nigeria

IMF Cautions Nigeria, Others Over Mounting Debt To China

IMF Cautions Nigeria, Others Over Mounting Debt To China

October 17, 2019 4:00 am

The International Monetary Fund (IMF) has cautioned Nigeria and other African countries against their rising level of indebtedness to China, stressing that the non-Paris Club creditors, “create some instability or some vulnerabilities.”

It also said the present global financial conditions due to the trade dispute between the United States and China, the shift towards a more dovish monetary policy stance in most developed countries, among others, present opportunities for Nigeria and other low-income countries.

The Financial Counsellor and Director, Monetary and Capital Market Department, IMF, Tobias Adrian, said this while responding to a question during a media briefing on the …

New Oil Contract Law To Fetch Nigeria $1.5b, Says Lawan

New Oil Contract Law To Fetch Nigeria $1.5b, Says Lawan

October 16, 2019 9:25 am

Senate President Ahmed Lawan yesterday said that the passed Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Bill 2019 would make Nigeria $1.5 billion richer by 2020. He assured foreign oil firms and others operating in the country that the law was not meant to discourage investments.

Lawan spoke after the upper chamber legislative amended and sanctioned the piece of legislation, noting: “When we do legislation in the National Assembly, we are always mindful of the need to have a competitive environment just like we have done in this one, and when we work on the PIB maybe from …

Anya, Kolade Doubt The Capacity Of APC, PDP To Fix Nigeria

Anya, Kolade Doubt The Capacity Of APC, PDP To Fix Nigeria

October 16, 2019 3:43 am
  • Tinubu challenges citizens to claim their destiny

Former Chief Executive Officer of the Nigeria Economic Summit Group (NESG), Professor Anya O. Anya believes that the country’s problems have gone beyond what the present political elite, including the ruling All Progressives Congress (APC) and opposition Peoples Democratic Party (PDP) can address.

Anya, who was the guest speaker at The Niche Newspaper’s Annual Lecture themed ‘Business and Accountable Governance: The Obligation of Leadership’ in Lagos, wondered where the country could begin to resolve its numerous problems, which seem insurmountable.

“Where can we begin? We must start from the recognition that the current …

Nigeria Has Borrowed More Money In The Last Three Years

Nigeria Has Borrowed More Money In The Last Three Years

October 16, 2019 3:32 am

• Economy, population growing at different directions

At current debt levels of over ₦25 trillion, it means that Nigeria has borrowed in three years more than it borrowed in 30 years previously, and the country to remain peaceful and get the economy working better, it must return to the basics of federalism, as the foundation of her national enterprise.

A former Chief Executive Officer, Nigeria Economic Summit Group (NESG), Prof. Anya O. Anya, who stated this, noted that the political challenge is how to operationalise Chapter II of the Constitution, as the fundamental objectives and directive principles of state …

IMF Foresees ‘Lacklustre’ GDP Growth For Nigeria In 2019

IMF Foresees ‘Lacklustre’ GDP Growth For Nigeria In 2019

October 15, 2019 2:52 pm

The International Monetary Fund (IMF) has projected that Nigeria’s Gross Domestic Product (GDP) growth will remain lacklustre in 2019.

The fund stated this in its World Economic Outlook (WEO) for October 2019, released on the sidelines of the ongoing IMF/World Bank Annual Meetings in Washington DC.

GDP growth in Nigeria stood at 1.94 percent as of the second quarter of 2019.

“Growth in low-income developing countries remains robust, though growth performance is more heterogeneous within this group. Robust growth is expected for non-commodity exporters, such as Vietnam and Bangladesh, while the performance of commodity exporters, such as Nigeria, is …

Uber Begins The Pilot Phase Of Its Boat Service In Nigeria

Uber Begins The Pilot Phase Of Its Boat Service In Nigeria

October 15, 2019 11:21 am

As part of its expansion plans into Africa, global ride-hailing firm Uber Technologies launched a pilot test of their taxi boat service on Friday in Lagos, Nigeria’s commercial hub.

To attract customers who want to avoid the city’s frequently congested roads, Uber will operate a two-week pilot phase of the boat service in conjunction with the Lagos State Water Authority (LASWA) and local boat operators, Texas Connection Ferries.
“We are aware of the man-hours and productivity that are lost every day due to vehicular traffic in Lagos state and are looking at ways to provide commuters with an easy
…
Travelstart Launches Cabo Verde Airlines to Nigeria Market

Travelstart Launches Cabo Verde Airlines to Nigeria Market

October 14, 2019 3:03 pm

A new airline, Cabo Verde Airlines, is set to arrive on the tarmac of Nigeria. The airline, which is the national carrier of Cape Verde, will fly from Praia and land in Lagos as from December 10, 2019.

