Yushau A. Shuaib: [News Update] Lawmakers Pass 2016 Budget, FG Mulls VAT Increase, Interest Goes Up

Latest Economic Reports

Latest economic reports in the Economic Confidential, the factual, authoritative and accessible economic magazine.

Finally,! Senate Passes 2016 Budget

After months of delay, Nigeria's Senate has finally passed the 2016 Federal budget. President Muhammadu Buhari presented a N6.08 trillion proposals in December 2015. The Senate passed N6,060,677,358,227 trillion budget after considering its conference report on the budget. Read: http://econ.ng/21H95dX

NCS Bans Rice Importation through landborders across Nigeria

Nigeria Customs Service has re-introduced the restriction order on importation of rice through land borders across the country. Read: http://econ.ng/1ShCEjR

500 Customs officers to be sacked

The Nigerian Customs Service (NCS) is set to lay off about 200 newly recruited officers who were enlisted into the Service not up to a year ago and have already been posted to various commands. This is even as findings further revealed that... Read: http://econ.ng/1LGUm16

Power crisis not laughing matter, says Buhari

President Muhammadu Buhari has admitted that the poor power situation in the country was no laughing matter. He, however, pledged his administration's readiness to tackle the situation within the remaining three years available to him to be in the saddle. Read: http://econ.ng/1o6ykZX

Kano Emir Warns Nigerians Against Buying Foreign Goods

Emir of Kano, Alhaji Muhammad Sanusi on Saturday urged Nigerians to stop patronizing foreign goods in order to safeguard Nigerias economy. Read: http://econ.ng/1UGbKFN

NDIC Rewards Best Students in Deposit Insurance

The Nigeria Deposit Insurance Corporation (NDIC) has presented prize awards to three deserving students of Ahmadu Bello University (ABU), Zaria for their outstanding performance in "Fundamentals of Deposit Insurance" course recently introduced into the university. Read: http://econ.ng/1Ry79yP

FG, 36 states Agree 71 Ways of Rescuing Nigeria's Troubled Economy

The two-day retreat of the National Economic Council (NEC) ended in Abuja with federal authorities and the country's 36 states agreeing on at least 71 proposals they believe will reinvigorate Nigeria's wobbling economy. made on survival of the states and on how to invest in the Nigerian people. Read: http://econ.ng/1ZsKMRt

CBN Tightens Liquidity, Raises MPR to 12%, CRR to 22.5%

• Emefiele: No intention to convert domiciliary accounts to naira, promises improved forex supply

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) resolved to raise the Monetary Policy Rate (MPR) otherwise known as the interest rate, to 12% from 11%. For more decisions Read: http://econ.ng/1RkvTNX

FG injects N350b into economy, mulls VAT increment

The federal government has said that it will inject N350 billion budgeted expenditure to revamp the Nigerian economy in the next few months. The government also breaks its silence over the proposed increase of value added tax (VAT) on goods and services. Read: http://econ.ng/1UGccDW

Nigeria to Disclose Amount Recovered from Looters Soon

The Accountant General of the Federation, Ahmed Idris, asked Nigerians to exercise more patience in their quest to know the amount of money the federal government had so far recovered from treasury looters. But he gives a clue. Read: http://econ.ng/1pIdcen

Unity Bank Takes Financial Inclusion To Supreme Foundation

To commemorate the 2016 Financial Literacy Week, Unity Bank Plc, took its financial literacy campaign to Supreme Model Foundation, Lagos. Read: http://econ.ng/1UGcDOt

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