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IMF raises concerns over Nigeria’s revenue shortfall, low lending

The International Monetary Fund, IMF, in its latest review of Nigeria, raised some concerns about Nigeria’s revenue shortfalls and low private sector lending. According to the Fund, Nigeria’s recovery from the 2015/2016 recession was supported by higher oil prices and short-term portfolio inflows. The Fund has also raised its forecast for Nigeria’s growth rate in…

Prisons Capital Budget hits over N16bn – Ja’afaru Ahmed

… Says Awareness Campaign Responsible The Nigeria Prison Service(NPS) has said that its capital budget allocation has ballooned from a paltry N4billion in 2015 to N14 billion in 2016 and now N16.6 billion in 2017 which will still be maintained in the 2018 budget. The Controller General of Prisons(CGP) Mr. Ja’afaru Ahmed disclosed this when…

Economy: Facts are stubborn things – Presidency

The Presidency, on Thursday, corrected the erroneous opinion being held by some Nigerians about the country’s economy. In a statement by the Special Adviser on Media and Publicity to the President, Mr Femi Adesina, the economy has recovered from the slow-down and eventual recession, which started in 2014. “Some people have made it a pastime…

NBS: Tomato, egg prices increase

Selected food price watch data for April 2018 reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 6.45% and month-on-month by 4.70% to N552.09 in April 2018 from N527.32 in March 2018, according to National Bureau of Statistics, NBS. However, the average price of piece of Agric eggs…

Transport fare in Lagos increased 3.88%

Transport fare in the Lagos metropolis increased in April, according to transport fare watch report by Proshare. Indeed, the report for April 2018 covers the following categories namely bus journey within the city per drop constant route ; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by…

Senate passes N9.12trn budget, up oil benchmark $51

The Senate of the Federal Republic of Nigeria has passed the 2018 Budget, which it received from President Muhammadu Buhari in November, 2017. President Buhari presented a budget of N8.6trn to the National Assembly christened “Budget of Consolidation”, but the senate increased by 6% (an additional N508bn) taking it to the current amount of N9.12trn….

How young people are building Nigeria – Osinbajo

*VP celebrates success stories of several young Nigerians *Calls for the Nigerian bridge to connect ethnicities, dialects, religion, politics and generations “My point is that we can contribute in profoundly transformative ways to changing our society by just doing our bit with excellence.” – Vice President Osinbajo FULL TEXT OF THE KEYNOTE ADDRESS DELIVERED BY…

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