The Federal Government of Nigeria has clarified its stance on the removal of fuel subsidy, saying it had no plan to do so in the immediate future. The Minister of Finance, Mrs Zainab Ahmed, said this on Sunday at the briefing by the Nigerian delegation on the outcome of their meetings with investors and institutions […]
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The Federal Government says it will use revenue accrued in the Excess Crude Account (ECA) to improve the funding of the Nigeria Sovereign Investment Authority (NSIA). The Minister of Finance, Mrs Zainab Ahmed said this on Friday on the sidelines of the G-20 Finance Ministers and Central Bank Governor’s meeting at the IMF/World Bank meetings […]
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At a time when Europe’s relationship with Africa is high on foreign policy and developmental agendas and with the European Union beginning to deliver on its 2017 External Investment Plan, targeted at attracting investment and job creation in Africa, the Tony Elumelu Foundation brought together leading stakeholders in the development finance sector, at a case […]
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Speaking at a high-level dialogue in Washington D.C. on the sidelines of the World Bank-IMF Spring meetings, the President of the African Development Bank (http://www.AfDB.org), Akinwumi Adesina, said “It is time to turn around the declining investments of the U.S. in Africa. As the world’s private sector leader, the United States has a unique role to play in increasing investments […]
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The International Monetary Fund (IMF) has said Nigeria’s economy will expand a little faster than its earlier projection. In the World Economic Outlook report released on Tuesday at the ongoing spring meetings of the IMF and World Bank Group, the fund said Nigeria’s economy will grow by 2.1% in 2019, an increase of 0.1% points […]
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The World Bank has said that the Nigerian economy has been on the downward slide since 1995 and continued till 2018. This was stated in the World Bank’s latest report on the regional economy titled, ‘Africa’s Pulse’, released on the taxonomy of growth performance in sub-Saharan Africa, which focused on the macroeconomic and financial features […]
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Africa’s richest man, Aliko Dangote, has revealed that he withdrew $10 million just to have a look at it and convince himself that he is rich. Speaking at the Mo Ibrahim governance weekend, ongoing in Abidjan, Dangote said he knew he was rich on paper, but had to convince himself that he was indeed rich. […]
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Shell Petroleum Development Company (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) remitted $6.3 billion in 2018 to Nigerian government. The money which represented tax and production entitlement for the 2018 fiscal year and was paid to the Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS), Department of Petroleum Resources (DPR), […]
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The International Monetary Fund (IMF) has expressed its support for the planned of Value Added Tax (VAT) by the Federal Government of Nigeria. IMF urged the federal government to end fuel subsidies and create a credible timeline to recapitalise weak banks in the country. The IMF Executive Board 19 Article IV Consultation with Nigeria, said […]
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Today we have publicly launched the new Access Bank, one company, with 28,000 staff across 600 branches and 29 million customers worldwide. This follows legal completion of the merger on 19 March and the launch of our new brand today. The enlarged Access Bank will have a formidable commercial and retail banking business, providing significant […]
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