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Devalue Naira Fully To Bring Investors, EU Advises Buhari

An official of the European Union (EU), Fillippo Amato, has advised the federal government to devalue the naira to attract new investors and find it way out of economic recession. In an interview with NAN, Amato, counsellor, head of trade and economics section of EU, on Monday said recession cannot ...

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Recession: Senate Passes 8 Bills for President’s Assent

The Senate of the National Assembly has passed eight Bills received from the House of Representatives for concurrence. The Bills, which are aimed at strengthening the laws of the Federal Republic, were considered and passed in a single sitting of the Senate – demonstrating According to the National assembly, the ...

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Budget Minister Seeks Donors’ Support For Made-In-Nigeria Focus

Nigeria’s Budget and National Planning Minister, Senator Udoma Udo Udoma, has asked international donor agencies to patronise made-in-Nigeria goods to support the government’s self-sufficiency drive. He said that their support through procurement of items required for the execution of their mandates in Nigeria would boost the nation’s focus to boost ...

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Oil Price Hits $50, Nigeria’s Exports To Rise

Global oil benchmark, Brent crude, extended its rally on Sunday to hit the $50 per barrel mark, the third time this year. This comes as the expected return of the Forcados export terminal has helped to boost Nigeria’s planned crude oil exports this month to about 1.98 million barrels per ...

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e.Stream Unveils 5 Year Expansion Plan For Business Growth

e.Stream Networks Limited, one of the country’s indigenous licensed broadband communications providers, has indicated strategies to outshine its competitors by providing quality service to its numerous existing and prospective customers in the ICT industry. The development came on the heels of the company’s celebration of its tenth year in operation ...

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Saraki Calls For Investigation On MTN’s Alleged Transfer Of $13.9 Billion

The leadership of the senate on Tuesday have agreed to investigate the alleged illegal transfer of $13.9 billion by Mobile Technology Nigeria(MTN) out of the country through its bankers between 2006 and 2016. Senator , representing Kogi West, Dino Melaye made the allegation at the floor of the house on ...

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Naira falls against dollar at 428 after MPC decision

The naira recently fallen against the United States dollar to 428 on Wednesday, down from 424 on Tuesday, as persistent dollar shortage continues to weigh on the economy. The major decline in the local currency against the greenback came a day after the Central Bank of Nigeria’s Monetary Policy Committee ...

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Lower Interest rate Is Not Magic Wand Out Of Recession- CBN

The Director, Monetary Policy Department of Central Bank Of Nigeria, Moses Tule, on Wednesday said reducing monetary policy rate other wise known as “interest rate” will not in any way take Nigeria’s economy out of recession. Tule , speaking on ChannelsTV Sunrise Daily monitored by Nigerian Current said to spend ...

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MPC Leaves Rate Unchanged, Reduction Will Worsen Inflation, Says Emefiele

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele yesterday defended one of the bank’s core functions of ensuring price stability and counselled against calls to reduce the Monetary Policy Rate (MPR) in order to lower the cost of funds needed to stimulate economic growth and aid ...

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Niger Delta Militants Are Responsible For Economic Recession -Osinbajo

Vice-president, Yemi Osinbajo has said the activities of Niger Delta militants and vandals are the reason the country is in recession. Osinbajo speaking on Monday at a business briefing with the private sector and the Economic Management Team (EMT) siad the country is losing one million barrels of oil per ...

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