IMF Says One-third Of World Economy Will Enter Recession   The International Monetary Fund (IMF) has warned of an impending recession that will hit one-third of the world in 2023. The Managing Director, IMF, Kristalina Georgieva, disclosed this during an interview with CBS, an American broadcast television...

In Five Years, Presidential Panels Gulp N15bn   About N14.79bn was earmarked for presidential committees supervised by the Office of the Secretary to the Government of the Federation between 2018 and 2022. This came as President Muhammadu Buhari inaugurated at least 10 committees and councils in 2022...

Banks Borrowed N11.01trn From CBN In 2022   Deposit Money Banks (DMBs) and Merchant Banks borrowing from the Central Bank of Nigeria (CBN) discount window known as the Standing Lending Facility (SLF) dropped to N11.01trillion in 2022, representing a decline of 15 per cent from N13.01...

World Bank Says CBN Loan Repayments To Gulp 62% Of Revenue   The World Bank has projected that interest payments on the Federal Government’s borrowing from the Central Bank of Nigeria will gulp about 62 per cent of government revenue by 2027 despite the restructuring plan. The...

Household Food Imports Rise By 71% In Four Years   Food and beverage imports for households rose by 71.12 per cent between the third quarter of 2018 and the corresponding quarter of 2022 despite the foreign exchange crisis in the country. This was based on data from...

"Nigeria’s Corporate Tax Rate, Global Highest"   The Centre for the Promotion of Private Enterprises (CPPE) has called for the review of Nigeria’s tax laws, saying that the corporate tax at about 34 percent represents the highest globally. The firm noted that the current tax regime stifles...