Following the failure to remove the subsidy on petrol, the Federal Government has revised the 2012 budget proposal, of which it intends to spend N888.1 billion as subsidy on petrol and kerosene this year.   In the revised proposal, the government cut aggregate expenditure by N100.25 billion, to bring total […]

The Central Bank of Nigeria, CBN, Governor, Mallam Lamido Sanusi, yesterday, said the level of poverty in Nigeria will continue to rise unless there is a deliberate effort to create other sources of revenue. Speaking at the Murtala Mohammed annual memorial lecture in Lagos, in a paper entitled: “Banking Sector, […]

Nigeria’s central bank said it would auction treasury bills worth 149.65 billion naira ($944.88 million) at its bi-monthly debt auction next week, it said on Thursday.  The central bank said it would sell 49.65 billion naira in 91-day paper and 50 billion naira each in 182-day treasury bills and 364-day […]