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South African Finance Minister Tito Mboweni gestures as he delivers his budget speech at the parliament in Cape Town, South Africa, February 26, 2020. Reuters-Sumaya Hisham

South Africa’s economic rebound expected to trim budget deficits

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.
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.

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 logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido

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.
Mrs Toki Mabogunje, LCCI’s President stated this at a press conference on Tuesday in Lagos.

LCCI: Joe Biden’s administration will usher in new global economy dispensation

The Lagos Chamber of Commerce and Industry (LCCI) has said that the administration of Mr Joseph Biden, the 46th elected U.S President, would usher in new dispensation for global 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.

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.
FILE PHOTO - A car body is moved in a production line at the Volkswagen plant in Wolfsburg, Germany March 1, 2019. Picture taken March 1, 2019. REUTERS-Fabian Bimmer-File Photo

Germany urges Taiwan to help ease auto chip shortage

Germany has asked Taiwan to persuade Taiwanese manufacturers to help ease a shortage of semiconductor chips in the auto sector which is hampering its fledgling economic recovery from the COVID-19 pandemic

Coronavirus: ECOWAS budgets $398 million to revive ailing economies, electoral reforms

Since the beginning of 2021 and as a follow-up of the events of last year, the food security situation in Western Africa is a mixed picture. Although COVID-19 infection rates remained low compared to global figures, the impact of the pandemic led to reduced economic growth stemming from national restrictions put in place to slow the spread of the virus.
Former Finance Minister Seth Terkper has revealed that Ghana risked returning to the International Monetary Fund (IMF) for support following the rising debt.

Ghana risks returning to the IMF over high debt – ex-minister

Former Finance Minister Seth Terkper has revealed that Ghana risked returning to the International Monetary Fund (IMF) for support following the rising debt.
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).
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, says the sector is crucial in the drive toward diversification of the nation’s economy, away from being oil dominated.

Nigerian government inaugurates committee to implement N50 billion EEFP

Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, yesterday, inaugurated an 11-man Steering Committee for the implementation of the Export Expansion Facility Programme, EEFP, under the National Economic Sustainability Plan.
Mr Bayo Olugbemi, President, Chartered Institute of Bankers of Nigeria (CIBN) says the banking sector in Nigeria has a good capital base to facilitate the successful implementation of the African Continental Free Trade Area (AfCFTA) agreement.

CIBN boss optimistic banks will facilitate AfCFTA success

Mr Bayo Olugbemi, President, Chartered Institute of Bankers of Nigeria (CIBN) says the banking sector in Nigeria has a good capital base to facilitate the successful implementation of the African Continental Free Trade Area (AfCFTA) agreement.
The logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido

IMF lowers China growth forecast to 7.9% for 2021

The International Monetary Fund (IMF) on Friday lowered its 2021 growth forecast for China to 7.9 per cent, following a year of “significant human and economic costs” inflicted by the Covid-19 crisis.
The logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido

IMF: Nigeria remains largest economy in Africa

The International Monetary Fund (IMF) has said that Nigeria maintained its lead as the biggest economy in Africa, in terms of the size of the country’s Gross Domestic Product (GDP).
Secretary-General of OPEC, Mr. Mohammed Barkindo

OPEC: Crude oil will remain relevant beyond 2045

Secretary General of the Organisation for Petroleum Exporting Countries, OPEC, Mohammad Barkindo, yesterday, disclosed that despite its current anaemic outlook, crude oil would continue to be relevant in the foreseeable future, up to 2045.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Stock market declines 2.5% on profit taking

The stock market declined by 2.5 per cent last week following profit taking after weeks of sustained growth. The market, which spiked by 12.9 per cent the previous week, closed lower last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) shedding 2.5 per cent to be at 34,136.82. The market capitalisation closed lower at N17.838 trillion.
The Financial Reporting Council of Nigeria (FRC) has issued new reporting guidelines to enable firms respond to prudential considerations in various sectors.

FRC seeks powers to punish defaulting ministries, agencies

The Fiscal Responsibility Commission (FRC) is seeking an amendment to its activities to allow the punishment of agencies who fail to render their accounts as prescribed by law.
Mikel Arteta admitted Arsenal were beaten by the superior side as the Gunners lost 3-1 at Liverpool on Monday evening.

Mikel Arteta upbeat about Arsenal future despite ‘challenging’ period

Despite the result, Arteta remains positive, telling the club’s website: “It’s part of a process. The results have to be immediate, and the challenge we have with the club we are representing is that we have to win as quickly as possible every game in every competition.
Zainab Ahmed

Finance minister presents draft 2021 to 2023 MTEF to NEC

Hajia Zainab Ahmed, the Minister of Finance, Budget and National Planning, on Thursday presented the draft 2021 to 2023 Medium Term Expenditure Framework(MTEF) as well as the Fiscal Strategy Paper to the National Economic Council (NEC).

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FILE PHOTO - A worker looks on as the second delivery of the Johnson & Johnson coronavirus disease (COVID-19) vaccine is offloaded at the O.R Tambo International Airport in Johannesburg, South Africa, February 27, 2021. Kim Ludbrook-Pool via REUTERS

South Africa signs J&J vaccine deal, eases restrictions

South Africa has signed an agreement with Johnson & Johnson to secure 11 million COVID-19 vaccine doses and will ease restrictions due to a decline in new cases, President Cyril Ramaphosa said on Sunday.
Manchester United’s Norwegian manager Ole Gunnar Solskjaer (L) congratulates players on the pitch after the English Premier League football match between Chelsea and Manchester United at Stamford Bridge in London on February 28, 2021. – The game finished 0-0. (Photo by Ian Walton / POOL / AFP)

Manchester United rages at penalty talk as team draw another blank

Ole Gunnar Solskjaer believes Manchester United are being negatively influenced by opposition managers referring to their penalty record after being denied a spot-kick in a 0-0 draw at Chelsea on Sunday.
Gov. Bello Matawalle of Zamfara has said that construction work on the Gusau Airport project would commence this month.

Zamfara governor: Abducted schoolgirls will be released soon

Governor Bello Matawalle of Zamfara State has said that the abducted students of Government Science Secondary School, Jangebe, will be released very soon.

Primate Ayodele: President Buhari has broken Nigeria’s unity

The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has once again knocked the President of Nigeria, Muhammadu Buhari, over the unsecured state of the country.
NANS National President, Comrade Sunday Asefon

NANS asks Nigerian government to declare abductors of students terrorists

Following the gale of abductions of school children in the Northern part of the country, the National Association of Nigerian Student (NANS), has advised the federal government to list bandits perpetrating such horrendous crime as terrorists.

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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.
Bandits on Saturday killed three persons and injured one in Kajuru local government area of Kaduna State.

Bandits kill father, son in Kaduna

Samuel Aruwan, the Commissioner for Internal Security and Home Affairs, confirmed the incident in a statement to journalists in Kaduna on Sunday.
The Police Command in Plateau has arrested 16 suspects over kidnapping, armed robbery, culpable homicide and unlawful possession of firearms.

Kidnapped farmer’s son regains freedom in Oyo

Ayodeji Emmanuel, the 24-year-old son of a poultry farmer kidnapped on Monday in his father’s farm at Oke Odan, Apete area of Ibadan, has regained freedom.
Senate Chief Whip, Orji Kalu with Niger State Governor, Abubakar Sani-Bello...

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.
Zainab Ahmed

Minister: Supplementary budget for vaccines ready by March

The Minister of Finance, Zainab Ahmed, said the federal government would draw a supplementary budget in March to cover the cost of COVID-19 vaccinations.