Category: Economy
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FG seeks fresh $1.5bn from World Bank for budget support
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has disclosed the federal government is in discussion with the World Bank for a 1.5 billion dollars budget support.
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Finance Minister says Nigeria’s debt sustainable
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the country’s debt situation is sustainable and does not require restructuring.
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FG targets December to increase oil output to 2m bpd
The Federal Government says it is targeting to increase crude oil production to two million Barrels Per Day (bdp) and beyond by the end of the year.
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How Nigeria’s fuel subsidy removal, FX unification can translate to economic growth
The International Monetary Fund, on Friday, said for Nigeria’s fuel subsidy removal policy and foreign exchange unification initiative to translate to economic growth and stability, the Federal Government must collect more taxes to fund the national budget and pay public debts.
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U.S. stays strong as global economic growth slows down
The International Monetary Fund (IMF) has projected medium term global economic stagnation while appraising the economy of the United States as strong and resilient.
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Nigerians Turn to Online Trading for Additional Streams of Income
While the new administration has plans to set Nigeria on a path to economic recovery, Nigerians continue to face inflationary pressures and rising cost of living. According to the National Bureau of Statistics (NBS) report on the Consumer Price Index, Nigeria’s inflation rate rose to an 18-year high of 24.08% in July 2023, increasing by…
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FG announces return of Tradermoni, conditional cash transfer
The federal government will restart the Tradermoni scheme in November with each beneficiary getting N50,000 to support their business.
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NBS report reveals alarming surge in prices of food items
The National Bureau of Statistics (NBS) has released its Selected Food Prices Watch report for August 2023, showing an alarming surge in the costs of essential food items across the country. Garri, a staple for many Nigerians, increased by 49.16 per cent from N305.92 in August 2022 to N456.32 in August 2023, while 1kg of…
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How price of cooking gas is skyrocketing in Nigeria
The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N4,072.87 recorded in July to N4,115.32 in August 2023.
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How Customs exceeded monthly revenue target in July, August
Acting Comptroller-General (CG) of the Nigeria Customs Service (NCS), Mr Adewale Adeniyi has disclosed the service exceeded its revenue target for the months of July and August.