...Lawmakers demand sacking of Emefiele Members of the House of Representatives were angry as they ordered an investigation into the scarcity of foreign exchange in the country. The naira, which exchanged for N490 to the United States dollar last Thursday on...

...Budget constraint hampering road construction, says Fashola ...FG approves N3.5bn for prisons to buy 350 vehicles The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria will soon close the deal on a $3 billion to $4...

The International Monetary Fund has warned that the current economic crisis in Nigeria may spill over to the rest of West Africa with negative consequences. It also raised the alarm that Nigeria was spending too much of her revenue to...

The Nigerian National Petroleum Corporation announced that it had commenced the integration of biofuels production from selected energy crops through its agriculture development programme. It stated that it had started mobilising to site on a first large-scale commercial biofuels venture...

Nigeria has dropped three places to the 127th position on the latest World Economic Forum’s (WEF) Global Competitiveness Index (GCI) for 2016-2017, out of 138 countries surveyed. The country was previously ranked 124th on the index. At 127th position, Nigeria only...

The scarcity of foreign exchange will remain challenging in the second half of 2016 due to low oil prices, which may push up credit risks for commercial banks as naira weakness makes loans harder to service, the Central Bank...