Nigeria records GDP growth despite recession

23 May 2017

Though the Nigerian economy remains in its worst recession in 29 years, it has however recorded a gross domestic product (GDP) growth rate of -0.52 percent for the first quarter of 2017. 

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FG to institutionalise patronage of 'Made in Nigeria' goods

19 May 2017

The Minister of Information and Culture, Alhaji Lai Mohammed, has said the Federal Government is institutionalizing the patronage of locally-made products among its Ministries, Departments and... Read More...

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BREAKING: Senate discloses National Assembly budget, consideration proceeds

11 May 2017

The Senate is presently considering the details of the 2017 budget presented before it by the committee on appropriation. 

One of the major highpoint of the presentation is that the budget... Read More...

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Oil prices bounce back as Saudi cuts supply to Asia

11 May 2017

Reuters reports  that oil prices rose on Thursday, with benchmark Brent crude trading comfortably above $50 a barrel after a fall in U.S. inventories and a bigger-than-expected cut in Saudi... Read More...

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Exxon Mobil workers down tools over mass sacking

11 May 2017

Nigerian workers at U.S. oil major Exxon Mobil Corp have gone on strike in protest over the sacking of workers, oil labour union officials said on Thursday.

Nigerian labour unions have...

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CBN releases $81.2m to make up for dollar request

09 May 2017

Nigeria’s central bank said it released $81.2 mln for dollar requests on Monday in a continuing drive to improve liquidity.

In an emailed statement, the bank said it provided $44 million to... Read More...

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CBN lifts ban of forex for 'restricted' items

04 May 2017

Nigeria’s central bank has lifted a ban on currency allocation for importers bringing in goods worth up to $20,000 per quarter, it said in a circular on Thursday.

The bank in 2015 placed a...

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Government shutdown looms as senate suspends presentation of the 2017 budget

04 May 2017

The Senate, on Thursday, postponed the laying of report on the 2017 Appropriation Bill to Tuesday, raising concerns that the government may be shutting down if delay in passing the budget... Read More...

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CBN barres First Bank, 11 others from forex trading

03 May 2017

Central Bank of Nigeria has ordered 12 banks out of the forex market for going against regulations relating to small businesses.
CBN was forced into the decision in response to field reports... Read More...

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CBN offers $100m on th forward market to boost liquidity

02 May 2017

Nigeria’s central bank has been working to make the exchange rates for its currency converge on the official and black markets, its spokesman said, and plans to offer $100 million on the forward... Read More...

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