NIGERIA enjoyed a N318bn ($832.21m) increase in revenue during the month of February as a result of a rally in global oil prices as the production cuts introduced by the Organisation of Petroleum Exporting Countries (Opec) is having a positive effect on the market.
Heavily dependent on crude oil for survival, Nigeria lives...
NIGERIA has still not made any budgetary provision for the purchase of a Covid-19 vaccine despite plans to purchase about 218.m doses of the new coronavirus vaccine in a bid to combat the second wave of the virus.
With the second wave of the virus sweeping across the globe, Nigeria has been told she needs to set aside...
NIGERIA's federal government is planning to borrow an extra N5.6trn ($14.6bn) during the course of this year to help fund the 2021 budget as the economic meltdown precipitated by the coronavirus pandemic has made it impossible to raise the N13.59 ($35.4bn) budgeted.
Faced with an impossible economic situation, Nigeria's...
NIGERIA is poised to obtain another significant loan from after the Bank of China and Sinosure committed itself to funding 85% of the loan requirements of the proposed Ajaokuta-Kaduna-Kano (AAK) gas pipeline project.
Seen as a means of piping gas to Nigerian consumers, the AKK pipeline is a 614km-long natural gas conduit....African News
Ayo Akinfe
(1) In 2019, US foreign direct investment (FDI) worldwide totalled $5.96trn
(2) Within the US itself, FDI during that period totalled $246bn, with about $125bn of this coming from Japan
(3) Every industrialised nation worldwide takes FDI very seriously because it opens up new markets for their goods, creates ancillary...
NIGERIA'S avoided total economic collapse earlier this year at the height of the coronavirus pandemic lockdown in April when crude oil prices collapsed to such a low level that the federal government was begging buyers to make purchases at $9 a barrel.
Being a mono-economy, over 90% of Nigerian government revenue comes from...
NIGERIA has entered into her worst recession in four decades as the economic fallout from the coronavirus pandemic looks set to decimate the economy in a devastating manner last witnessed in the 1980s when oil prices collapsed.
Being a mono-economy, over 90% of Nigerian government revenue comes from the sale of crude oil and...
NIGERIA's federal government is seeking the approval of the National Assembly for a $1.2bn loan from Brazil to finance its proposed agricultural programmes contained in the 2021 budget.
In August, President Muhammadu Buhari presented Nigeria's most ambitious budget ever to the National Assembly when he unveiled a...
FINANCE minister Zainab Ahmed is confident that when the new Kaduna steel mill is up and running it will spark off the Nigerian industrial revolution as it will have the capacity to produce 1m tonnes a year.
Currently a mono-economy in which over 90% of government revenue comes from the sale of crude oil, Nigeria...
PRESIDENT Muhammadu Buhari has presented Nigeria's most ambitious budget ever to the National Assembly when he unveiled a record-breaking N13trn ($33.68bn) package before lawmakers this morning.
Historically, Nigeria's budget has averaged between $20bn and $25bn but for 2020, the federal government presented a radical one of...
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