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Economy

FG set to establish satellite industrial centres

Towards fast tracking its plan on the diversification, the Federal Government is set to establish Satellite Industrial Centres across the six geo-political zone of the country. The establishment of these industrial centre, which will be anchor by the Nigeria Export Processing Zones Authority  (NEPZA ),  is expected to commenced immediately ...

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Adeosun engages G24 on Tax Revenue, Inclusive Growth, Budget transparency

.Calls for focus on non-oil revenue growth, tax compliance and budget  accountability to drive sustainable economic development   The Honourable Minister of Finance, Kemi Adeosun, met with fellow Finance Ministers at a meeting convened by the G24 Group to discuss strategies to drive non-oil revenue growth and achieve inclusive growth. ...

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Adeosun takes economic reform agenda to World Bank Spring Meetings

*Calls for greater African and international collaboration on illicit financial flows to drive accelerated revenue growth and improved government efficiency. The Honourable Minister of Finance, Kemi Adeosun, is in Washington DC this week, attending the World Bank and IMF Spring Meetings. The Minister is participating in a range of events ...

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Economy: We are Seeing Light at the End of the Tunnel, Says VP Osinbajo

Professor Yemi Osinbajo, Nigeria’s Vice President   *FG North-East Innovation Hub to be Based in Yola As the Federal Government begins to implement its innovation and technology initiatives with the establishment of hubs in each of the six geo-political zones, the Vice President Yemi Osinbajo, SAN, announced today that Yola, ...

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Nigeria: Inflation declines to 17.26% in March, says NBS

National Bureau of Statistics (NBS) on Thursday said Nigeria inflation declined to 17.26 percent in March, down from 17.78 percent in February, which was the first drop in 15 months. On a headline basis, the Consumer Price Index (CPI) which measures inflation increased by 17.26 percent (year- on-year) albeit at ...

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Elumelu lauds FG’s economic recovery plan

The Chairman of the United Bank for Africa Plc, Mr. Tony Elumelu, has strongly commended the Federal Government and the Central Bank of Nigeria (CBN) for their efforts in stimulating the Nigerian economy, and bringing to bear a coordinated policy response that will positively jumpstart the Nigerian economy. According to ...

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Inflation Rate to Drop Further to 16.52% – FSDH

We expect the March 2017 inflation rate (year-on-year) to drop to 16.52% from 17.78% recorded in the month of February 2017. This is premised on the slower increases in the food and non-food divisions than previous months coupled with the base effect of the higher prices in the CCPI in ...

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Nigeria ranks 161 in Global 2017 Index of Economic Freedom: Trade and Prosperity at Risk

The Heritage Foundation The latest rankings of trade freedom around the world, developed by The Heritage Foundation in the forthcoming 2017 Index of Economic Freedom, once again demonstrate that citizens of countries that embrace trade freedom are better off than those in countries that do not. The data continue to show a ...

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CLARIFIES ACTIONS TAKEN ON ALLEGED FRAUD IN YOUWIN PROGRAMME

  The attention of the management of the Federal Ministry of Finance has been drawn to a story in The Punch newspaper of Tuesday, March 28, 2017 entitled, “Probe Uncovers Massive Fraud in YouWin Programme.”   It will be recalled that the current administration inherited YouWin as an ongoing programme, which ...

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N500bn PARIS CLUB REFUND: THIS TIME WE MUST GET OUR ACTS RIGHT

The Trade Union Congress of Nigeria (TUC) on Monday has urged the Federal Government to tie the N500bn London-Paris Club refund about to bereleased to state governments to projects to avoid a repeat of what happened when the first tranche of N388 billion was released in December last year. The ...

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