The federal government repeated recourse to its Ways and Means facility (WMF) with the central bank (CBN) highlights weaknesses in public finance management, says Fitch Ratings. Sustained use of direct monetary financing could raise risks to macroeconomic stability – given…
The President, African Development Bank (AfDB), Akinwumi Adesina, has said that Africa remains fertile ground for investment, but much hinged on the continent’s ability to boost its healthcare sector. Adesina spoke on Wednesday at the Africa Investment Conference, a virtual…
The African Development Bank (AfDB) and the European Investment Bank (EIB) have signed a Joint Action Plan to strengthen cooperation between both banks and support investment across Africa. The signing ceremony for Joint Action Plan with EIB was organised virtually…
The National Bureau of Statistics (NBS) has said average air fare increased by 18.54 per cent Year-on-Year (YoY) performance in December 2020. The bureau said the Transport Fare Watch report for December 2020 covers the following categories namely bus journey…
Naira at the Investors & Exporters Foreign Exchange (I & E FX) depreciated by 0.21 per cent to close at N394.17 against the dollar on Wednesday. Also, Naira closed up by 2.93per cent and 3.15 per cent against the Euro…
Federal Govern-ment has pledged its commitment to supporting Micro, Small and Medium Enterprises (MSMEs) in order to create more job opportunities for the nation’s teeming youths. The Director General of Small and Medium Enterprises Development Agency (SMEDAN) Alhaji Dikko Radda…
The Chartered Institute of Bankers of Nigeria Centre for Financial Studies, (CIBN) has said that there was an acceleration of digital customer services and interactions in 2020 due to the COVID-19 crisis. CIBN President, Mr Bayo Olugbemi, made the disclosure…
The average price paid by consumers for premium motor spirit (petrol) increased by 14.00 per cent year-on-year from N145 to N167 in December 2020, the latest report by the National Bureau of Statistics (NBS) has revealed. The report titled, “Premium…
Following the successful activation of the Economic Sustainability Plan’s (ESP) Cash Transfer scheme, Vice President Yemi Osinbajo, has said the vision of reducing extreme poverty by lifting at least 20 million Nigerians out of poverty in the next two years…
The Federal Inland Revenue Service (FIRS) collected N4,952,243,711,728.37 in total tax revenue in the year 2020. This landmark achievement represents approximately 98% of the national tax target of N5.076 trillion set for the FIRS by the Federal Government. This was…
