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The Petroleum Products Pricing Regulatory Agency on Sunday insisted that it would continue fixing price bands for petrol despite opposition by oil marketers to the move. It also declared that a regulation for Premium Motor Spirit, popularly called petrol, had been established in collaboration with the Federal Ministry of Petroleum Resources and the Office of […]

The private sector Coalition against COVID-19 has raised about N29bn in its fight against the coronavirus pandemic. The Central Bank Governor, Godwin Emefiele, disclosed this during the commissioning of Lagos State Isolation Center at Yaba, on Sunday. He said, “I will like to commend the Nigerian private sector who have come together under the Coalition […]

A combination of collapse in oil prices and the COVID-19 pandemic is expected to plunge the country’s economy into a severe recession, the worst since the 1980s, according to the latest World Bank Nigeria Development Update. The World Bank in statement, titled “Nigeria In Times of COVID-19: Laying Foundations for a Strong Recovery,’’ estimated that […]

The International Monetary Fund (IMF) has downgraded Nigeria’s 2020 growth projection, saying the economy will shrink by 5.4 percent. The IMF had in April 2020 projected that the country’s economy would contract by 3.4 percent this year. They disclosed this in its overview of the World Economic Outlook for June, titled, ‘A crisis like no […]

Governor of the Central Bank, Godwin Emefiele, said the apex bank will not be deterred in their effort to steer the Nigerian economy away from the looming recession due to the global impact of the COVID-19 pandemic. The Bank’s Director, Corporate Communications Department, Isaac Okorafor made the declaration in Abuja in a chat with newsmen, […]

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