Economy

The meeting between the federal government and the organised labour over the recent hike in the pump price of petroleum and electricity tariff has been adjourned to Monday.

The Central Bank of Nigeria (CBN) has labeled the foreign exchange parallel market as tainted and a channel for bribery and corruption.

Contrary to widespread belief that the removal of subsidy on petrol by the Federal Government is responsible for its soaring prices, the subsidy has not been completely removed, Minister of State for Petroleum Resources, Timipre Sylva, said on Monday.

Nigeria’s Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Monday, said the country will exit recession by the first quarter of 2021.

Managing Director of Nigerian Railway Corporation (NRC), Mr. Fidet Okhiria, has said the Lagos-Ibadan standard gauge rail track will be test-run in the first week of December ahead of its inauguration.


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