Terms for states as N500b Paris Club refund is ready – Presidency

Another London-Paris Club loan refund (about N500 billion) is on the way for states while posing fresh hurdles for governors. The Presidency has made it mandatory for all the states…

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Budget padding: Senate uncovers N2bn inserted into Fashola’s proposal

Drama ensued on the floor of the Senate at the ongoing budget defence as the Minister of Power, Works and Housing, Mr. Babatunde Fashola could not explain how N2bn ‘walked…

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FAAC: Monthly Allocation Increases By 13 Billion Naira

The federal allocation committee says monthly allocation to the three tiers of government has increased by 13 billion naira from the month of December, 2016. Speaking with journalists after the…

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Nigeria’s distributable revenue rose by 3.4 percent in December

Nigeria’s distributable revenues to the government rose in December by 3.4 percent to 400 billion Naira ($1.31 billion) as the country collected more royalties from oil, the Minister of finance…

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2017 Budget Deficit Financing: Nigeria’s efforts to secure international loans hit deadlock

Nigeria’s efforts to secure funds from international lenders to help haul it out of recession have stalled because it has not submitted the required economic reform plans, according to one…

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Government plans N510 billion budget support for states

The Federal Government said it has concluded arrangement to assist states in funding their budgetary plans with a N510 billion fiscal stimulus plan known as ‘Budget Support Programme.’ The 12-month…

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CBN will eliminate Naira Black Market – Kemi Adeosun

Central Bank of Nigeria will try to eliminate the currency black market, where the naira trades about 40 percent below the official rate against the dollar, Minister of Finance, Kemi…

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Nigeria has commitments for $500 mln of its planned Eurobond

Nigeria has $500 million of commitments for the planned $1 billion eurobond it intends to issue before the end of the year and any decision to increase the size of…

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From ‘poorly qualified’, The Economist says Adeosun is a ‘tenacious’ minister

The English newspaper that referred to Kemi Adeosun, Nigeria’s finance minister, as “poorly qualified” eight months ago — now says she is a “tenacious minister” fixing the country’s economy. In November 2015,…

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Economic Recession : Reduce Interest Rate to boost economy, Finance minister urges CBN

Nigerian finance minister Kemi Adeosun said on Monday she wanted the central bank to lower interest rates so that the government can borrow domestically to boost the economy, which is…

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