Dec 23, 2014/Bloomberg The tumbling oil prices that have slashed Nigeria’s revenue and roiled currency and stock markets in Africa’s biggest economy may have a silver lining: an excuse for the government to scrap fuel subsidies that cost as much as $7 billion a year. It’s an opportunity President Goodluck […]
World News
Nigeria’s Gross External Reserves Increased to $38.29 bn in Q3’14
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Gross external reserves at the end of the third quarter (Q3) of 2014 increased 2.5 percent to $38.29 billion compared with the level recorded in the Q2 period, according to the Central Bank of Nigeria’s (CBN’s) economic report Q3 2014 released on Tuesday. According to […]
IMF Approves Extension of Interest Waive for Low-Income Countries through End-2016
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Global lender, the International Monetary Fund (IMF) said on Tuesday its board has approved the extension of the exceptional -interest waiver on its concessional loans by two (2) years to end-December 2016. A statement by the IMF affirmed that its board initially endorsed temporary relief […]
