moshood Adegoke Salvador, at the weekend came hard on the federal government for its plan to build oxygen plants.

APC chieftain slams Nigerian government’s plan to build 38 oxygen plants at N6.8 billion

A former member of the House of Representatives and chieftain of the All Progressives Congress (APC) in Lagos State, Moshood Adegoke Salvador, at the weekend came hard on the federal government for its plan to build oxygen plants in 38 locations in the country at cost of N6.8 billion.

Doyin Salami: Nigeria spent N1.85 trillion on food importation in 2020

The Nigerian government spent N1.85 trillion on food imports in 2020 after it closed the country’s land borders, the chairman of the presidential economic advisory council, Doyin Salami, has said.
An economist, Ms Razia Khan, also Managing Director-Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.

2021 Outlook: Nigeria will record positive GDP growth – economist

An economist, Ms Razia Khan, also Managing Director/Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.
President Muhammadu Buhari presenting the 2021 budget to the National Assembly.

CSOs condemn Nigerian government’s proposed sale of public assets to fund 2021 budget

As Nigerian and Nigerians grapple with economic recession and second wave of COVID-19 pandemic, Civil Society Organisations, CSOs, Monday, disagreed and condemned the alleged move by the Federal Government to sell public assets to implement 2021 budget.

NGO predicts hike in food prices over insecurity

Abundance of Hope Initiative, an NGO, on Monday in Abuja predicted further increase in prices of food items if more efforts were not intensified to address clashes between herdsmen and farmers.
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.

Fitch forecasts $42 billion external reserves for Nigeria in 2021

Fitch Ratings has predicted that Nigeria’s external reserves would rise to $42 billion in 2021, higher than the $35.374 billion it stood at the end of 2020. This is according to figures obtained from the website of the Central Bank of Nigeria (CBN).

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The Senate President, Ahmad Lawan, has said that for appreciable development to take place in the country, more women must be regarded and enlisted to take up more spaces in governance.

Senate president condemns abduction of Zamfara schoolgirls

The President of the Senate, Ahmad Lawan, has condemned the attack on Friday on Government Secondary School, Jangebe in Zamfara State, where hundreds of schoolgirls were abducted.
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.
Osun State Govenror Adegboyega Oyetola

Group drags Osun government before EFCC over ‘flyover’ project

A civil society in Osun state, Transparency and Accountability Group, (TAG) has dragged the state government before the Economic and Financial Crimes Commission, as well as the Independent Corrupt Practices and other Related Offences, (ICPC) seeking the probe the award the flyover in the state to a contractor without any bidding process.
The Nigerian Air Force (NAF) says ensuring an indivisible Nigeria and safeguarding its sovereignty were the cardinal objectives and mandate of the force, Air Marshall, Sadeeq Abubakar, the Chief of Air Staff (CAS), said in Yola.

NAF bombs many bandits in airstrikes in Kaduna

Nigerian military troops have killed an unspecified number of bandits in numerous air raids conducted in Kaduna State communities over the past two days.
1. The former Lagos state governor, Ahmed Bola Tinubu, has revalidated his membership of the All Progressive Congress (APC).

2023: Group donate N10 million for Asiwaju Tinubu ‘presidential bid’

A youth group has called on a former Lagos State Governor and National Leader of the All Progressives Congress (APC), Bola Tinubu, to run for the 2023 presidential election under the platform of the ruling party

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Battle of supremacy rages in Boko Haram-ISWAP camps

Fierce battle between Abubakar Shekau-led Boko Haram and Islamic State West Africa Province (ISWAP) has broken out in the terrorists’ camps leading to the killing of several of their fighters.
Tottenham Hotspur manager Jose Mourinho has blamed Carlos Vinicius after their loss to Chelsea, saying the player doesn’t press his opponents with great intensity.

Jose Mourinho: My methods still second to none

Jose Mourinho insists he is still one of the best coaches in the world despite Tottenham’s dismal run hitting a new low with a 2-1 defeat at West Ham on Sunday.
The Northern Governors Forum on Monday expressed support for proposals to regulate the social media to check the spread of fake news in the country.

Security: Northern governors, NSA, IGP meet in Kaduna

Governors of the 19 Nothern States and traditional rulers of the region are meeting in Kaduna over security challenges bedeviling the region.
The caucus, in a statement by its Leader, Hon. Ndudi Elumelu, called on President Buhari to without further delay, inaugurate a governing board for the NDDC as required by the Act establishing the commission.

PDP chair urges Rep Elumelu to reinvigorate opposition in green chamber

As part of reconciliatory moves, the leadership of the Peoples Democratic Party (PDP) has met with the minority leader of the House of Representatives, Hon. Ndudi Elumelu and recognised him as the leader of the party in the green chamber.
The Director-General of MCO, Mr Obadiah Nkom, gave the warning in a statement by Head, Press Unit of MCO Folasade Fatoke in Abuja on Saturday.

Nigerian government warns speculators to leave mine sites

The Nigeria Mining Cadastre Office (MCO) has warned speculators to leave the mine field for active and serious investors.