Economy

Speaker of the House of Representatives, Femi Gbajabiamila, on Tuesday, attributed the current hardship occasioned by the naira and fuel scarcity to the activities of saboteurs. Gbajabiamila stated this during the launching of the…
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The Federal Government has said it would obey the ruling of the Supreme Court suspending the February 10 deadline given by the Central Bank of Nigeria, CBN on the exchange of naira notes. Recall that the apex court in its ruling…
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Oil company (file image) The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that the revenue that Nigeria earned from oil and gas revenue as of 2020 was $741.4 billion. The Executive Secretary, Dr. Orji…
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President Muhammadu Buhari has stated that the Nigerian economy is ripe for increased investment, hinting that  private capital flows into Nigeria, consisting mainly of Foreign Direct Investment, have slowed, hindering the financing of…
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The Director General, Budget Office of the Federation, Ben Akabueze, has recommended the suspension of salary increases for government agencies, discontinuation of Premium Motor Spirit (PMS) subsidy, among other measures to avert debt…
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Nigerian banks’ operating environments could deteriorate in 2022–2023 as adverse global economic conditions feed through to the local economy, Fitch Ratings said in a report Thursday. Fitch also said the pressures on banks’…
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Nigeria has earned about $119 billion from crude oil exports from 2017 to 2021 under President Muhammadu BuhariThe country produces over one million barrels of crude oil per day, which is a far cry from previous productionsExperts say…
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...Large volumes of petrol are being smuggled to Cameroon, Ghana, Benin Republic and as far as Sudan - Sources The smuggling of subsidised petrol across Nigeria’s borders is emerging as the hottest gig in town as housewives,…
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"The World Bank stated that while domestic price of PMS has remained fixed, global PMS prices have risen, therefore increasing the cost of the PMS subsidy" This was disclosed in the November 2021 edition of its Nigeria Development…
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Vice President Yemi Osinbajo has observed that focusing on non-oil exports, with the Zero-Oil Plan actively promoted by the Nigerian Export Promotion Council (NEPC), Nigeria is on the right path to economic diversification. He…
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