Cape Verde is a visa-free destination but had previously proven difficult for Nigerians to fly too. A four-hour distance from Lagos, flight times before the entrant of the new airline, could be as long as 20+ hours.

A statement by Travelstart Nigeria quoted its Country Manager, Philip Akesson, as saying: “We are so excited to facilitate the launch of the Airlines …

Niger Republic bans rice exportation to Nigeria

Niger Republic bans rice exportation to Nigeria

October 14, 2019 11:07 am

The Republic of Niger has banned the exportation of rice to Nigeria in any form, the comptroller-general of Nigeria Customs Service Hameed Ali said on Monday.

Ali while speaking to journalists in Abuja said the Niger Republic took the decision because Nigeria had closed its borders.

“Goods that are on the prohibition list in Nigeria, such as rice, used clothes, poultry products and vegetable oil should not be exported to the country,” Ali said.

“As a result of this border closure, Niger Republic has already circulated an order banning the exportation of rice in any form to Nigeria.”

Nigeria had …

Brazil, Nigeria Clash Again As Eaglets Tackle Sao Paulo FC

Brazil, Nigeria Clash Again As Eaglets Tackle Sao Paulo FC

October 14, 2019 2:21 am

Another Brazil – Nigeria clash comes quickly as five-time world champions, Golden Eaglets of Nigeria tackle Sao Paulo FC in a friendly game today. It is part of their preparations for this year’s FIFA U17 World Cup finals starting in Brazil on October 26.

Having settled down in the city of Sao Paulo and gradually adapting to the high altitude weather, the Nigerian side will file out against Sao Paulo FC’s U17 team at the Saropoca Sports Complex at 3.00 p.m. local time, which is 7.00 p.m. Nigerian time.

READ ALSO: 15-Year-Old Coco Gauff Becomes Youngest To Win WTA Title…

My Fear Over Igbo Presidency In Nigeria - Achike Udenwa

My Fear Over Igbo Presidency In Nigeria – Achike Udenwa

October 14, 2019 2:04 am

Former Imo State governor, Chief Achike Udenwa has said that a restructured Nigeria will benefit the Igbo more than the Presidency. In this interview, he said among others that having a president of Igbo extraction in the present day Nigeria would not help people of the South East or even the nation at large.

Nigeria recently celebrated her 59th Independence anniversary which, many feel, has become a mere ritual considering the challenges facing the nation. Some people believe that Nigeria is retrogressing and has no reason to celebrate that date, do you agree?

If anybody looks at where we …

Neymar Limps Off As Brazil - Nigeria Match Ends In Draw

Neymar Limps Off As Brazil – Nigeria Match Ends In Draw

October 13, 2019 12:09 pm

The return of Neymar to Champions League action may be delayed after the Paris Saint-Germain forward limped off after just 12 minutes of Brazil’s friendly against Nigeria on Sunday.

The 27-year-old, who played the full 90 minutes against Senegal on Thursday, clutched his hamstring after eight minutes and was replaced by Philippe Coutinho shortly after.

Neymar, who was playing his 101st international, is now a doubt for PSG’s Champions League meeting with Club Brugge on October 22. He has missed the first two rounds because of a UEFA suspension.

He was injured while on national duty back in June when …

Why I left Nigeria For Two Months – Aisha Buhari

Why I left Nigeria For Two Months – First Lady Aisha

October 13, 2019 3:50 am

Aisha Buhari, the wife of Nigerian President has denied there was any rancour between her and President Muhammadu Buhari, which forced her to stay away from the country for an unusually extended period.

Mrs. Aisha told the government-owned Nigerian Television Authority shortly after she returned to Abuja around 5 am on Sunday morning that she was in the United Kingdom to be with her children.

READ ALSO: Rohr, Super Eagle’s Coach Denies Plan To Resign

She said she also saw her doctors while she was there, adding that she has always travelled out for vacation for six weeks every year. …

TRENDING

Breaking

𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

follow on social media

Facebook Twitter Youtube Telegram Linkedin

subscribe to newsletter

© 2018 - 2020 Africa digital news, New York
Powered by

People and Polity