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Breaking News | Economists Evaluate Nigeria-China Currency Swap

Buhari s govt struggles with oil industry promises 5 years after

These promises were collated from the APC policy document and manifesto, Buhari’s 100 days covenant, speeches at campaign rallies and town hall meetings nationwide in a runoff to the 2015 election. Addressing the challenges formed the bedrock of a road map for the industry called the “7 Big Wins” which was launched by the president in October 2016. The campaigns then were based on the ‘Change’ mantra. However, even on the ‘Next Level’ agenda which is already more than one year, the administration is still grappling to fulfill these promises. The 7 Big Wins are Policy & Regulation, Business Environment & Investment Drive, Gas Revolution, Refineries and Local Production Capacity, Niger Delta & Security, Transparency & Efficiency, and Stakeholder Management and International Coordination.

Only fiscal and investment policy and more of government spending will get Nigeria out of deep recession, Economist say

By Lydia Ngwakwe Lagos, Jan. 27, 2021 Some economists on Wednesday in Lagos, commended the Monetary Policy Committee (MPC) of the Central Bank of Nigeria for leaving all Monetary Policy Rates (MPR) unchanged. The experts who gave the commendations in separate interviews with Naija247news said the committee took an ‘excellent resolution’ by leaving key parameters unchanged. The committee had on Jan. 26 decided by a unanimous vote to retain the MPR at 11.5 per cent; the asymmetric corridor of +100/-700 basis points around the MPR; the CRR at 27.5 per cent; and the Liquidity Ratio at 30 per cent. MPR is the interest rate at which CBN lends to the commercial banks, the benchmark against which other lending rates in the economy are pegged, and used as instrument to moderate inflation in the economy.

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