The Peoples Democratic Party has asked the Federal Government to stop fleecing Nigerians with high fuel price by immediately reducing the pump price to N70 per liter to reflect the appropriate pricing template following the fall in the price of crude oil in the international market. The party said this in a statement by its … Continue reading PDP TO FG: REDUCE FUEL PRICE TO N70
President Muhammadu Buhari has written to the House of Representatives to request for the approval of fresh external borrowings totalling $5.513bn. Buhari, in the letter read by Speaker of the House of Representatives, Femi Gbajabiamila, at the plenary on Thursday, said the funds were for 2020 budget deficit, financing of critical projects, and some states … Continue reading BUHARI SEEKS FRESH $5.513BN LOAN
The Nigerian Government has reduced the price of petrol from N125 per litre to N123.5. “Motor Spirit pump price hereby announces guiding PMS pump price of N123.50 per litre,” Nigeria’s Petroleum Products Pricing Regulatory Agency (PPPRA) executive secretary Abdulkadir Saidu said in a statement. “The guiding price which becomes effective 1st April 2020, shall apply … Continue reading NIGERIA REDUCES PETROL PRICE TO N123.5
In a press release sent to the Herald which was signed by Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, First Bank, while recognising the bank’s commitment and leading role at providing bespoke financial services to its customers and the public in general, through its numerous state of the art and innovative financial products and services, First … Continue reading First Bank bags Nigeria’s Best Private Bank
The bill as passed by the Senators also stated that anyone who conspire, counsel, or accept to procure, or to hold in custody or convey by any means, stolen parts, components, or pieces of a public power equipment, including electric cable, transformer, high tension wire, power console, electrical insulators, etc shall, on conviction, be sentenced to10 years imprisonment term, without option of fine.
The Managing Director, International Monetary Fund, Christine Lagarde, has called on the Federal Government to remove fuel subsidy, saying it is the right thing to do.
By so doing, she opined, the country would be able to move funds into improving health, education, and infrastructure.
International Monetary Fund has ranked Nigeria as the second worst country in the world in the use of sovereign wealth funds. According to the Fiscal Monitor report released on Wednesday, Qatar was the only country worse than Nigeria on the index.
The Naira, yesterday, depreciated to N359 per dollar in the parallel market.
According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange rose to N359 per dollar from N358.7 on Tuesday, translating to 30 kobo depreciation of the Naira.
The World Bank has said that the Nigerian economy has been slipping since 1995 and this continued till 2018.
The bank, in its latest report on the regional economy titled, ‘Africa’s Pulse’, released the taxonomy of growth performance in sub-Saharan Africa, which focused on the macroeconomic and financial features that led to growth resilience on the continent.
Nigeria’s aggregate public debt grew 12.25 per cent or N2.66 trillion year-on-year as at December 31, 2018, totalling N24.387 trillion ($79.437 billion), compared to N21.7 trillion posted over the same period in 2017, the Debt Management Office (DMO) has revealed.
A breakdown of the debts showed that external debt stood at N7.759.23 trillion ($22bn), while domestic component stood at N16.627.84 trillion ($56bn).
Experts have called on government at all levels to put paid to its borrowing in order to safe the incoming generations from falling into unmitigated debts. Speaking at a two-day workshop of The MaroonSquare Discourse on National Development in Lagos, at the weekend, a lecturer at department of Political Science, Lagos State University, Prof. Sylvester … Continue reading Anxiety over Nigeria’s $73bn debts
The National Bureau of Statistics, says the Consumer Price Index which measured inflation increased to 11.44 per cent (year-on-year) in December 2018 from 11.28 per cent recorded in November 2018.
The NBS disclosed this in its “CPI and Inflation Report’’ for December released in Abuja on Wednesday on its website.
The bureau said the figure was 0.16 per cent points higher than the rate recorded in November in the period under review.
HSBC and UBS have closed their offices in Nigeria, the country's central bank said in a report on Friday as it revealed foreign investment had fallen sharply from a year ago.