Category: Economy
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Manufacturers raise alarm over prevailing interest rate, beg FG for reduction
The Manufacturers Association of Nigeria (MAN) is uncomfortable with the present interest rate on loans for its members and needs a further reduction to one per cent, an official has said. Chief Bioku Rahman, the outgoing Chairman of MAN in Kwara and Kogi, disclosed this in Ilorin on Tuesday while speaking during the Association’s 10th…
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President Tinubu reacts over new GDP report by NBS
President Bola Tinubu has welcomed the latest report of the National Bureau of Statistics (NBS) on the state of the economy. The report had indicated that the country’s Gross National Product (GDP) posted another growth.
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FAAC: FG, States, LGs share N1.358 trillion
The Federation Accounts Allocation Committee (FAAC), has shared the sum of N1.358 trillion among the Federal Government, States and Local Government Councils (LGCs) for the month of July.
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FG grows foreign reserves by $4bn – Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says Nigeria’s foreign reserves grew by four billion dollars since January.
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How Nigeria’s inflation rate dropped in July – NBS
Nigeria’s headline inflation rate declined to 33.40 per cent in July, says the National Bureau of Statistics (NBS).
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CBN sells $148m to authorised dealers
The Central Bank of Nigeria (CBN) says it sold a cumulative amount of 148 million dollars to authorised dealers in the Nigerian Foreign Exchange Market (NFEM). According to Mrs Hakama Sidi-Ali, acting Director, Corporate Communications
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FG reveals oil revenue growth of 30% in 2024
The Federal Government says Nigeria’s oil revenue grew from 11 per cent in the first half of 2023 to 30 per cent in the first half of 2024.
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Traders open up over arbitrary increase in price of yam
Yam sellers in the Federal Capital Territory (FCT) on Friday appealed to the Federal Government to intervene on the arbitrary increase in price of yam in the country.
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Oil revenue grew by 30% in first half 2024 – FG
The Federal Government says Nigeria’s oil revenue grew from 11 per cent in the first half of 2023 to 30 per cent in the first half of 2024. This is contained in a statement by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun on Friday, in Abuja.
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Economy bites harder as food prices continue to rise in Nigeria
The National Bureau of Statistics (NBS), says prices of beans, tomatoes, irish potatoes, garri, yam and other food items witnessed significant price increases in June 2024.