• Economic crisis: IMF suggests policy adjustment to boost trade in Nigeria, others

    Economic crisis: IMF suggests policy adjustment to boost trade in Nigeria, others

    Worried by economic crisis across many countries of the world, the International Monetary and Financial Committee (IMFC) of the International Monetary Fund (IMF) yesterday advised Nigeria and other countries hard-hit by persistent decline in their terms of trade to proceed with policy adjustment in order to correct the imbalance.

    The advice came just as the Finance Minister, Mrs. Kemi Adeosun, reassured Nigerians and the international community that Nigeria had a credible recovery plan to lift the economy out of recession.

    Reading a […]

  • APC, PDP senators close ranks over economic crisis

    APC, PDP senators close ranks over economic crisis

    For the first time in more than a year, All Progressives Congress (APC) senators and their Peoples Democratic Party(PDP) counterparts closed ranks to push back a receding economy.

    Separate meetings held by APC and PDP, agreed that members should forget their differences and discuss issues affecting Nigeria, the federal legislature and the fortune of their party.

    The meeting which was held at private residence of the president of the Senate, Dr. Abubakar Bukola Saraki, started at about 8pm last night, lasted for […]

  • Nigeria will conquer economic crisis – Saraki assures Nigerians

    Nigeria will conquer economic crisis – Saraki assures Nigerians

    The Senate President, Dr Bukola Saraki on Tuesday, assured Nigerians that economy recession in the country will soon be tackled through legislative support.

    Saraki, gave the assurance in Ilorin during an interaction with Journalists, while also affirming that Nigerians were really suffering.

    According to him, the major preoccupation of the Senate upon resumption on September 20, will be finding solutions to the recession.

    “We are going to have an exhaustive and comprehensive debate on fixing the country’s economy when we resume next week.

    “Already, all […]

  • Buhari not to blame for economic crisis – Jibrin tells Melaye

    Buhari not to blame for economic crisis – Jibrin tells Melaye

    Abdulmumin Jibrin, former house of representatives chairman on appropriations, says it is “unfair and wicked” to blame the bad state of the economy on President Muhammadu Buhari, who is just over a year in office.

    Jibrin was reacting to a comment credited to Dino Melaye, senator representing Kogi west, that he was afraid of being stoned by his constituents due to the “failure” of the Buhari administration.

    According to Jibrin, even a magician cannot not turn around the economy within a period […]

  • President sacks Finance Minister over economic crisis

    President sacks Finance Minister over economic crisis

    Angolan President Jose Eduardo dos Santos on Monday sacked his finance minister Armando Manuel, the presidency announced, as the country battles an economic crisis caused by sinking oil prices.

    No reason was given for the dismissal of the 44-year-old London-educated minister who has held the post for three years.

    He has been replaced by Augusto Archer de Sousa Mangueira, 53, who was chairman of the country’s Capital Markets Commission prior to the new appointment.

    The new minister takes over of struggling economy which […]

  • Economic crisis not Buhari’s fault, he needs time – Emir of Katsina

    Economic crisis not Buhari’s fault, he needs time – Emir of Katsina

    The Emir of Katsina, Dr. Abdul-Mummuni Kabir, has urged people to stop castigating President Muhammad Buhari over the economic challenges facing the country.

    Kabir made the call during inauguration of a book on family lineage of late chief Imam of Kano residing in Katsina, Muhammad Zaharaddeen, on Saturday in Katsina.

    “It has come to our knowledge that some disgruntled people are castigating President Buhari and blaming the economic problems of the country on him.

    “The President cannot solve the economic blunder committed in […]

  • Fix Nigeria’s economic crisis, PDP tells Buhari

    Fix Nigeria’s economic crisis, PDP tells Buhari

    The Peoples Democratic Party has called on President Muhammadu Buhari to evolve a means of arresting the slide in the country’s economy, adding that the generality of Nigerians are suffering.

    Reiterating its position on the need to restructure the country, the party said restructuring remained the only solution to the country’s challenges.

    This was contained in a communiqué issued at the end of a meeting held on Tuesday in Akure by the leaders of the PDP in the South-West.

    In the communiqué signed […]

  • Total subsidy removal, a solution to economic crisis – Expert

    Total subsidy removal, a solution to economic crisis – Expert

    An Economist, Prof. Hassan Oakhenan, has said complete removal of petrol subsidy could lead to sustainable solution to the crisis in the sector.

    Hassan said this on Friday in Awka. Hassan, who teaches at the University of Benin, said the policy could be of long term benefit to the economy if it was effectively and sincerely implemented.

    He said the Federal Government should harness and formalise the local refining technology spread across the Niger Delta instead of criminalising their activities.

    He said if […]