Politics
General news on the economy and politics.
Buhari says there is no provision for fuel subsidy in revised 2020 budget
President Buhari has today reiterated the need to do away with fuel subsidy.
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FAAC: FG, States and Local Governments share N547 billion in June
The total sum of N547.3 was shared between the 3 tiers of government for May.
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Spain takes over from India as Nigeria’s top export destination
Spain got 14% (N310.7 billion) of the total export trade of Nigeria in Q2 2020.
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Nigeria’s total foreign trade drops to N6.24 trillion in Q2 2020, export plunges by 52%
Total import for the period stood at N4.02 trillion while total export was N2.22 trillion.
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WTO: Dangote endorses Ngozi Okonjo-Iweala
Okonjo-Iweala has secured the endorsement of Dangote in anticipation of the position of DG of the WTO.
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Buhari approves transfer of NIMC to Federal Ministry of Communications and Digital Economy
The approval for the transfer was based on the President’s consideration for the critical role of NIMC.
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ICPC moves against NDDC top management over corruption allegations, quizzes directors
Some of the directors of NDDC were interrogated at the Commission’s headquarters.
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FAAC disburses N606.2 billion in May, allocation drops by 22%
Meanwhile, a total of N3.33 trillion as being disbursed between January and May 2020.
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Nigeria might fall into recession – Budget Office
A back to back negative GDP growth per quarter would be Nigeria’s second recession since 2016.
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Nigeria received $1.29 billion capital inflows in Q2 2020, down by 78.6%
The United Kingdom emerged as the top source of capital investment to Nigeria in Q2 2020.
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