Nigeria’s Dependence on Oil Revenue Hinders Economic Devt – NESG The Nigerian Economic Summit Group (NESG) says Nigeria's failure to develop other viable economic sectors while depending on crude oil revenue has contributed to the worsening economic indicators such as rising inflation, unemployment, and a...

IMF Cautions Nigeria Govt on Climate Change, Food Insecurity Nigeria has been warned by the International Monetary Fund (IMF) to prepare for climate change and effect of floods this year. This was disclosed by the IMF African Department official, Mai Farid on during a session on...

We Are Working On Incremental Fuel Subsidy Removal - FG The minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has hinted that the executive arm of government is proposing an incremental removal of fuel subsidy, as she stated that subsidy is a problem...

Gambian Central Bank Wants CBN to Fix her Currrency Bug. The Central Bank of Gambia (CBG)has appealed to Nigeria’s Central Bank (CBN) in fixing the Gambia’s currency bug. The Gambian request is coming just as it also wants to tap from CBN’s wealth of knowledge and...

Foreign Reserves Depreciated By $790m       Nigeria’s foreign exchange reserves have depreciated by $790 million despite the rise in crude oil prices. The foreign reserves stood at $34.43 billion as at May 17 data from the Central Bank of Nigeria (CBN) website showed. Managing Director, Financial Derivatives Company...

Reps Direct NERC To Halt Electricity Tariff Hike       The House of Representatives has asked the Federal Government to direct the Nigerian Electricity Regulatory Commission (NERC) to halt with immediate effect, the proposed increase in electricity tariff scheduled to take effect from June 2021. Adopting a motion...