FG won't borrow again to develop Nigeria's economy says Finance Mnister Wale Edun

Nigeria's Minister of Finance and Co-ordinating Minister for the Economy Wale Edun says Nigeria will no longer borrow from local or international organizations following the removal of subsidy on petrol and the harmonization of the country's exchange rate.

The minister made this known at the end of the inuagural meeting of the Feederal Exeutive Council chaired by President Bola Tinubu on Monday. According to him the gains from the subisdy removal would be put back into various sectors of the economy aimed at boosting governments revenue as well as improving the business environment for local and foreign investmennts.

According to him government has been able to provide palliatives from the increased revenue from subsidy removal to cushion its effect on a short, medium and long term basis. He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the wood it has found itself overtime. This comes in as President Tinubu charged the ministerss to revamp the nations economy stating they must work hard to deliver the agenda of the administration to Nigerians.

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Tinubu Says No Plan To Increase Fuel Price

Nigeria's President Bola Tinubu says the Federal government has no plans to increase the pump price of petroleum in the country. This was made known to journalists at the Presidential villa by Spokesperson to the President Ajuri Ngelale while responding to the questions raised over the threat of nationwide strike by organized labour. According to him, “Mr. President and the industry stakeholders who have been widely consulted are convinced, based on information before them, that we can maintain current pricing without reversing our deregulation policy by swiftly cleaning up existing inefficiencies within the midstream and downstream Petroleum sector. This is why there is no increase in prices at this time.”

Tinubu's Government Takes Shape as President swears in New Ministers

Nigeria's President Bola Ahmed Tinubu as sworn in members of his cabinet that would help govern and develop various sectors and aspects of the nations economy. The swearing ceremony of the ministers which took place at the Presidential Villa in Abuja comes in three months after the inaugurationn of the Tinubu led administration. The inuaguration of the ministers comes three weeks after their screening by Nigeria's upper legiislative chamber the Senate. Present at the inauguration of the minsters were Vice-President Kashim Shettima, President of the Senate Godswill Akpabio, Speaker House of Representatives Tajudeen Abass Chief of Staff to the President Honourable Femi Gbajabiamila and Secretary to the Government of the FederationGeorge Akume. President Tinubu while addressing the ministers who hd taken their oaths of office congratulated tem foor their appointments which he said was based on merits of their quaifcatiions both in public and private lives and also charged the new...

ECOWAS military chiefs to meet in Ghana over Niger Coup

Defence chiefs of the Economic Community of West African states will this week meet in Ghana to review the ongoing situation in Niger following the military coup that saw the oster of Nigers President Mohammed Bazoum ousted from office. The meeting which was ealier scheduled to take place last Saturday was postponed and is now scheduled to hold on Thursay and Friday in Accra, Ghana this week. The meeting of the military chiefs is coming after leaders of the Economic Community of West African States (ECOWAS) had approved the deployment of a standby military force to restore democratic and constituional order in Niger last week. Ousted President Mohammed Bazoum is currently being held by the junta after being removed from office on July 26. Ecowas leaders had given the military one week to restore power to Bazoum which the coupists failed to comply with. There have been mixed signals between ECOWAS leaders and Nigers military who said they were open to diplomatic talks after a meeti...

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