Economy
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Senator Jimoh Ibrahim calls for food vouchers to address hunger in Nigeria
Senator Jimoh Ibrahim, representing Ondo South, has urged the Central Bank of Nigeria (CBN) and the Ministry of Finance to introduce food vouchers as a strategic measure to combat hunger and reduce poverty across the nation. Ibrahim presented his proposal during a news conference in Washington, D.C., attended by key officials, including Olayemi Cardoso, CBN governor, and Wale Edun, finance…
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IMF /W’Bank annual meetings: FG focuses on strengthen energy, trade sectors with Afreximbank
In a significant move to bolster Nigeria’s economic prospects, the Federal Government has expressed determination to collaborate with Afreximbank in strengthen the country’s energy and trade sectors. The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, held a key meeting with Afreximbank’s President, Benedict Oramah on the sidelines of the World Bank-IMF Annual Meetings in Washington…
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IMF commends Tinubu’s economic reforms
The International Monetary Fund (IMF) has applauded the economic reforms implemented by President Bola Tinubu’s administration. Director of the African department at the IMF, Abebe Selassie spoke during a press briefing in Washington DC., United States. Selassie said the IMF has consistently advocated for Nigeria’s investment in areas like infrastructure, health, and education. He said the government has taken steps…
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Direct subsidy removal savings to support vulnerable households, says IMF to FG
The International Monetary Fund (IMF) has asked the Nigerian government to direct the savings from petrol subsidy removal to support vulnerable households amid the country’s economic hardship. The director of the African department at the IMF, Abebe Aemro Selassie spoke during a press briefing in Washington DC. Aside from Nigeria’s business community, the IMF has been at the vanguard of…
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Food Security: Abiru distributes 1,200 fertilizers to Lagos East farmers
The Senator representing Lagos East Senatorial District, Sen. Tokunbo Abiru, on Thursday distributed over 1200 free Urea fertilizers to farmers across the senatorial district. This is coming two months after he distributed fertilizers provided by the administration of President Bola Ahmed Tinubu, to boost food production and security. In his remarks, the Senator, represented by his Media Aide, Mr. Enitan…
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FG plans to de-dollarise Nigerian economy, says Edun
The Federal Government is making key efforts to de-dollarise the economy amid plans to strengthen the local currency. The Minister of finance and coordinating minister of the economy, Wale Edun made this known Wednesday on the sidelines of the World Bank/IMF annual meetings in Washington DC. The event, tagged Global Investors’ Forum, had in attendance policy experts, market analysts, investors,…
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Senate vows to revive Ajaokuta Steel Company
The Chairman of the Senate ad-hoc committee investigating activities at Ajaokuta Steel Company Limited and the National Iron Ore Mining Company, Itakpe, both in Kogi State, has asserted that it is high time the “jinx” surrounding Ajaokuta Steel Company was broken. The committee, led by Senator Adeniyi Adegbonmire, made this statement on Wednesday during a meeting with the workers and…
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FCCPC blames grain hoaders for food inflation
The Federal Competition and Consumer Protection Commission (FCCPC) has identified hoarders of grains as a key factor driving food inflation in Nigeria. The Executive Vice Chairman/CEO of the FCCPC, Tunji Bello, made the assertion during a town hall meeting with key industry players in Kano, the Kano State capital on Wednesday. Speaking to a packed audience at the Afficent Centre,…
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IMF/W’Bank meetings: Edun to lead FG’s delegation, canvass support for Nigeria
As the world faces a host of intertwined challenges- from climate change, pandemics, fragility, geo-political tensions, to debt distress- leaders of fiscal and Monetary Authorities are gathered in Washington DC for the annual meeting to discuss the impact, speed, scale and efficiency of measures to arrest the situation. The 2024 Annual Meetings will take place in Washington, D.C. from Monday,…
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Lokpobiri challenge NUPRC to hike Nigeria’s crude oil output to 2.5mbpd
The minister of state for petroleum resources (oil), Heineken Lokpobiri has challenged Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to increase Nigeria’s crude output to 2.5 million barrels per day (bpd) in the short term Lokpobiri who spoke recently during the launch of the NUPRC 1 million bpd initiative, stated that the initiative aims to increase the current oil production capacity…
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