Business

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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, […]

The World Bank has approved $750 million in International Development Association (IDA) credit for Nigeria’s Power Sector Recovery Operation (PSRO). The World Bank Board of Directors gave the approval “to improve the reliability of electricity supply, achieve financial and fiscal sustainability, and enhance accountability in the power sector in Nigeria.” According to the World Bank, […]

The Chadian government has formally requested Nigeria to connect her country to the national electricity grid. The Chadian Ambassador, Abakar Saleh Chachaimi, made the request during a visit to the Minister of Power, Saleh Mamman. The Ambassador stressed the historical and economic values of connecting his country to Nigeria’s electricity as a means of enhancing […]

The Governor of Lagos State, Babajide Sanwo-Olu, has said that the state is introducing measures to absorb the shocking effects of the COVID-19 pandemic on Micro, Small and Medium Enterprises in the state. These measures, which include an additional N5bn palliative, will ensure business sustainability and stimulate economic growth, Sanwo-Olu said. The governor made this […]


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