Buhari To Nigerians: Change Not Bed Of Roses
President Muhammadu Buhari has said that the much expected change promised by the All Progressives Congress (APC) government in the country cannot be achieved just Read more
Nigerian economy
We are aware of your pains, Buhari tells Nigerians
President Muhammadu Buhari has said that he and members of his cabinet are aware of the pains Nigerians are going through. The President, who said Read more
Putin says oil output freeze would be right decision for global market
* OPEC, non-OPEC talks failed in April * OPEC, non-OPEC producers to meet in Algeria this month * Russian oil output lowest in a year Read more
Nigeria central bank ends banks’ suspension from FX market
(Adds details, quotes) ABUJA Aug 31 (Reuters) – Nigeria’s central bank ended the suspension of eight lenders banned from the interbank currency market for failing Read more
Nigeria approves plan to borrow more from abroad as recession hits
By Felix Onuah ABUJA Aug 31 (Reuters) – Nigeria’s government has approved a three-year plan to borrow more from abroad, Finance Minister Kemi Adeosun said Read more
Nigeria’s foreign reserves fall to $25.45 bln by Aug.29
LAGOS Aug 31 (Reuters) – Nigeria’s foreign exchange reserves fell to $25.45 billion by Aug. 29, down 2.86 percent from the previous month, central bank Read more
Nigeria’s annual inflation rises to 17.1 percent in July, food prices almost triple
LAGOS (Reuters) – Nigeria’s annual inflation rose to 17.1 percent in July from 16.5 percent in June, the country’s statistics office said. Food inflation rose Read more
Nigeria in recession as wrong approach & low oil prices shrink economy
By Chijioke Ohuocha and Alexis Akwagyiram LAGOS (Reuters) – Nigeria, Africa’s biggest economy, officially slid into recession for the first time in more than 20 Read more
Nigeria’s Economy to perform better in H2 after slide into recession – Osibanjo
LAGOS (Reuters) – Nigeria’s government expects its economy to perform better in the second half of the year after it slipped into a recession in Read more
Emergency Power Bill: Why Buhari should not be entrusted with more powers
The dire situation of the country’s economy has compelled the Muhammadu Buhari administration to think out of the box following government’s proposal for an emergency Read more
Cardinal Okogie to Buhari: Nigerians are hungry, ‘A stitch in time saves nine’
Friday Olokor and Leke Baiyewu The Emeritus Archbishop of Lagos, Cardinal Anthony Okogie, has said President Muhammadu Buhari must do something fast to address hunger Read more
Experts Warn That Refund Of NNPC Funds May Trigger Liquidity Crisis
Nigeria’s banking industry could face significant liquidity pressures if the Central Bank of Ni-geria (CBN) enforces its directive that eight banks should refund the Nigerian Read more
Good News: Nigeria External reserves rise by $595m in five days
By Femi Asu The nation’s foreign exchange reserves have increased by $595m to hit a one-month high of $26.196bn, the latest data from the Central Read more
Inflation Raises $3.2bn Mambilla Power Contract To $6bn
The contract for expansion of largest single hydropower station in Nigeria, the $3.2 billion Mambilla Hydropower project, signed in 2007, has risen to $6 billion Read more
Nigeria’s economic woes, self inflicted, says Soludo
A former Governor, Central Bank of Nigeria, CBN, Prof. Charles Soludo, said, yesterday, that the economic recession Nigeria is experiencing was self inflicted, insisting that oil, Read more
Nigeria will be among top business-friendly countries in 2019 – Buhari
Olalekan Adetayo, Abuja President Muhammadu Buhari on Sunday assured the international community that Nigeria will be one of the first 100 countries on the World Read more
Nigeria’s naira hits record low of 412 to dollar on parallel market – traders
LAGOS (Reuters) – Nigeria’s naira was quoted at an all-time low of 412 per dollar on the parallel market on Friday as a dollar shortage Read more
Soludo To APC: Stop Blaming PDP For Nation’s Woes
Former Central Bank of Nigeria (CBN) Governor, Prof. Charles Chukwuma Soludo, has observed that the ruling All Progressives Congress (APC) government has no master plan Read more
Naira at record black market low of 407-$1, stocks sink as FX bans on banks weigh
LAGOS (Reuters) – Nigeria’s naira was quoted at an all-time low of 409 to the dollar on the black market on Thursday, compared with 402 Read more
Nigeria’s distributable revenues fell to 444 billion naira in July
ABUJA Aug 25 (Reuters) – Nigeria’s distributable revenues to the three tiers of government fell in July to around 444 billion naira after 559 billion Read more
Nigeria approves 3-year budget plan, projects low growth in 2019
The Federal Executive Council (FEC) on Wednesday in Abuja approved the Medium Term Expenditure Framework (MTEF) and Fiscal Strategic Paper (FSP) for 2017 to 2019. Read more
Fuel Marketers Express Worry As Banks Move To Recover N350bn Debt
CBN to banks: Dedicate 60 of forex to manufacturers Banks and other lenders have begun a recovery programme to recoup loans and debt from the Read more
APC shifting blames to PDP over Nigeria’s Lingering Economic Crisis
In a desperate bid to convince Nigerians on who is better suited to run the country, the ruling All Progressives Congress and the Peoples Democratic Read more
Nigeria’s ₦ : Naira gains 0.8 % after central bank dollar sales
(Adds closing rate, trader comment) LAGOS Aug 22 (Reuters) – Nigeria’s naira closed firmer on the interbank market on Monday after the central bank sold Read more
South African Hotel and Gaming company, Sun Int’l pulls out of Nigeria due to recession
Sun International joins South African exodus from Nigeria * South African hotel, gaming group ends Nigerian ambitions * Weak economy, shareholder dispute weighed on business Read more
Ebonyi: FG Begins Training Of 500 Youths Under Empowerment Programme
The Federal Government Sunday said it is targeting 9,500 youths in the first phase of its Youth Empowerment Programme across the country. Acting Director General Read more
Nigeria to allocate 60 billion Naira more in capital spending -finance minister
ABUJA (Reuters) – Nigeria’s government is to allocate 60 billion naira ($180 million) more spending on capital projects as part of the 2016 budget and Read more
Nigeria’s Buhari says monetary policy alone not enough to expand economy
ABUJA (Reuters) – Nigeria will need to combine monetary policies with fiscal and structural policies in order to overcome its worst economic crisis in decades Read more
Nigeria Customs Lose N551.3bn In Six Months
The Nigeria Customs Service (NCS) lost N551.3 billion revenue in the first half of the year, New Telegraph has learnt. The summary of revenue figure Read more
How oil sector crumbled, pushing Nigeria to brink of recession
Crude oil production levels in Nigeria, Africa’s one time largest producer, has fallen to between one million and 1.2 million barrels daily, wrecked by militancy Read more