Economy

Economy

Economics and Sociology

CBN recovered over N60 billion excess charges

The Central Bank of Nigeria, CBN, received over 13,000 complaints from the banking public, recovered over N60 billion excess charges and returned same to...

World Bank Approves $2.2bn Loan For Nigeria

The World Bank has approved $2.2bn loan for six projects to support Nigeria’s development priorities. According to PM News, the bank said on Wednesday that...

CCB probes CJN, NJC, Delta Judiciary, others over alleged child trafficking

The Code of Conduct Bureau, CCB, has commenced probe on the Chief Justice of Nigeria, CJN, the National Judicial Institute, the Delta State Judiciary...

NNPC, IOCs release $360 million for Ogoni cleanup

Of the $1 billion recommended for the cleanup of Ogoniland, the Nigerian National Petroleum Corporation (NNPC) and its joint venture (JV) partners – Shell...

IMF Slashes Nigeria GDP Outlook On Coronavirus Impact

“External vulnerabilities are increasing, reflecting a higher current account deficit and declining reserves that remain highly vulnerable to capital flow reversals,” the IMF’s Mission...

CBN Governor calls for self-sufficiency, tells states, FCT to establish factories

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has called on State governments and the Federal Capital Territory (FCT) to be self-sustaining...

Oil prices rally for a fourth day as virus fears ease

Oil gained for a fourth session, the longest rising streak this year, amid signs that the worst impacts of the coronavirus outbreak may be...

DPR hands over OML 98 to NPDC

The Department of Petroleum Resources (DPR) has officially handed over the Oil Mining Licence (OML) 98 to the Nigerian Petroleum Development Company, a subsidiary...

Nigeria’s N26trn debt will impede future economic growth – CBN’s MPC warns

MEMBERS of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) have called on the Federal Government to reduce recurrent expenditure...

Nigeria Eyes U.S.$92.84 Billion Palm Oil Market

By 2021, the global palm oil market worth is expected to hit 92.84 billion US dollars (N33 trillion), amounting to four times the nation’s...