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World Economic Outlook

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

IMF: Multilateral response critical to overcome coronavirus in India, globally

The International Monetary Fund (IMF) has stated that a multilateral response is critical to overcome the COVID-19 pandemic in India and globally.

IMF urges governments to prioritize health care spending

The International Monetary Fund (IMF) has said while the pandemic continues, governments’ policies should first focus on escaping the crisis, prioritizing health care spending, providing well-targeted fiscal support, and maintaining accommodative monetary policy while monitoring financial stability risks.
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.
The logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido

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.
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).
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

IMF projects 10.4% contraction in global trade, difficult economic recovery

In the just-released biannual World Economic Outlook (WEO) report, the IMF also revealed that foreign direct investment flows as a share of global gross domestic product are well below their pre-pandemic levels, and are expected to remain as such in the near future.
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-IMF annual meetings in Morocco postponed until 2022

The Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) scheduled to take place in Marrakesh, Morocco, in October 2021 has been postponed by 12 months until 2022 due to the COVID-19 pandemic.
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‘ll widen gap between rich and poor

The COVID-19 pandemic will widen the gap between the rich and the poor, especially in the emerging markets and developing economies, the International Monetary Fund (IMF) has said.
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

IMF: Nigeria’s economy will contract by 3.4 percent in 2020

The International Monetary Fund (IMF) on Tuesday projected that Nigeria’s economy would contract by 3.4% in 2020, implying the reversal of the modest 2.27% real growth recorded in 2019 to a possible growth of 1.13% by year end.
The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.

IMF: Coronavirus could damage global growth in 2020

The coronavirus epidemic could damage global economic growth this year, the IMF head said Sunday, but a sharp and rapid economic rebound could follow.
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.

IMF cuts Nigeria’s economic growth forecast

The International Monetary Fund (IMF) has announced a downward review of its 2020 growth forecast for Nigeria to two per cent from the 2.5 per cent it predicted earlier.
The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.

IMF sets Nigeria’s 2020 growth projection at 2.5 percent

The International Monetary Fund (IMF) in its World Economic Outlook (WEO) released Monday has projected that the Nigerian economy will grow at 2.5 per cent this year and next year, same as it had predicted in its October 2019 WEO.

IMF faults forex restrictions on 43 items as hurting investments

The foreign exchange restrictions placed on 43 items by the Central Bank of Nigeria (CBN) on Tuesday drew criticism from the International Monetary Fund (IMF).

IMF cuts 2019 global growth estimate to 3 percent

The world economy is slowing to its weakest pace since the global financial crisis, amid continuing trade conflicts that have undercut business confidence and investment, the IMF said Tuesday.

IMF: Trade uncertainty rising in Nigeria

The International Monetary Fund has expressed concern over the rise in trade uncertainty in Nigeria and many other economies amid the escalating trade tensions between the United States and China.

IMF raises growth projection for Nigeria

In the World Economic Outlook report released on Tuesday at the ongoing spring meetings of the IMF and World Bank Group, the fund said Nigeria’s economy will grow by 2.1% in 2019, an increase of 0.1% points from the 2% projection given in January.
Institute of Chartered Accountants of Nigeria (ICAN)

ICAN: Delayed passage of 2019 budget may sabotage growth prospects

Institute of Chartered Accountants of Nigeria (ICAN) have said that the delayed passage of the 2019 budget and slow investment choices that may arise as a result of expectations from the general elections may stall Nigeria’s growth prospects in 2019.

IMF cuts Nigeria’s GDP growth projection to 2 percent

The International Monetary Fund (IMF) has cut Nigeria’s gross domestic product (GDP) projection for 2019 to 2% from the 2.3% it had predicted previously.

IMF warns Nigeria not to delay reforms over high oil prices

The International Monetary Fund (IMF) has warned Nigeria and other oil exporting nations in dire need of structural reforms not to be tempted to delay the exercise due to the current higher oil prices.

