economy

Governor Ayodele Fayose of Ekiti State, has promised to continue to prosecute programmes that will make life more meaningful for Ekiti people, within the ambits of his administration’s six-point development programmes. Fayose in his new year message said, although the implication of the adverse...

The President, Christian Association of Nigeria, Pastor Ayo Oritsejafor, has congratulated Nigerians on the occasion of the New Year celebration, noting that “the true Nigerian spirit was tested in the course of the year (2015) and the rest is now history.” According to PUNCH, the cleric, in...

President Buhari says the devaluation of the naira is not favourable to Nigeria’s economy considering that ours is a consumer economy. He said this while having his first edition of the Presidential Media Chat.

Nigerians have been told to expect a bleak economy in 2016. According to the magazine’s analysts, early signs are of a worrying resurgence of economic nationalism, stressing that economic growth under the presidency of Muhammadu Buhari will be “uninspiring” in 2016. “Given policy uncertainties...

President Muhammadu Buhari has explained that despite the fall in the international price of crude oil, measures taken to block leakages in the nation’s revenue generating agencies would ensure enough cash to fund the N6 trillion budget he recently submitted to the National Assembly. The...

International Monetary Fund has predicted that crude oil prices may slump to as low as $20 per barrel in 2016. In the ‘IMF Executive Board Concludes 2015 Article IV Consultation with Iran’ report, the body highlighted that the price of crude oil could drop by between $5 and $15 in 2016...

Former vice president of the World Bank, Mrs Obiageli Ezekwesili has criticized the policies of the Central Bank of Nigeria (CBN) under the leadership of Mr Godwin Emefiele. Ezekwesili, a former member of the federal executive council, condemned the CBN for pursuing what she described as an...

Senator Murray Bruce has reacted to the co-efficient of naira-dollar at the parallel market. See comment:

After all ministers had arrived the Presidential Villa, Abuja for the commencement of an emergency meeting of the Federal Executive Council, FEC, scheduled for 10am, President Muhammadu Buhari postponed the meeting meant to consider the 2016 budget till next week Monday. The President is...

The Economic and Financial Crimes Commission (EFCC) has revealed that it will invite top officials in the Goodluck Jonathan administration that had a hand in the disbursement of funds related to the arms purchase. According to Vanguard Newspapers, a top EFCC source said top on the list is the...

Minister of Information and Culture, Alhaji Lai Mohammed, yesterday assured Nigerians that there would be light at the end of the tunnel. He said the 2016 national budget would alleviate the hardship being experienced now. This, he noted, was brought about by the sleaze and looting in the...

The Minister of Finance, Kemi Adeosun, has indicated that next year shall be tough for Nigeria, and that the Federal Government will make extremely tough decisions. Adeosun gave this forecast while speaking at the opening of the 7th Annual Bankers Committee retreat yesterday in Lagos, noting...

About 28 states in the country might have gone technically bankrupt in Nigeria was raised by the governor of Oyo State, Senator Abiola Ajimobi at the 7th annual Lateef Femi Okunnu lecture in Obafemi Awolowo University, Ile Ife over the weekend. Expressing similar sentiments, his Osun State...

The Naira crashed further against the dollar from 247 last Thursday to 251 on Saturday at the parallel market. This came barely one week after the Central Bank of Nigeria cut foreign exchange supply to Bureau De Change operators. The central bank had during its weekly forex sale to the BDCs...

The Osun State Governor, Rauf Aregbesola, has implored Nigerians to pray for the sustainability and revival of the ailing economy of the country. The Governor who stated this while addressing Christian faithful at a two-day crusade organised by The Deeper Life Christian Ministry in Osogbo...

The Governor of Osun state, Mr Rauf Aregbesola has said that states of the federation must look inward for their survival as funds coming to them from the federation account can no longer support their development projects. Aregbesola said with Osun’s receipt of N55 million for the month of...

The Senior Staff Association of Nigeria Universities (SSANU), yesterday, said that mass unemployment looms in the country following epileptic power supply that is hampering the operations of industries. National President of SSANU, Comrade Samson Ugwoke who raised the alarm at the SSANU 2015...

According to International Monetary Fund’s World Economic Outlook database figures released yesterday, Nigeria’s gross domestic product (GDP) is set to total $1.105trn in 2015, representing a 5% growth from last year. The International Monetary Fund has ranked Nigeria as the 22nd largest...

Senator Athan N. Achonu of the Peoples Democratic Party (PDP ) representing Imo North, has attributed the on-going agitation for the realization of Biafran state as a result of unemployment among the youths which is worsening economic situation in the country. The senator, who spoke over the...

The Minister of Information, Alhaji Lai Mohammed, insisted on Tuesday that funds that have accrued to the Treasury Single Account remain intact, challenging anyone who has any fact and figure to the contrary to make such information public. He added: “For the sake of Nigerians at home and in...