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Okechukwu Nnodim, Abuja The Federal Government has disbursed another round of performance-based grants to states in the sum of N123.348bn ($324.6m...

The Nigerian Government has paid out N123.35bn performance-based grants to state government as part of its States Fiscal Transparency Accountability and Sustainability Programme for Results project of the World Bank. The Minister of Finance, Budget and National Planning, Zainab Ahmed, stated that the disbursement was carried out following the achievement of results by the states in the just concluded 2019 Annual Performance Assessment. A statement signed by the Director of Press and Public Relations at the Ministry of Finance, Budget and National Planning, Hassan Dodo, on Wednesday made this ...

A News Analysis by Folasade Akpan of the News Agency of Nigeria (NAN) With the National Bureau of Statistics’ (NBS) report on the contraction of the nation’s Gross Domestic Product (GDP) by 3.6 per cent in the third quarter of the year (Q3 2020), it was official that Nigeria had slipped into recession for the second time in five years. According to the NBS, cumulatively, the economy contracted by -2.48 per cent, representing an improvement of 2.48 per cent over the –6.10 per cent growth rate recorded in the preceding quarter (Q2 2020). It also indicated that two consecutive quarters of ...

Tackling Nigeria’s recession challenges head on in spite COVID-19 On A News Analysis by Folasade Akpan of the News Agency of Nigeria (NAN) With the National Bureau of Statistics’ (NBS) report on the contraction of the nation’s Gross Domestic Product (GDP) by 3.6 per cent in the third quarter of the year (Q3 2020), it was official that Nigeria had slipped into recession for the second time in five years. According to the NBS, cumulatively, the economy contracted by -2.48 per cent, representing an improvement of 2.48 per cent over the –6.10 per cent growth rate recorded in the precedin...

Views: Visits 15 The World Bank Group has approved a 1.5 billion dollars package to help build a resilient recovery post-COVID-19 in Nigeria. This is according to a statement issued by the group on Tuesday in Washington D.C. It added that the group also discussed a new five-year Country Partnership Framework (CPF) from 2021 to 2024. It said that Nigeria was at a critical juncture and with the sharp fall in oil prices as a result of COVID-19, the economy was projected to contract by over 4 per cent in 2020. This, it said, would plunge the country into its deepest recession since the 1...