Category: Economy
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Edo Govt. proposes N16.2bn as 2018 supplementary budget
Gov. Godwin Obaseki of Edo has proposed a N16.2-billion Supplementary Budget for the 2018 fiscal year to allow for more investments in education and agriculture, among other sectors. The information is in a statement by Special Adviser to the Governor on Media and Communication Strategy, Mr Crusoe Osagie in Benin on Wednesday. Osagie stated that…
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Minimum Wage: Organised Labour threatens nationwide strike Nov. 6
The Organised Labour says it will embark on nationwide strike on November 6, if the Federal Government fails to meet its demand on the new National Minimum Wage of N30,000 agreed upon. Mr Ayuba Wabba, President, Nigeria Labour Congress (NLC) made this known in a statement signed with its counterparts, Mr Bobbio Kaigama, President, Trade…
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Okowa presents N367bn 2019 budget proposal to Delta Assembly
Gov. Ifeanyi Okowa of Delta on Wednesday presented a budget estimate of N367.09 billion for the 2019 fiscal year to the State House of Assembly for approval. Presenting the budget christened, “Budget of Sustainable Growth,” Okowa said it was made up of N157.09 billion and N209.99 billion Recurrent and Capital Expenditures respectively. The proposed budget…
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Breaking: Senate begins investigation into $3.5bn unappropriated subsidy fund
The Nigerian Senate on Tuesday set in motion investigation into the $3.5 billion unappropriated subsidy recovery fund allegedly being mismanaged by the Nigeria National Petroleum Corporation (NNPC). TheNewsGuru (TNG) reports Senator Biodun Olujimi, citing order 42, brought the issue to bear on the floor of the red chamber, stressing that the amount was too large…
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Human Capital Index: FG reacts to World Bank ranking of Nigeria
Following ranking of Nigeria among the seven worst countries in the newly released World Bank’s Human Capital Index report, the federal government (FG) has called on all stakeholders to find country-led solutions to the critical human capital challenges facing the nation. TheNewsGuru (TNG) reports Minister of Finance, Zainab Shamsuna Ahmed, who made this known on…
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FG to prosecute offenders in failed Skye Bank
The Federal Government has promised to persecute all those found to be responsible for the failure of the now defunct Skye Bank. The Minister of Finance, Mrs Zainab Ahmed, made this known on Friday while on a visit to the Nigerian Deposit Insurance Corporation (NDIC), in Abuja. The News Agency of Nigeria (NAN) recalls that…
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GDP report: We stood our ground to resist Govt. interference – NBS Boss
Statistician General of the Federation on Thursday said the National Bureau of Statistics (NBS) stood its ground to ensure there were no interferences from any government entity in the production process of the nation’s gross domestic product (GDP) report released recently. TheNewsGuru (TNG) reports the NBS Boss, Dr. Yemi Kale stated this in a Business…
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Lagos retains highest foreign debt portfolio – DMO
Lagos State, the commercial nerve-center of Nigeria, has retained its position as the state with the highest foreign debt in the country, with a foreign debt put at 1.45 billion dollars as at June 30. A document obtained from the Debt Management Office (DMO), on Wednesday in Abuja, titled: ‘States, Federal Capital Territory (FCT) and…
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FG regrets drop in real GDP growth rate
Following the latest Gross Domestic Product (GDP) growth figures released by the National Bureau of Statistics (NBS) on Monday, Nigeria’s Minister of Budget and National Planning, Udoma Udo Udoma, has expressed regret at the slight drop in real GDP growth rate for Q2 2018. TheNewsGuru (TNG) reports Udoma said the slight drop in real GDP…
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Minimum wage: New structure not feasible soonest – Ngige
Chris Ngige, Nigeria’s Minister of Labour and Employment has said the new minimum wage structure will not come into place any time soon. TheNewsGuru (TNG) reports the Minister made this known while speaking with reporters in Anambra State. According to Ngige, State Governors are yet to submit their proposal on the new wage system and…