Economy
W’Bank projects 102% debt service, revenue for Nigeria
The World Bank has said that public debt in Nigeria is concerning due to the rising debt service-to-revenue ratio. According...
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Economists forecast naira slide, inflation as campaigns begin
Economists have warned that Nigeria’s ailing economy might be worsened as political parties and their candidates begin electoral campaigns for...
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Stock investors record N14bn gain
The stock market ended the session with a bullish trend as the market rebounded with a gain of N14bn on...
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Agusto & Co: Renewable Energy Will Attract $472bn Investment in 2022
As the net-zero carbon emissions ambition of world leaders is accelerating the global shift away from hydrocarbon-based energy sources, $472...
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Nigeria’s economic outlook uncertain, welfare worsening – W’Bank
The World Bank has said that Nigeria’s economic outlook is uncertain and its ability to attract domestic and foreign investments...
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Motorcycle ban hits traders, imports crash by 36%
Traders are hard hit by the ban of motorcycles in several states and the threat by the Federal Government to...
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Nigeria’s debt hits N42.84tn amid revenue crisis
Domestic debt has pushed Nigeria’s total public debt stock from N41.60tn as of March 2022 to N42.84tn as of June...
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Customs sell impounded vehicles as scraps, auctioneers kick
The Nigeria Customs Services has allegedly sold about 6,000 impounded vehicles and other items to selected firms and individuals, The PUNCH has...
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Nigeria’s 56% agricultural land not in use – Minister
The Federal Government said on Thursday that a lot of opportunities abounded in the agricultural sector as over 56 per...
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US plans $12bn for climate action in Nigeria
The United States Government on Tuesday signed various agreements with the Federal Ministries of Environment, Petroleum Resources, and Agriculture and...
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Angola, Libya overtake Nigeria in crude production – OPE
Nigeria’s oil production plunged to 972,000 barrels per day in August 2022, as Angola and Libya overtook Nigeria by producing...
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FG loses 13.21m-barrels oil worth N603.64bn in 2022
Nigeria lost about 13.21 million barrels of crude oil with an estimated worth of N603.64bn between January and August this...
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Nigeria imports 155bn salt, local industries wobble
Nigeria spent at least N155bn within the last two years on the importation of salt and other locally available products...
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FG to end petrol subsidy in June 2023
The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2022, on Thursday,...
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Power generation falls by 503MW, workers threaten strike
Nigeria’s power generation dropped by 502.7 megawatts on Tuesday as members of the National Union of Electricity Employees and their...
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Nigeria loses N101bn worth of oil, says OPEC
Nigeria’s crude oil production plunged by 2.3 million barrels in July 2022 when compared to what the country produced in...
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Diesel hike: NRC reduces Lagos-Ibadan trips by 67%
The hike in diesel price has forced the Nigeria Railway Corporation to reduce the number of trips on the Lagos-Ibadan...
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How inflation worsens plight of Nigerian workers
Workers have continued to groan under the adverse effect of inflation on their income, Deborah Dan-Awoh reports Economists define inflation as the...
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FG to capture schools’ security in 2023 budget
The Federal Government has promised to include the security of schools in the 2023 budget. Speaking at the safe-school summit...
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Nigeria’s budget deficit hits N30.58tn in seven years
Budget deficit has risen to at least N30.58tn in the last seven years. This is according to data from budget...
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Dangote Cement deploys grinding plants in Ghana, Cote d’Ivoire
The Chief Executive Officer, Dangote Cement, Michel Puchercos, has said the company is boosting production in its Okpella plant, Nigeria,...
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Subsidy probe: Reps say 23 oil firms unknown
The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2021 has said...
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Food crisis imminent, Reps raise the alarm
The House of Representatives has raised the alarm over the looming food shortage in Nigeria, calling on the Federal Government...
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Revenue falls by N1.89tn, Nigerians face tougher times
Amid a projection by the Federal Government to spend a whopping sum of N6.7tn on fuel subsidy next year and...
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Nigeria’s inflation overshoots World Bank projection by 20%
DESPITE raising its Monetary Policy Rate (interest rate), Nigeria’s inflation rate is now 20 per cent above the World Bank’s...
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