Dollar Shortage, Subsidy, Deficit Financing Threatening Nigeria’s Growth – W/Bank   The World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage, petrol subsidy and the fiscal deficit financing by the Central Bank of Nigeria. The bank disclosed...

Two Million Farmers To Recieve N12.3bn Subsidy From FG       Over 2.2 million farmers are to receive about N12.3bn as agricultural subsidy from the Federal Government in coming weeks, it was gathered on Sunday. Presidency officials confirmed that President Muhammadu Buhari had already approved a N6.15bn agricultural...

Subsidy, Debt Servicing May Push Deficit Above N7trn This Year       The possibility of the Federal Government resorting to further borrowings or ‘ways and means’ (government facility from the Central Bank of Nigeria) to cushion the effect of revenue shortfall is imminent due to the rising...

Oil Price: Experts Dismiss Gains As Subsidy Nears N200bn       After the international crude oil benchmark, Brent advanced above $70 as the PUNCH reported earlier in the month, industry experts see meagre benefits as subsidy payments gulp revenues. The Federal Account Allocation Committee report for May, value...

Airline Operators Seek VAT Waiver, Subsidy On Staff Salaries   Airline Operators of Nigeria (AON) on Tuesday outlined possible areas of palliatives to cushion the effect of the lockdown on domestic airlines. Among the “low hanging fruit palliatives” which the operators want the Federal Government to...

FG May Save N450bn Subsidy As Petrol Landing Cost Crashes The sharp drop in crude oil prices on the back of the spread of coronavirus has wiped off subsidy on petrol, with the landing cost of the product hitting a record low. The expected open market...