ASSETS & FINANCIALS

 The Federal Government is planning to borrow N105bn ($345m) in local currency — denominated bonds at an auction on October 12, the Debt Management Office has said. The DMO said on Tuesday that it would raise N35bn each from debt …

 The President of the ECOWAS Commission, Mr. Marcel de Souza, says the recession being experienced in Nigeria has a negative impact on the sub-region’s overall economic performance. De Souza said this while presenting the Community Status Report at the ongoing …

 The International Monetary Fund has cut its 2017 economic growth forecast for Nigeria. The Washington-based lender said in its World Economic Outlook Report on Tuesday that Nigeria’s economy would contract by 1.7 per cent this year and expand 0.6 per …

 President Muhammadu Buhari has said that between March and July 2016, a space of five months, the activities of militants in the Niger Delta region resulted to Nigeria’s transmission system experiencing up to 16 system collapses. Buhari stated that the …

 The Federal Government needs to coordinate its fiscal and monetary policies more closely, the President, African Development Bank, Mr. Akinwumi Adesina, has said. Adesina, who spoke during a panel discussion at the Financial Times Africa Summit in London on Monday, …

 An European Union official, Fillippo Amato, has advised the Federal Government to devalue the Naira as part of measures to tackle the economic recession. Amato, Counsellor, Head of Trade and Economics Section of EU, on Monday explained that recession could not …

 The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said the bank will pursue price stability as an anchor for economic growth as well as attract foreign investors as the country battles recession and rising inflation. …

 The Central Bank of Nigeria is planning to borrow N129.67bn ($403.01m) in short-dated Treasury bills at an auction on Wednesday. The CBN said it would raise N28bn in three-month paper, N33.49bn in six-month bills and N68.18bn in one-year bills. According …

 Nigeria should be worried about the percentage of its revenue that goes into servicing of debts rather than the size of the debts, the World Bank has said. The World Bank Lead Economist for Nigeria, Mr. Khwima Nthara, said this …

 The Federal Government, as part of its economic stimulus plan, is considering a reduction in the income tax rates payable by Small, Micro and Medium Enterprises in the country. The reduction in tax rates is part of the recommendations presented …

 The naira plunged further against the United States dollar to a new record low of 480 on Thursday, down from 472 it recorded on Wednesday. The currency had continued its two-week free fall on Monday, closing at 445 to the …

 The 2016 annual lecture of the Manufacturers Association of Nigeria which held on Thursday, focused on diversification of the economy as a key solution to the current economic recession.  In his keynote address, the Guest Speaker at the event and …

 President Muhammadu Buhari on Thursday said he would be reaching out to captains of industry from across the country in the coming months to assist him in implementing his administration’s agenda for the economy. Buhari said this in a keynote …

 The country is losing about $200bn as a result of its failure to pass the Petroleum Industry Bill as an enabling law for the oil and gas industry, the Nigeria Extractive Industries Transparency Initiative has said. NEITI, in its latest …

 The naira slumped to a new all-time low of 470 to the dollar on the parallel market on Wednesday, posting its biggest daily decline since the Central Bank of Nigeria adopted a flexible foreign exchange regime. The local currency stood …

 The Senate on Tuesday rejected the proposal by the National Executive Council to sell some of the country’s assets to shore up the foreign reserves as part of measures to bring the nation out of recession. The President of the …

 The African Development Bank is working on giving Nigeria loan facilities of $4.1bn between now and next year for critical sectors of the economy. The loans include $1bn at a concessionary interest rate of 1.2 per cent for Nigeria to …

 The Nigerian Communications Commission has written the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, demanding the transfer of the initial N50bn paid by MTN Nigeria Communications to the regulator’s account with the Central Bank of …

 The African Development Bank says it will increase its investment in Nigeria by $4.1 billion between 2016 and 2017 and raise it up to $10 billion by 2019. The Bank’s President, Dr Akinwumi Adesina, gave the indication while speaking with …

 The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, has solicited the support of National Assembly for budget initiatives to bring the economy out of recession. Udoma made the call when he delivered a keynote address at the …