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FG To Borrow N4.89tn For 2022 Budget
To finance the deficit in the proposed N13.98 trillion 2022 budget, the Federal Government plans to borrow about N4.89 trillion from internal and external sources. The Minister of Finance, Budget and National Planning, Zainab Ahmed, made this known in Abuja on Monday at an interactive session organised by the House of Representatives’ Committee on Finance…
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South Africa, Namibia, Nigeria Top Global Unemployment Rates
According to a recent report published by Bloomberg, Nigeria has the third highest unemployment rate at 33.3 percent among a list of 82 countries. Nigeria comes behind South Africa which has the highest rate and Namibia. According to the report, South Africa’s unemployment rate rose to 34.4 percent in the second quarter from 32.6 percent.…
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‘Nigeria’s GDP To Grow By 2.6%’
Financial Derivatives Company Limited has said the Nigerian economy is expected to grow by 2.6 percent in the second quarter of 2021. Thai growth is up from 0.51 percent recorded in the first quarter. Analysts at Lagos-based FDC, led by an economic expert, Mr Bismarck Rewane, said the expansion of the GDP growth data coupled…
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Nigeria Flags-off Second Phase Vaccination Exercise
Nigeria has begun the second phase of its vaccination exercise against the Covid-19 virus. The exercise is coming at a time where the country has begun to record increasing cases of the virus in the last one month. Speaking at the flag-off ceremony held at the Federal Medical Centre (FMC), Jabi Abuja, the Secretary to…
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The Struggle For Covid-19 Vaccines In Uganda
Uganda’s struggle to access vaccines to reach its target of inoculating 22 million people seems to be at no immediate end as the world’s rich nations continue to hold onto vaccine doses. The country has only received some 2 million doses of AstraZeneca’s vaccine and 300,000 doses of the Chinese-developed Sinovac shot since inoculation began…
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Nigeria: Bandits Release 15 Abducted Bethel Baptist Students
Parents of 15 kidnapped Bethel Baptist Secondary Schools students have secured their release according to recent reports. School administrator Reverend John Hayab told Reuters news agency on Sunday that parents had raised and paid an undisclosed ransom to free the students, who were among more than 100 taken on July 5 from the Bethel Baptist High School…
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NPA Generates N163.5bn In 6 Months
Between January and June 2021, the revenue profile of the Nigerian Ports Authority has risen by about 54 percent. This is about N163.5 billion increase within six months. The authority’s General Manager of Finance, Emeka Ezugwu, said in Abuja at an interactive session on 2022-2024 Medium Term Expenditure Framework (MTEF) Ezugwu added that NPA’s revenue…
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CBN Incurs N379bn Debt On ABP
The Central bank of Nigeria has recorded a shortfall of N378.5 billion in loan repayment by beneficiaries under the Anchor Borrower’s programme in six years. The data obtained from the findings of the apex bank have shown that between November 2015– when the ABP scheme was introduced and November 2020, the CBN executed a total…
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IT Investments Drop By $53m In One Year
The investments in the information technology services sub-sector has dropped from $74.74 million at the end of 2019 to $21.68 million as of December 31, 2020. This is according to analysis of the capital importation data from the National Bureau of Statistics. This indicates a drop of $53.06 million or 70.99 percent in one year…
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20 Countries Benefited $2.69bn Guarantees From World Bank
The World Bank has disclosed that Nigeria and 19 other countries benefited from about $2.69bn guarantees between 2020 and 2021. The apex bank said that the guarantees were issued under the COVID-19 Fast Track Facility. The other countries are Albania, Argentina, Belarus, Bosnia & Herzegovina, Botswana, Chile, Eswatini, Georgia, Ghana, Kosovo, Lesotho, Moldova, Montenegro, Mozambique,…