Tag: International Monetary Fund

Although Nigeria, Is Going Through Its Worst Economic Crisis, Finance Minister Says No Need For IMF Assistance

Although Nigeria, is going through its worst economic crisis in years, it has not turned to the International Monetary Fund (IMF) for financial assistance because it is “not sick”. Finance minister, Kemi Adeosun said this in Washington D.C, thrashing reports linking the country,with others such as Angola, Ghana, seeking IMF[Read More…]

Nigeria’s GDP Will Fall To New Low In 2016 According To The International Monetary Fund

The international monetary fund (IMF) says Nigeria’s gross domestic product (GDP) would be worse in 2016 than it was in 2015, despite plunging to a record low in 2015. The executive board of the IMF said it had concluded the article IV consultation with Nigeria, and projected a GDP growth[Read More…]

Despite Being Presented To Nass, Buhari’s 2016 Budget Is Subjected To Scrutiny And Amendments By IMF

The 2016 Appropriation Bill may be subjected to further scrutiny and amendments by the International Monetary Fund, IMF, despite being already presented to the National Assembly for legislative action. Managing Director of IMF, Ms Christine Lagarde, who is visiting Nigeria, told newsmen in Abuja, yesterday, that the multilateral financial institution[Read More…]

“He’s Fronting For IMF” – NLC Slams Sanusi For Advocating For Subsidy Removal

The Nigerian Labour Congress on Wednesday warned Emir Muhammadu Sanusi of Kano state to avoid turning traditional institution into the mouthpiece of the International Monetary Fund, IMF. The NLC also asked Nigerians to ignore Sanusi’s call for devaluation of the naira, which had been suffering against the dollar since it[Read More…]

IMF Advices Nigeria To Remove All Forms Of Fuel Subsidy

The International Monetary Fund (IMF) on Friday stated that the current drop in oil prices offers a unique opportunity for Nigeria and seven other oil-producing countries in Africa to implement politically difficult oil subsidy reforms. IMF’s Director for African Development, Antoinette Sayeh who made the submissions at a press conference[Read More…]

Nigerian Foreign Exchange Reserves Down By $3bn In One Month

by Chukwu Obi External reserves otherwise known as foreign exchange reserves fell by $3.07 billion as of March 4 signifying 9.04 per cent drop compared to a month earlier, data from the Central Bank of Nigeria showed yesterday. The reserves dropped to $30.87 billion by March 4, from $33.94 billion[Read More…]

This African Country Is Auctioning Its Oil Blocks As Oil Crisis Continue To Hit Hard

by Chukwu Obi Angolan state-owned oil company, Sonangol, has placed 15 of its oil blocks up for auctioning as the southern Africa nation struggles with drop in global oil prices, learned VENTURES AFRICA. “Angola’s national oil company Sonangol will this year auction off 15 new oil and gas concession in[Read More…]

IMF Warns Nigeria Against Low Fiscal Buffers, Lowers 2015 Growth Projections To 5%

The International Monetary Fund (IMF) has said that Nigeria remained vulnerable to oil price volatility and global financial developments, despite assurance from the Federal Government that it has put measures in place to reduce the effect of fall in crude oil prices on the economy. The IMF which admitted that[Read More…]

Opinion: Underdeveloped Country Vs Underdeveloped Minds

According to Cambridge online dictionary, an underdeveloped country is a country that is less developed economically than most others, with little industry and little money spent on education, health care, etc. And according to the International Monetary Fund’s World Economic Outlook Report, April 2014 and World Bank data, Nigeria is[Read More…]