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DStv subscriptions: Too expensive or are Nigerians too poor?
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World Bank faults Nigeria s forex management system
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Amarachi Orjiude and Sami Olatunji, Abuja
Published 16 June 2021
Amarachi Orjiude and Sami Olatunji, Abuja
Published 16 June 2021
While the Governor of Ekiti State, Kayode Fayemi, said on Tuesday that the removal of fuel subsidy will benefit poor Nigerians, financial experts argued that it would bring about increased hardships.
Fayemi, while addressing journalists after the launch of the Nigerian Development Update by the World Bank in Abuja, said there was a need for proper communication on the economic status of the country.
“Nigeria is not this boundlessly rich country. We are wealthy in several other respects. Our human capital is a source of strength. But in terms of this naira and kobo, we are not a rich country, and we need to do more to communicate that to the population in our country,” he said.
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Amarachi Orjiude and Sami Olatunji
Published 16 June 2021
Published 16 June 2021
The Director General of the Budget Office of the Federation, Ben Akabueze, on Tuesday said cutting budget allocations to Federal Government agencies would not have a significant impact on Nigeria’s revenue.
Akabueze said this in Abuja at the launch of the Nigerian Development Update by the World Bank.
According to him, allocations to the legislature account for less than one per cent of the total budget for the year and as such, reductions won’t solve revenue problems.
He said, “When people say drop cost, look at the cost profile of the Federal Government for instance, what do you want to drop?
CBN interventions helped Nigeria Prevent Severe Credit Crunch in the private sector – World Bank
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