Economy Archives - Page 64 of 71

Aug

30

2022

Nigeria to exceed debt limit in 2023 as FG seeks N11 Billion in new loans

Economy, Politics2023, Economy, Next Level, Nigeria, Politics, Zainab Ahmed

The Nigeria Minister of Finance and National Planning, Zainab Ahmed has said that the federal government will borrow more than N11 trillion and sell domestic assets to finance the budget deficit in 2023. She also said that the government’s budget deficit is expected to exceed N12.42 trillion if it maintains the oil subsidy throughout the 2023 fiscal cycle. Ms. Ahmed revealed this on Monday while appearing before the House Finance Committee to defend the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Explaining two budget deficit scenarios to the committee, the minister said the first option involves withholding…

Jul

09

2022

By Amos Oge Kalu

Fuel shortage paralyzes travel in Lagos

Economy, Metro, PoliticsEconomy, Metro, Next Level, Nigeria, NNPC

Many Lagos residents were stranded on Friday at various collection points as fuel shortages continue to hit harder. The Nigerian News Agency (NAN) reports that fuel shortages dragged on for a week, leaving commuters scrambling to board few available vehicles for travel, negatively impacting economic and social life. The situation is direr as the activities for the 2022 Eid-el-Kabir celebration are in full swing. For example, the long stretch from Iyana Oworo to the Lagos/Ibadan expressway and inland roads were partially blocked as few service stations were refueling the long queue of motorists. There is also the problem of an…

Jun

22

2022

By Amos Oge Kalu

Abia pensioners beg FG to intervene as two die Monday

Abia State, Economy, Metro, PoliticsAbia State, Economy, Metro, Nigeria, Okezie Ikpeazu, Politics

By Sunday Nwakanma Pensioners in Abia State, once again, took to the streets urging the Federal Government to prevail on the state government to save their lives. Led by their coordinator, Chukwuemeka Okezie, the pensioners who were in all-black attire, weeping and singing retributive songs, marched round the capital city to show their anger. Addressing newsmen, Okezie disclosed that Monday, June 19, two of their members died “out of starvation by not being able to buy drugs”, adding that recently, “the state started paying over three months, but a half pension.” He said since 2014, “total number of unpaid monthly pension…

Jun

19

2022

By Amos Oge Kalu

Opinion: Peter Obi can generate $60Bn with 1 Million Computers annually – Donseth.

Economy, Politics2023, Economy, Metro, Next Level, Nigeria, Opinion, Peter Obi, Politics

Peter Obi doesn't need to enlist 50 million Nigerian youths into the army where they will eat Agbado, Cassava and Yam. With just 1 million computers in the hands of Nigerian tech enthusiasts, Peter Obi can generate nothing less than 50- 60 billion dollars yearly, that's roughly 27 trillion Naira into the Nigerian economy (Using the 400 Naira benchmark). Meanwhile, how much is the Nigerian budget for 2022?The 2022 budget has a deficit of about N6.25tn, approximately 3.39% of GDP. All over the world, businesses are looking for cheap labour and with the aid of technology, Nigeria can comfortably become…

May

20

2022

By Amos Oge Kalu

Negotiations Ongoing To Release Victims Of Abuja-Kaduna Train Attack – Presidency

Metro, PoliticsBandits, Boko Haram, Crime, Economy, Metro, Next Level, Nigeria, Opinion, Politics

Special Assistant to President Muahmmadu Buhari on Media, Garba Shehu, has said that negotiations are ongoing to ensure the release of the victims of the Abuja-Kaduna train attack. Nine were said to have been killed, over 20 others sustained injuries from gunshots, and many passengers were abducted when bandits attacked an Abuja-Kaduna train in March. Shehu disclosed this during an interview on Channels TV’s Politics Today on Friday. He said, “We’re aware that there has been resistance from the family members of those who have been taken captive. Of course, this is expected. This acts as pressure on one of…