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Browse Nigerian economy news, research and analysis from Local and international analysts. Follow Nigeria’s financial and monetary policies from Central Bank of Nigeria and other business And economic indicators

Nigerian inflation seen at 14.15% in Q4 as virus takes toll on economy

By Chijioke Ohuocha ABUJA, Sept 14 - Nigeria inflation is expected to rise up to 14.15% at the end of December, the central bank said, citing supply shocks due to fall in economic activity and disruptions caused by the novel coronavirus pandemic. Inflation climbed to...

Nigeria naira drops by 1.06% on black market after Buhari’s order to ban FX for food imports

ABUJA, Sept 14 - The Nigerian naira fell by 1.09% to 460 naira on the black market on Monday after the president last week told the central bank to stop dollar sales for food and fertiliser imports. President Muhammadu Buhari on Thursday directed the...

COVID-19: Nigeria secures sea time for additional 400 cadets

By Chiazo Ogbolu Lagos, Sept. 14, 2020 The Nigerian Maritime Administration and Safety Agency (NIMASA) had secured more sea time berths for 400 cadets in spite of limitations caused by COVID-19 pandemic. The Director-General of NIMASA, Dr Bashir Jamoh, made the disclosure in a statement...

Commission collaborates with local institutions to boost economic growth

By Temitope Ponle Zuba (Niger), Sept. 14, 2020 The Fiscal Responsibility Commission (FRC) says it is collaborating with some local institutions to ensure effective utilisation and optimisation of the country’s resources to boost the economy of the nation. The Acting Chairman, FRC, Mr Victor Muruako said...

NDPHC to add 125 MW to national grid to boost electricity

By Constance Imasuen Abuja, Sept. 14, 2020 The Niger Delta Power Holding Company (NDPHC) says it plans to add 125MW of electricity to the national grid to boost power supply in the country. The Managing Director of NDPHC, Mr Chiedu Ugbo, disclosed this in Abuja...

Maize farmers to support FG’s food security drive

By Bukola Adewumi Abuja, Sept. 14, 2020 The Maize Association of Nigeria (MAAN), on Monday, pledged to continually support the Federal Government’s Agricultural policies and programmes. Dr Bello Abubakar, National President, made the pledge in an interview with newsmen in Abuja. According to Abubakar, the association will...

AFEX CEO see CBN’s farmers lending scheme expanding local agricultural output for longer term

By Libby George ABUJA - Mal Shehu Ladan took a boat across what was, until this month, a growing rice paddy. Now, like thousands of hectares of rice in Nigeria’s Kebbi state, it is under water. Almost all my farm has been flooded. I didn’t...

Total Debt Stock Hits N31.01 Trillion as Nigeria Receives $3.36 Billion Loan from IMF…

In the just concluded week, total debt figure released by the Debt Management Office (DMO) showed that Nigeria’s total public debt stock for the second quarter of 2020 increased by 8.31% to N31.01 trillion as at June 2020 (from N28.63 trillion as at March...

No negotiation or settlement talks over P&ID’s $10-Billion Legal Claim, Nigerian govt. insists

Nigeria said it won’t negotiate with Process & Industrial Development Ltd. over its $10 billion arbitration award, days after the country secured permission to challenge the claim. “There will be no negotiation or talk of settlement with P&ID or any related party by or on...

Nigeria eyes $2.6 billion savings after abolishing corrupt fuel subsidies

Nigeria expects to save as much as one trillion naira ($2.6 billion) a year after it abolished subsidies paid to guarantee cheap gasoline in Africa’s top oil-producing country Naija247news reports. Quoting reports from Bloomberg by Nigeria’s Petroleum Minister of State Timipre Sylva told reporters Thursday...
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