State governments will soon smile to the banks as the federal government has concluded plans to commence the final phase of the Paris Club debt refunds. Addressing journalists in Abuja on Thursday on the state of the economy, Minister of Finance Zainab Ahmed disclosed: “The total sum of N649.434 billion was verified by the Ministry […]Read More
The International Monetary Fund, has expressed worry over Nigeria’s ability to repay its foreign debt which had continued to rise. Though it said conditions were favourable for the country to continue to borrow, the IMF equally expressed worry over the capacity to repay. The Financial Counsellor and Director, Monetary and Capital Markets Department, IMF, Tobias […]Read More
Nigeria’s Gross Domestic Product (GDP) grew by 1.93% in 2018 compared to 0.82% recorded in 2017, representing an increase of 1.09% points. The National Bureau of Statistics (NBS) stated this in its Q4 full year 2018 released on Tuesday, February 12, 2019, in Abuja, the nation’s capital. According to the NBS, in the fourth quarter, […]Read More
Some economic experts have said the 2018 Ibrahim Index of African Governance (IIAG) has affirmed the prevailing unemployment and poor economies in Nigeria and a good number of other African nations amid the huge human and natural resources on the continent. Indeed, the report unveiled by the Mo Ibrahim Foundation, stated that despite strong Gross […]Read More
The Nigerian Bureau of Statistics (NBS) has reported that for the first time since Nigeria’s exit from recession, the Gross Domestic Product (GDP) has recorded growth. Driven by the non-oil sector, GDP which grew by 2.05 per cent in the second quarters of 2018 represented the strongest growth in non-oil GDP since fourth quarter of […]Read More
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