2023 Budget: Reps Commence Second Reading, Debate Estimates   The House of Representatives will on Wednesday (today) commence the second reading of the 2023 Appropriation Bill, with members expected to debate the general principles of the Federal Government for the next fiscal year. Deputy Speaker of the...

IMF Lowers Nigeria’s Economic Growth Projection To 3.2%   The International Monetary Fund (IMF) has lowered Nigeria’s 2022 economic growth projection to 3.2 per cent. This is 0.2 percentage points lower than the 3.4 percent projected in its July 2022 report. The Washington-based institution disclosed this on Tuesday...

FG Spent $11.6m On Armoured Vehicles Amid Forex Scarcity   While the country battled with shortage of foreign exchange, the Federal Government spent $11.56m on remodelling and refurbishing 107 armoured vehicles which were donated by the Hashemite Kingdom of Jordan. The Second Quarter and Half-Year 2022 Budget...

National Assembly To Pass Appropriation Bill December - Lawan   The Senate President, Ahmad Lawan, has said that the National Assembly will pass the 2023 Appropriation Bill of N20.5 trillion before the end of December. He made this known on Tuesday at a reception organised in his...

CBN’s Lending To Commercial Banks Drops by N350bn   Data obtained from the Central Bank of Nigeria (CBN) suggest that money deposit banks (DMBs) could be struggling to park excess cash holdings despite low access to funds by the real sector. According to the financial data, DMBs’...

Insurance Industry Assets Hit N2.3trn - NAICOM   The total assets of the country’s insurance industry have increased to N2.3 trillion in the second quarter of 2022, growing by 11.9 per cent or N200 billion from the second quarter of 2021. The non-life business assets stood at...