ECONOMY

The N146.17 billion 2016 budget of the Federal Inland Revenue Service (FIRS) suffered a setback on Thursday  at the National Assembly as the Senate declined to approve it. The budget was not approved based what the upper house called the poor job carried out by its Finance Committee which scrutinised...

Worried by the high lending rate to the private sector, the Lagos Chamber of Commerce and Industry (LCCI), has charged the Central Bank of Nigeria (CBN) to review the Monetary Policy Rate (MPR). Dr Vincent Nwani, Director, Research and Advocacy, LCCI, told the News Agency of Nigeria (NAN) in Lagos...

Minister of Commerce, Trade & Investment Dr. Okechukwu Enelamah has assured Nigerians that the Federal Government was committed to providing an enabling environment for the private sector to thrive in the country. He said government was learning from Singaporean model, which though is a small country, but has become a...

  As Adeosun restates FG’s commitment to PPP model Vice-President Yemi Osinbajo, on Thursday, explained that the current administration decided to invest heavily in infrastructure because it is convinced the effort would translate into economic growth for the country. Speaking at the African Development Bank Knowledge Sharing Forum in Abuja,...

  By Niyi Jacobs The Minister of State, Ministry of Budget & National Planning, Mrs. Zainab Ahmed, has said that the 2017-2019 Medium Term Expenditure Framework (MTEF) has been prepared and approved by the Federal Executive Council (FEC) and is currently before the National Assembly for consideration . The minister...

The African Development Bank’s (AfDB’s) board on Wednesday approved a $600 million loan for Nigeria to solve the problem budget deficit brought on the country as a result of economic recession. A senior official of the development bank explained that the facility was the first tranche of the $1 billion...

The Federal Government will resubmit to the Senate a request to borrow $30 billion abroad up to 2018, which the house rejected on Tuesday, the Minister  Information and Culture, Alhaji Lai Mohammed told Reuters on Wednesday. According to him, "It is not unusual for the government and the Senate to...

From 42.5 index points at the end of September 2016, the Manufacturing Purchasing Manager’s Index (PMI) of the country came down to 44.1at the end of October 2016. According to the data from the Central Bank of Nigeria (CBN) website, the PMI report for October posted on its website on...

The Federal Government made capital release of N756.634 billion at the end of October, 2016 . This was contained in a data pushed out on Tuesday evening by the Federal Ministry of Finance in Abuja. The breakdown of how the money was made available to various ministries show that Power...

The Senate has rejected the proposal by the Federal Government for external borrowing of $30 billion for the execution of projects from 2016 to 2018. Considering the proposed plan sent to the Senate by President Muhammadu Buhari, Senators who voted ‘Nay’ had their way when the borrowing plan was put...