ECONOMY

Nigeria's 2017 budget, signed into law by the Acting President, Yemi Osinbajo a month ago, has still not been finalised and is being amended due to disagreements between parliament and the presidency, two sources familiar with the matter said. Reuters reports exclusively. Any delays to government spending could hobble recovery...

The Minister of Finance, Mrs Kemi Adeosun said the country has no choice but to continue to borrow in other to implement the Federal Government’s Economic Recovery and Growth Plan. Adeosun said this in a statement signed by the Director of Information, Federal Ministry of Finance, Mr Salisu Dambatta on...

The Federal Government of Nigeria plans to issue a 10-year promissory note to offset N2.7trillionnaira ($8.85 billion) owed to government contractors and employees, Finance Minister, Mrs Kemi Adeosun said this on Wednesday. Nigeria, Africa's biggest economy, is in the second year of a recession caused by low crude oil prices...

Nigeria's debt office plans to use $483.4 million to service its foreign debt over a 10-year period and make repayments starting from next year as its dollar debts begin to mature, it said in its annual report. Debt Management Office (DMO) projects debt service repayments to amount to a total...

Minister of Finance, Mrs Kemi Adeosun has explained why Nigeria cannot borrow more to fund its budget but would raise money through other means. Adeosun made the comment while speaking at a business forum in Abuja on Tuesday and suggested that the country will no longer seek such loans or...

The Manufacturing Purchasing Managers' Index (PMI) recorded expansion in the manufacturing sector for the third consecutive month as it increased to 52.9 index points in June 2017. The Central Bank of Nigeria’s (CBN) PMI report obtained from the apex bank’s website report revealed. The PMI which is an indicator of...

The Federal Government has come up with it calls the) which will be operated from July the 1st, 2017 until the 31st of March, 2018 which is targeted at offering a once in a lifetime opportunity to those in default to regularise their tax affairs. The Acting President of the...

The African Development Bank (AfDB) has called on financial credit providers to increase lending to Micro, Small and Medium Enterprises (MSMEs) in Africa to 135 billion U.S. dollars. A statement issued by Mr Emeka Anuforo, the Communications Officer of the Bank, in Abuja on Wednesday said that increasing affordable loans...

Federal Government of Nigeria hopes to raise at least $1 billion from a scheme that will give tax evaders a chance to make payments retrospectively, the finance ministry said on Friday. The OPEC member, which has Africa's largest economy, is in the second year of a recession brought on by...

The Federal Government of Nigerian said it has commenced training of unemployed graduates recruited as Community Tax Liaison Officers to boost tax revenue generation in the country. The Minister of Finance, Mrs Kemi Adeosun, who revealed this on Friday, said 27 Nigerians were being trained as a pilot set for...