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Economy

eNaira can increase Nigeria’s GDP by $29bn in 10 years —Buhari

Written by on 25 October 2021

The President, Major General Muhammadu Buhari (retd.), has said the Central Bank Digital Currency, eNaira, and its underlying blockchain technology can increase Nigeria’s Gross Domestic Product by $29 billion over the next 10 years. This is as he said the currency will help move many more people and businesses from the informal into the formal […]

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CBN unveils new financial instrument to boost local production

Written by on 25 October 2021

The Central Bank of Nigeria on Monday announced the introduction of a new financial instrument to be known as “The 100 for 100 Policy on Production and Productivity” to boost local production and productivity in various sectors of the economy. The CBN Governor, Godwin Emefiele, disclosed this in Abuja during the official launch of the […]

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CBN introduces eNaira app, merchant wallet

Written by on 25 October 2021

The eNaira was scheduled to be launched on October 1, 2021, but was moved due to a clog of activities billed for Nigeria’s 61st-anniversary celebrations. The Digital Currency has two applications – eNaira speed wallet and eNaira merchant wallet, which were launched on the Google Playstore and Apple Store on Monday. A statement on the […]

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98% of 1.1 million CCT beneficiaries women — Osinbajo

Written by on 22 October 2021

Vice President Yemi Osinbajo has said that the various intervention programmes of the Buhari administration since 2015 to date are designed and implemented to improve the health, education and socio-economic conditions of the Nigerian people, especially women, children, and youths. This is as he urged youths to get involved in politics; saying that, while they […]

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IMF says Nigeria’s economy will grow by 2.7% in 2022

Written by on 21 October 2021

The International Monetary Fund, IMF, has projected a 2.7 per economic growth for Nigeria in 2022 and 2.6 per cent growth for this year citing a recovery in non-oil sectors and the rising price of crude oil. The IMF also projected that the Sub-Saharan economy will grow by 3.8 per in 2022 and by 3.7 […]

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Price of kerosene falls 7.9%, diesel drops marginally

Written by on 21 October 2021

The average price paid by consumer for National Household Kerosene (NHK) fell to N400.01 per litre this week. This represents a 7.9 percent decline when compared to N434.39 per litre recorded in September ending of this year. Similarly, prices paid by consumers per litre of Automotive Gas Oil (diesel) fell by 0.16 per cent this […]

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Why price of cooking gas is rising — NPRA boss

Written by on 19 October 2021

Mr. Farouk Ahmed, the Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, NPRA, has attributed the rising cost of cooking gas to poor investment into the gas sector over the years. Ahmed said this, on Monday, during his inauguration as CEO of NPRA, where Mr. Gbenga Komolafe was also inaugurated as the […]

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