The federal government on Wednesday expressed optimism that the Nigerian economy was on the path of recovery, assuring the public that the country would crawl out of recession before the end of the year. Making this disclosure while briefing journalists at the end of the...

The executive directors of the International Monetary Fund have adopted a proposal to promote Islamic Banking (IB) due to its popularity in the global financial system. The board, at the end of its first formal discussion on IB, adopted a set of proposals on the...

Nigeria’s finance minister, Kemi Adeosun says the country will not apply for an IMF, International Monetary Fund loan as it is pursuing its own economic reform plan. “For us the IMF is really a lender of last resort when you have balance of payments problem....

The International Monetary Fund (IMF) has projected 0.8 percent GDP growth for Nigeria in 2017, a little below World Bank’s projections of 1percent growth for the period. Both projections are signifying Nigeria’s economic recovery from the current recession. In a global economic outlook report released, the...

The Federal Government has said it was looking the way of the International Monetary Fund, IMF, and the World Bank for some of its external borrowings to boost the economy out of recession. According to the government, both institutions have some “concessionary terms” attached to...

President Muhammadu Buhari last week wrote the National Assembly seeking approval to borrow $29.96 billion under the External Borrowing (Rolling) Plan to address the infrastructure deficit in the health, education, water resources and other sectors. The president’s letter, which was read at plenary by the...