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ECA brings experts, govt officials to discuss South African economy

The ECA office for Southern Africa will organize the Twenty-Fourth Session of the Intergovernmental Committee of Experts (ICE) of Southern Africa on the theme “Blue Economy, Inclusive Industrialization and Economic Development in Southern Africa” from the 18th – 21st September 2018 at the Le Méridien Hotel, Pointe aux Piments, Mauritius. The 24th ICE of Southern Africa will…

How swings in oil prices affect Nigerian economy

On the face of it, there is nothing exceptional about Nigeria’s current economic crisis; it is simply the manifestation of years of the State’s dependence on revenue from the volatile commodity that is crude oil; a persistently unhealthy domestic business environment; external trade shocks; wilful dysfunction between fiscal and monetary policies; weak institutions and the…

Buhari assures Niger Delta on review of 13% derivation

President Muhammadu Buhari Friday in Abuja said his administration will look into the constitutional 13 per cent derivation benefit to the Niger Delta region to ensure even spread of developmental projects that meet the needs of the people. Receiving Isoko Traditional Rulers and personalities led by His Majesty Ovrawah, Omogha 1, Odiologbo of Oleh, at…

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…

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