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Archive by Category "Nigeria"

HomeArchive by Category "Nigeria"

By Felix Onuah ABUJA, April 27 (Reuters) – The World Bank held talks with the Nigerian president on Wednesday on how it could help Nigeria overcome an economic crisis caused mainly by a sharp fall in crude prices eating into its oil revenues. On her second day of meetings with Nigerian officials, World Bank Managing […]

President of the Senate, Dr Bukola Saraki, says all the grey areas in the 2016 Budget have been resolved. Saraki said this on Tuesday night while speaking with State House correspondents after a closed-door meeting with President Muhammadu Buhari in Abuja. Buhari met with the leadership and principal officers of the National Assembly, as part […]

By Ugo Nwagwu The best time for Nigeria to industrialize was 35 years ago. The second best time; NOW! Pre Independence Malaysia was rich in natural resources such as porcelain, spices (which were then traded as currency) and large deposits of Tin. As part of the British Empire, the British took over administration of the […]

JOHANNESBURG, April 26 (Reuters) – South African supermarket operator Pick n Pay plans to expand into Nigeria next year through a partnership with a local conglomerate, as it seeks to reduce its reliance on its home market, it said on Tuesday. Pick n Pay already operates in Botswana, Zimbabwe and Namibia and plans to open […]

  • CBN

ABUJA, April 25 (Reuters) – The Nigerian government will allow cash-strapped states to defer deductions for loans in March so that they will have sufficient funds to pay salaries, the finance ministry said on Monday. The government will instead make loan repayments to bondholders on the states’ behalf, the ministry said. Deductions of 10.9 billion […]

ABUJA, April 25 (Reuters) – Nigeria will tap its strategic grain reserves to rein in food prices, President Muhammadu Buhari said, as Africa’s biggest economy faces its worst economic crisis in decades fueled by a collapse in crude oil prices. Annual inflation in the continent’s top oil exporter rose to a near four-year high of […]

Abuja, April 21, 2016 (FxMallam) – The Federal Government of Nigeria saw its revenues fall in March to N299 Billion from N345 billion in February due in large part to low oil prices. The Minister of Finance, Kemi Adeosun told reporters that, “The federation accounts receipts are among the lowest in recent memories. We are […]

The Accountant-Generalof the Federation (AGF), Mr Ahmed Idris has reveal that the Federal Government of Nigeria and collated over N2.7 Trillion in its Treasury Single Account (TSA). This comes after President Muhammadu Buhari in a bid to increase accountability and reduce corruption, ordered the merger of all state accounts into one account at the Central […]

Nigeria’s President Muhammadu Buhari needs more time to check the 2016 budget bill before signing it, a government minister said on Wednesday, signaling further delays before the legislation takes effect. The budget for Africa’s top oil producer has been held up for months as Buhari had to withdraw his original bill, which set spending at […]

LONDON, April 20 (Reuters) – * Oil prices rebounded to a 2016 high Wednesday as U.S. stocks of crude posted a smaller-than-expected build and there was a drawdown in gasoline and distillate stocks. * Russia said on Wednesday it was prepared to push oil production to new historic highs, just days after a global deal […]