ECONOMY

The Senate President, Dr Bukola Saraki, has supported the calls for the sales of oil assets of the Federal   Government to tackle the current economic recession ravaging the country. It was the richest man in Africa, Alhaji Aliko Dangote who first flew the kite and it has become a sing...

The Vice President, Prof. Yemi Osinbajo, has reaffirmed the importance of the role of the private sector in the economic recovery programme of the Federal Government. He gave the affirmation on Monday at the Presidential Quarterly Business Forum with the private sector held at the Banquet Hall of the Presidential...

Minister of Finance, Mrs Kemi Adeosun has expressed the wish that the Central Bank of Nigeria (CBN) lowers interest rates so that the government can borrow domestically to boost the economy without increasing its debt-servicing costs. Speaking on Monday in an interview on CNBC Africa television, Adeosun said she was...

Professor Pat Utomi has blamed current economic recession on faulty policy and regulations of President Muhammadu Buhari’s administration. Utomi who spoke in Lagos at the weekend said Nigeria’s economic challenges goes beyond the fall in oil price at the international market. According to him, “Oil, even though it is special...

As the fifth session of the Monetary Policy Committee (MPC) meeting this year begins today and ending tomorrow, analysts have predicted that there may not be changes in policy rates. They are, however, unanimous that there is need for more accommodative fiscal and monetary policies alongside structural reforms that will...

  Praises CBN’s Anchor Borrowers’ Scheme Banks’ deposits are mainly short-term in nature and lending such funds to customers for long-term can lead to asset mismatch, Managing Director/CEO, Fidelity Bank Plc, Namdi Okonkwo has said. The bank chief who spoke at the 2016 Annual Conference of the Finance Correspondents Association...

Director, Development Finance Department, Central Bank of Nigeria (CBN) Mr Mudashiru Olaitan has revealed that the apex bank has set up committee to review its policy on the non-oil Export Stimulation Facility (ESF) which includes N500 billion low interest rate non-oil export facility. Business247 News Online recalls that the ESF...

The President of Dangote Group, Alhaji Aliko Dangote has said that a wave of asset selling by the government could be the best way to tackle the problem of economic recession ravaging the economy. Speaking at CNBC programme on Friday, Dangote said:  “I think the real challenge for us is...

Nigeria plans to raise $1 billion on the Eurobond market this year in a move designed to plug a budget deficit, said the country’s Finance Minister, Mrs Kemi Adeosun said on Friday. Speaking at a press conference in the nation’s capital of Abuja, Adeosun said the government had earlier this...

S&P Global Ratings downgraded Nigeria further into junk territory as the country struggles amid low oil prices and severe shortages of foreign-exchange. S&P lowered Nigeria’s rating one level to B, five levels below investment grade and in line with Kyrgyzstan and Angola. The outlook was changed from negative to stable....