Economy
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FG borrows N1trn to fund fuel subsidy
The Federal Government has borrowed N1 trillion to subsidise petrol this year, the Debt Management Office (DMO) said Tuesday. Its…
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Naira crumbles to N712 per dollar, records a new low rate of 11th out of 19 worst currencies globally
Nigeria’s foreign exchange (forex) position remained tenuous at the weekend with continuing decline in the national currency and the country’s…
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Rate hikes may trigger recession, World Bank warns FG
The World Bank Group has cautioned Nigeria as well as other developing economies that simultaneous rate hikes in response to…
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Rising Energy Cost: Manufacturers spend N639bn on power, self-generate over 14,000mw
Rising energy costs are disrupting productive activities in Africa’s most populous nation as factories self-generate more than 14,000 megawatts of…
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Pain, anguish as Nigeria’s debt hits N42.8tn amid shrinking revenue
The Debt Management Office (DMO) has disclosed that Nigeria’s total public debt stock has increased from N41.60tn as of March…
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Hardship, as inflation rate hits 20.5%, highest since 2005
Nigerians are gasping for breath as the inflation rate rose by 0.92 basis points to 20.52 per cent in August…
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2023-2025 MTEF: Senate, Minister disagree over N12.43tn budget deficit
The Senate, through its Committee on Finance, has disagreed with the Minister of Finance, Budget and National Planning, Zainab Ahmed,…
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Hash Economy: CBN, Finance Ministry should review economic policies, increase purchasing power of Nigerians – ISAN
The Central Bank of Nigeria (CBN) and the Ministry of Finance have been called upon as a matter of urgency…
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N41.60trn Debt Profile: Go home and address your staggered exchange rates, over-bloated fuel subsidy, World Bank tells Osinbajo in US
As the Vice President Professor Yemi Osinbajo, leads Nigeria’s delegation to the United States of America for another talk show…
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New booster for bank savings as CBN increases interest on deposits
Bank customers are expected to start enjoying more interest on their savings following a directive by the Central Bank of…
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