IMF: Poor growth in Nigeria, South Africa affecting African economy

The International Monetary Fund (IMF) has said African economies combined growth rate is held down by the continent’s three largest economies: Nigeria, South Africa and Angola, which IMF said are not performing up to their potentials.

IMF predicts 13.5 percent inflation for Nigeria in 2019

The International Monetary Fund (IMF) has predicted that inflation rate in Nigeria will rise to 13.5 per cent in 2019.
Acting Finance Minister of Finance Zainab Ahmed

Zainab Ahmed, Godwin Emefiele join economic experts at IMF/WBank meeting

The Minister of Finance, Mrs Zainab Ahmed and the Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele, will join other economic experts from around the world to discuss issues affecting the global economy.

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The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

‘Armed robbers’ involved in ghastly motor accident in Ogun

Three suspected armed robbers on Saturday were involved a ghastly motor accident at Ode-Remo, Ogun State, while escaping with a car they allegedly snatched at gunpoint.

Russians nationals detained in Chad desert say they are tourists

A group of Russians detained by the police in a part of northern Chad where the army has been battling a rebel invasion from Libya said on Wednesday that they were tourists who had come to sightsee in the Sahara Desert.
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 vows to expose MDAs refusing to account for public funds

President of the Senate, Ahmad Lawan, has said that the upper chamber will publish the names of government agencies that have refused to appear before the Public Accounts Committee to defend the interrogations of the Auditor-General for the Federation in the 2015 report.
Governor ‘Seyi Makinde of Oyo State has addressed the issues surrounding the strike action by some state-owned tertiary institutions, declaring that the state will resolve the matter within the month.

Oyo governor urges council chiefs to strengthen intelligence gathering in their areas

Gov. Seyi Makinde of Oyo State has urged local government chairmen in the state to upscale intelligence gathering in their respective council areas.
Super Eagles coach Gernot Rohr was present at the first training session of selected Nigeria Professional Football League players in Abuja on Wednesday.

Super Eagles coach joins NPFL stars in training ahead of Mexico friendly

Super Eagles coach Gernot Rohr was present at the first training session of selected Nigeria Professional Football League players in Abuja on Wednesday.

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2023: Political parties task INEC on need for new electoral laws

Eighteen political parties recognised by the Independent National Electoral Commission (INEC) has mounted pressure on the commission to impress it on the National Assembly to pass the new electoral laws before the next general election in 2023.
Christian Eriksen has posted the first picture of himself in hospital since he suffering a cardiac arrest during Denmark’s Euro 2020 clash with Finland on Saturday.

Denmark midfielder Christian Eriksen discharged from hospital

Christian Eriksen has been discharged from hospital after a “successful” operation to fit a heart-starting device.
The Department of Petroleum Resources (DPR), Osogbo field Office, has sealed 15 Liquefied Petroleum Gas (LPG) skid stations for operating without valid licences.

Fuel marketers bewail extortion by DPR officials, threaten strike

The Independent Petroleum Marketers Association of Nigeria (IPMAN) Suleja/Abuja Unit, on Sunday, threatened to embark on a strike action over alleged extortion by officials of the Department of Petroleum Resources (DPR).
Iran's President-elect Ebrahim Raisi attends a news conference in Tehran, Iran June 21, 2021. Majid Asgaripour-WANA (West Asia News Agency) via REUTERS

Iran’s president-elect backs nuclear talks, rules out meeting Joe Biden

President-elect Ebrahim Raisi on Monday backed talks between Iran and six world powers to revive a 2015 nuclear deal but flatly rejected meeting U.S. President Joe Biden, even if Washington removed all sanctions.
The National Publicity Secretary, Kola Ologbondiyan, “He is fully aware of the constitutional implication of his decision to defect to another party; which is that he cannot continue to occupy the seat of the PDP in the Senate.

PDP: APC confession of failure vindicates us

The Peoples Democratic Party (PDP) yesterday said the confession by the leaders of the All Progressives Congress (APC) when they gathered yesterday in Abuja for a youth conference, that their party and President Muhammadu Buhari have failed to deliver, vindicated its position that they (APC and Buhari) will leave office in 2023 without any legacy.