Tag: Austerity measures

Austerity Measures: National Assembly Cuts Own Budget By 25%

By Chris Nomjov The Deputy Senate President, Ike Ekweremadu, said on Thursday that the National Assembly has reduced its overhead in the 2015 budget by 25 percent in response to the economic realities in the country. Ekweremadu said the action would also help to boost the capital expenditure quotient in[Read More…]

Tunde Leye: Austerity In WonderBags

On Thursday 20th, I heard over the news that because of the slide in oil price, we should be prepared for austerity measures. Over the weekend, I tracked as the CBN complained about the heavy dollar demand due to massive foreign investor selloff of Nigerian stocks was causing the Naira[Read More…]

Oil Price Fall: Nigerians To Pay More For Petrol In 2015

By DailyTrust The pump price of premium motor spirit otherwise known as petrol will rise from 2015 as the Federal Government has proposed a reduction in monies budgeted for subsidy payment in the coming year, according to Daily Trust findings. The government’s proposal is contained in the revised 2015-2017 Medium[Read More…]

Tunde Leye: Austerity, What Is Good For The People Is Good For The Government

I am one of those who have kept track of the oil prices as well as fall in global demand for our oil for a couple of months now. The reality has set in now. After a desperate battle to shore up the Naira, the CBN is finally left with[Read More…]