Tag Archives Economy

Ekiti Govt. Includes N550m Budget For drones Used To Fight Kidnapping, Banditry
Ekiti Govt. Includes N550m Budget For dr...

Ekiti Govt. Includes N550m Budget For drones Used To Fight Kidnapping, Band...

Ekiti State Government has said efforts are on to procure sophisticated drones as part of efforts to boost surveillance, expose criminal hideouts and combat insecurity. Commissioner for Budget and Economic Planning Mr. Femi Ajayi disclosed this at the weekend during the breakdown of the 2021... read more »

Algeria Crude Oil Output Slumped in 2020
Algeria Crude Oil Output Slumped in 2020

Algeria Crude Oil Output Slumped in 2020

Algeria’s oil revenue tumbled in 2020, worsening an economic crisis in the North African country which is highly dependent on crude income, according to data released by the Energy ministry on Sunday. The COVID-19 pandemic had taken a toll on oil prices, ravaging the economies of producer... read more »

Naira Suffers Further Slump, Exchanges for 473/$
Naira Suffers Further Slump, Exchanges f...

Naira Suffers Further Slump, Exchanges for 473/$

On Tuesday, 12 January 2020, the naira suffered depreciation at the parallel market and Investors and Exports window. Figures obtained from Bureau De Change operators showed that the naira exchanged to the dollar for 473/$ at the parallel market. Nigeria’s currency had enjoyed a reasonable growth... read more »

Diri Signs N329bn 2021 Appropriation Bill into Law
Diri Signs N329bn 2021 Appropriation Bil...

Diri Signs N329bn 2021 Appropriation Bill into Law

Bayelsa State Governor Douye Diri has signed the 2021 bill of N329.29 billion into law. The governor had on November 26 presented an estimate of N290.295 billion tagged, ‘Budget of Growth’ to the state House of Assembly. While assenting to the bill in Government House, Yenagoa, Diri said the... read more »

Governor Ikpeazu Signs 2021 Appropriation Bill
Governor Ikpeazu Signs 2021 Appropriatio...

Governor Ikpeazu Signs 2021 Appropriation Bill

Abia State Governor, Dr Okezie Ikpeazu, has signed the 2021 Appropriation Bill into law. The Bill which was passed by Abia State House of Assembly during the Tuesday plenary session of the House was presented to the Governor by the Clerk of the House, Sir John Pedro Irokansi in his Aba residence on... read more »

CBN Predicts Further Depreciation of the Naira in January

CBN Predicts Further Depreciation of the Naira in January 2021

The Central Bank of Nigeria has said that a survey conducted by its Statistics Department showed that the naira is projected to further depreciate in January next year. According to the... read more »

Diaspora Remittances: CBN Threatens Sanctions Against Paying Local Currency

Diaspora Remittances: CBN Threatens Sanctions Against Operators Paying Local Currency

The Central Bank of Nigeria has cautioned operators against paying recipients of diaspora remittances in the local currency rather than foreign currency. The apex bank threatened to strip... read more »

Poor Nigerians Expected to Reach 100 Million By 2022 – World Bank

Poor Nigerians Expected to Reach 100 Million By 2022 – World Bank

The World Bank has estimated that the number of poor Nigerians would rise from the current 90 million to about 100 million by 2022 due to the economic impact of the COVID-19 pandemic. The... read more »

Namibian Economy Expected to Experience Historic Dip – Central Bank

Namibian Economy Expected to Experience Historic Dip – Central Bank

The Bank of Namibia director of strategic communication, Emma Haiyambo has said that the Namibian economy is set to record the worse dip in recent history due to the ravaging effect of the... read more »

Recession: FG Rolls Out Economic Recovery Plan

Recession: FG Rolls Out Economic Recovery Plan

The Federal Government has disclosed some of the actions being undertaken to help the country recover from its current economic recession. The measures were revealed by Minister of Finance, Budget... read more »