World Bank, IMF Plan debt reduction for IDA countries The World Bank and International Monetary Fund (IMF), have proposed to undertake a joint action plan on debt reduction for the most indebted International Development Association (IDA) countries. Mr David Malpass, the President, the World Bank Group,...

Fed Govt Says $750m Loan To Complement COVID-19 Stimuli         The Federal Government of Nigeria said the proposed $750 million loan for states under its Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) would complement other economic stimulus programmes. The Minister of State for Finance, Planning and...

‘FG To Interview Applicants Of N10bn Transport Fund’       Controversy has trailed the N10 billion intervention fund for the transportation sector following the emergence of various unions including those not registered, findings by Daily Trust shown. The development has delayed the disbursement of the fund, according to...

IMF Reverses Forecast For Nigeria’s Economy To -4.3% In 2020       The International Monetary Fund, IMF, Tuesday reversed Nigeria’s economy growth projection to -4.3 percent in 2020 from its earlier projection of -5.4 percent. The Fund also projected that Nigeria’s economy would grow by 1.7 per cent...

2021 Budget: Increasing IGR To Stave Off Debt Accumulation         Two things that stood out in President Muhammadu Buhari’s 2021 budget presentation at the National Assembly last week are the desire to steer the economy away from racking up debts to increasing its revenue generation capacity...

CBN Extends AGSMEIS Loans To 14,638 Applicants       The Central Bank of Nigeria has said it is extending its Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) loans to 14,638 applicants in August. In a communiqué from the last MPC report, it stated, “The Agri-Business/Small and Medium Enterprise...