GDP: Suspend request for foreign loans, financial experts urge FG

GDP: Suspend request for foreign loans, financial experts urge FG

By Chinyere Joel-Nwokeoma Worried by the contraction in the country’s Gross Domestic Product (GDP), financial experts on Monday called on the Federal Government to suspend its request for external loans. They spoke in an interview with the News Agency of Nigeria (NAN) in Lagos, while reacting to the second quarter GDP figure released by the National Bureau of Statistics (NBS). NBS had on Monday said that Nigeria’s GDP decreased by -6.10 per cent (year-on-year) in…

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Oyakhilome to Buhari, African leaders: Bury your heads in shame for seeking medi-care, Covid-19 vaccines abroad

Oyakhilome to Buhari, African leaders: Bury your heads in shame for seeking medi-care, Covid-19 vaccines abroad

Pastor Chris Oyakhilome. Alfred Olufemi (Premium Times) President Muhammadu Buhari and other African leaders have been told to bury their heads in shame for depending on foreign countries for their health care, seeking Covid-19 vaccines abroad, and for borrowing money. Berating the African leaders, the General Overseer of Believers’ Love World aka Christ Embassy, Pastor Chris Oyakhilome in a live broadcast to his congregation on Sunday, charged the leaders to wake up for the development…

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Group urges FG to create enabling environment for infrastructural growth

Group urges FG to create enabling environment for infrastructural growth

Festus Adebayo. The Housing Development Advocacy Network (HDAN) has urged the Federal Government (FG) to create an enabling environment for infrastructural growth in the housing sector to meet the housing deficit in the country by 2020. Mr Festus Adebayo, Convener, Abuja Housing Show and President of HDAN made this known during an interview with News Agency of Nigeria (NAN) on Monday in Abuja. Adebayo said rather than seek to raise an infrastructure bond of N10trillion…

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Lagos presents N1.168trn 2020 Budget, over 11% of Nation’s budget; Can fund nation’s budget for FCT, Defense, Education, Health, 6 other ministries

Lagos presents N1.168trn 2020 Budget, over 11% of Nation’s budget; Can fund nation’s budget for FCT, Defense, Education, Health, 6 other ministries

Governor Sanwo-Olu of Lagos State. Lagos State Governor, Babajide Sanwo-Olu today, Friday, November 8, 2019 presented a budget of N1.168 trillion to the Lagos State House of Assembly for approval for the 2020 fiscal year. The proposal represents 11.3 per cent of the proposed 2020 budget of the entire country which is put at 10.22 trillion. The proposed budget is to be funded by a projected Total Revenue of N1.071 trillion and a deficit amounting…

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Opposition Reps insist on thorough scrutiny of 2020 budget

Opposition Reps insist on thorough scrutiny of 2020 budget

Hon Ndudi Elumelu, Minority Leader, House of Representatives. The Peoples Democratic Party (PDP)-led opposition in the House of Representatives at the weekend, picked holes in the N10.33 trillion 2020 budget, insisting that the annual estimate will be subjected to thorough legislative scrutiny to ensure that it reflects the general aspiration of over 200 million Nigerians. Minority Leader of the House of Representatives, Hon. Ndudi Elumelu, in a statement today, Sunday, October 27, 2019 and signed…

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Emefiele begins the second tenure as CBN Governor

Emefiele begins the second tenure as CBN Governor

Mr. Godwin Emefiele, taking oath of office for 2nd term as CBN Governor. By Racheal Ishaya Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), on Monday began his second tenure, following the confirmation of his re-appointment by the Senate on May 16. According to a statement by the Director Corporate Communications, Mr Isaac Okoroafor, Emefiele was sworn in by the Bank’s Secretary and Director, Corporate Secretariat Department, Mrs Alice Karau. Emefiele after…

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India’s Central Bank cuts interest rate to boost economy

India’s Central Bank cuts interest rate to boost economy

India’s Central Bank on Thursday, 7/2/2019, unexpectedly lowered interest rates and, as anticipated, shifted its stance to “neutral” from “calibrated tightening” to boost a slowing economy after a sharp fall in the inflation rate. The monetary policy committee (MPC) of the Reserve Bank of India cut the repo rate by 25 basis points to 6.25 per cent, as predicted by only 21 of 65 analysts polled by Reuters. Most polled respondents expected the central bank…

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Under Okowa, Delta records N154bn IGR, says Finance Commissioner

Under Okowa, Delta records N154bn IGR, says Finance Commissioner

Delta State Government recorded a whopping N154 billion in internally generated revenue between 2016 and 2018, according to the Commissioner for Finance, Mr. David Edevbie. Edevbie, who made this known on Tuesday, January 29,2019, in an interview with the News Agency of Nigeria (NAN) in Asaba, said the state realised approximately the sum of N44 billion as IGR in the Year 2016; it realised N52billion in the Year 2017 and N58.4 billion in the Year…

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CBN announces a truce with MTN

CBN announces a truce with MTN

The Central Bank of Nigeria has announced the resolution of its dispute with MTN Communications Limited, saying the company will now atone only for the illegal remittances on preference shares issued in 2008. CBN’s spokesman and director of corporate communications, Isaac Okorafor announced the breakthrough in a statement published on the bank’s website on Monday. The MTN also corroborated the truce in a statement simultaneously issued by MTN in Johannesburg. According to the terms of…

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Ohanaeze hails Supreme Court judgment on Innoson

Ohanaeze hails Supreme Court judgment on Innoson

By Ebere Agozie The Socio-Cultural Organization of Igbos, Ohanaeze Ndigbo, has hailed the judgment of the Supreme Court of Nigeria in the case between Innoson Group of Companies and Guaranty Trust Bank. The organisation gave the commendation in a statement released in Abuja on Monday by Chief Emeka Attamah, Media Adviser to its President-General, Chief Nnia Nwodo. In the statement, Nwodo said that by the judgment, the apex court refused to be used in an…

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