Budget Support: IMF, World Bank Conditions Behind Subsidy Withdrawal, Electricity Tariff Hike     The Federal Government’s removal of petrol subsidy and the increase in electricity tariff are in line with reforms being sought by the International Monetary Fund and the World Bank, economic experts have said. The...

Nigeria Risks Loss Of $600m On Imported Meters     Nigeria may lose over $600 million to capital flight in favour of China in addition to hurting the local content pursuit with the recent presidential approval to defer for one year, the 35 per cent import taxes...

Recession Will Be Short-lived — Finance Minister     The Central Bank of Nigeria, CBN, yesterday, directed licensed bureaux de change operators to sell dollars to customers at a rate not higher than N386 to the dollar. This came as the Federal Government, yesterday, said despite the N2.3...

FG Suffers N1trn Revenue Shortfall In Five Months     The Federal Government on Monday released guidelines and instructions that must be followed by all its ministries, departments and agencies for the preparation of the 2021 budget proposal. In its 2021 Budget Call Circular from the country’s budget...

Budget: Fed Govt To Spend N12.657trn In 2021     The federal government is to spend the sum of N12. 658 trillion in 2021, going by the 2021 budget which is being prepared by the Federal Ministry of Finance. According to the Budget Call Circular referenced HMFBNP/2000/EXP/S.800/1/3/35 by...

Second Recession In Four Years Looms, Says Fed Govt     The Federal Government has said the likelihood of Nigeria sliding into another recession in the Third Quarter of 2020, making it the second time within four years. The government said the COVID-19 pandemic resulting in crash of...