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President Muhammadu Buhari has presented a budget of U.S.$34 billion for next year to help the economy recover after it was battered by the Covid-19 pandemic. The government plans to plug the budget shortfall by borrowing from domestic and foreign markets. The president also said that the economy may relapse into a second recession in four years with significant negative consequences. In August, Nigeria’s economy witnessed it’s biggest decline in 10 years. The country last suffered a recession in 2016.

  • The country’s economy has declined due to a crash in oil prices as global fallout from Covid-19 hit output – and due to the slowdown in economic activity caused by a lockdown … Read more »

  • President Muhammadu Buhari has justified the government’s borrowing to finance infrastructure projects. However, some experts are calling on the government to consider other … Read more »

  • A 26 kilometre Itakpe-Ajaokuta-Warri rail line, a project 30 years in the making, has been launched by President Muhammadu Buhari in a virtual meeting at State House. The president … Read more »

President Muhammadu Buhari (file photo).