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The value of the naira went in different directions at the Investors and Exporters window of the official and parallel market last week as tension between North Korea and the United States impacted the value of the dollar at the international foreign exchange market. Tension between the two countries have over the past weeks heightened…
August 14, 2017
The Central Bank of Nigeria (CBN) has disclosed that foreign reserves appreciated by $554.7 million or 1.8 per cent in July, to bring the year till date growth to 19.3 per cent. The foreign reserves closed July at $30.8 billion from $30.29 billion it opened the month under review. The $30.8 billion foreign reserve…
August 10, 2017
Deficit To Rise From N2.35trn To N2.77trn In 2018 The Federal Government on Thursday has said it was targeting a budget sum of N7.9trn for 2018 as against N7.44trn budgeted for this year, expected to be sent to the National Assembly at the beginning of October this year. This was disclosed in Abuja by the Minister of…
July 28, 2017
The monetary policy committee of the Central Bank of Nigeria (CBN) has retained MPR at 14 percent and all other parameters at their current levels. The CBN Governor, Mr Godwin Emefiele, who addressed the press after the meeting on Tuesday, hinged the bank’s decision on the need to halt inflation while also supporting growth. The…
July 25, 2017
Acting President, Yemi Osinbajo, has said that ‘Nigeria is fast moving toward becoming one of the 15 largest economies in the world. Osinbajo who was received by the Zamfara State Governor, Adulaziz Yari made the statement on Tuesday at the palace of the Emir of Gusau, Alhaji Ibrahim Bello, as part of his one-day visit…
July 18, 2017
The Federal Executive Council (FEC) on Wednesday approved for release the sum of N2.7 trillion following the outcome of an exhaustive committee report that ascertained the level of Federal Government’s debt profile. A larger chunk of the fund would go into settling outstanding debts consisting of N740 billion pensions and promotional salary arrears (not discounted),…
July 13, 2017
The New Diplomat with Agency Report The Organisation of Petroleum Exporting Countries, OPEC, has said that world’s demand for its crude will slide next year. According to the Cartel on Wednesday, despite OPEC’s effort to curb the glut, shale producers and other non-OPEC producers will flood the market, leading to decrease in demand for crude…
July 12, 2017
By Akanimo Kufre The Federal Government has emphasized the need for effective collaboration with Civil Society Organizations (CSOs) in ensuring effective implementation of public policies, plans and budgets in Nigeria through involvement in advocacy, monitoring and evaluation. Acknowledging the potency of the CSOs in such roles at a Situation Room Dialogue on the 2017 Budget…
July 6, 2017
The first half of the year saw Nigeria’s external reserves peaked at $30.27 billion, indicating a rise by 16% from the January figure of $26.27 billion. Data from the website of the Central Bank of Nigeria (CBN) shows that nearly $6 billion was sold in the foreign exchange market during the period. The Director, Banking…
July 5, 2017
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The value of the naira went in different directions at the Investors and Exporters window of the official and parallel market last week as tension between North Korea and the United States impacted the value of the dollar at the international foreign exchange market. Tension between the two countries have over the past weeks heightened…
August 14, 2017
The Central Bank of Nigeria (CBN) has disclosed that foreign reserves appreciated by $554.7 million or 1.8 per cent in July, to bring the year till date growth to 19.3 per cent. The foreign reserves closed July at $30.8 billion from $30.29 billion it opened the month under review. The $30.8 billion foreign reserve…
August 10, 2017
Deficit To Rise From N2.35trn To N2.77trn In 2018 The Federal Government on Thursday has said it was targeting a budget sum of N7.9trn for 2018 as against N7.44trn budgeted for this year, expected to be sent to the National Assembly at the beginning of October this year. This was disclosed in Abuja by the Minister of…
July 28, 2017
The monetary policy committee of the Central Bank of Nigeria (CBN) has retained MPR at 14 percent and all other parameters at their current levels. The CBN Governor, Mr Godwin Emefiele, who addressed the press after the meeting on Tuesday, hinged the bank’s decision on the need to halt inflation while also supporting growth. The…
July 25, 2017
Acting President, Yemi Osinbajo, has said that ‘Nigeria is fast moving toward becoming one of the 15 largest economies in the world. Osinbajo who was received by the Zamfara State Governor, Adulaziz Yari made the statement on Tuesday at the palace of the Emir of Gusau, Alhaji Ibrahim Bello, as part of his one-day visit…
July 18, 2017
The Federal Executive Council (FEC) on Wednesday approved for release the sum of N2.7 trillion following the outcome of an exhaustive committee report that ascertained the level of Federal Government’s debt profile. A larger chunk of the fund would go into settling outstanding debts consisting of N740 billion pensions and promotional salary arrears (not discounted),…
July 13, 2017
The New Diplomat with Agency Report The Organisation of Petroleum Exporting Countries, OPEC, has said that world’s demand for its crude will slide next year. According to the Cartel on Wednesday, despite OPEC’s effort to curb the glut, shale producers and other non-OPEC producers will flood the market, leading to decrease in demand for crude…
July 12, 2017
By Akanimo Kufre The Federal Government has emphasized the need for effective collaboration with Civil Society Organizations (CSOs) in ensuring effective implementation of public policies, plans and budgets in Nigeria through involvement in advocacy, monitoring and evaluation. Acknowledging the potency of the CSOs in such roles at a Situation Room Dialogue on the 2017 Budget…
July 6, 2017
The first half of the year saw Nigeria’s external reserves peaked at $30.27 billion, indicating a rise by 16% from the January figure of $26.27 billion. Data from the website of the Central Bank of Nigeria (CBN) shows that nearly $6 billion was sold in the foreign exchange market during the period. The Director, Banking…
July 5, 2017
