Financial Services Government 

Rising global oil prices “good omen for Nigeria” — Finance Minister

The Federal Government has described as a welcome development the rising price of crude oil in the global market, saying, “this is a good omen for Nigeria”. The Minister of Finance, Budget, and National Planning, Dr Zainab Ahmed, made this known on Thursday, February 25, in Abuja when she addressed State House correspondents on the state of the nation’s economy under the Buhari-led administration. According to her, gaining more revenue from the sale of crude will yield more revenue for the government as well as reduce the country’s rate of…

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Oil and Gas 

Rising global oil prices “good omen for Nigeria”

The Federal Government has described as a welcome development the rising price of crude oil in the global market, saying, “this is a good omen for Nigeria”. The Minister of Finance, Budget, and National Planning, Dr Zainab Ahmed, made this known on Thursday, February 25, in Abuja when she addressed State House correspondents on the state of the nation’s economy under the Buhari-led administration. According to her, gaining more revenue from the sale of crude will yield more revenue for the government as well as reduce the country’s rate of…

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Government 

Social media roasts Finance minister Bahati for paying UGX5000 for each vote to win NRM primary

When the country is feeling the pinch visited on it by Covid-19, and the country sinks further into debt, the Finance minister David Bahati had a ‘solution’ for the poor villagers in his constituency, Ndorwa West. On voting day last week, everyone who turned up, including children, to vote, received ugx5000. The result was resounding. Finance state minister David Bahati scored 90 per cent to regain his NRM party ticket to the finals in January next year. Despite warnings from President Museveni who condemned violence, intimidation and voter bribery, most…

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Government North America 

Canada’s current deficit level will be ‘unsustainable’ within 1 to 2 years: PBO – National

The federal government has no more than one or two years to rein in the hundreds of billions of dollars in deficits it is wracking up through coronavirus spending, or risk the debt being “unsustainable.” That’s according to parliamentary budget officer Yves Giroux, who spoke with The West Block‘s Mercedes Stephenson about the federal government’s spending ahead of a throne speech on Sept. 23, which Prime Minister Justin Trudeau has said will pitch “ambitious” new programs. “It’s without a doubt that we cannot afford deficits of over $300 billion for…

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Financial Services 

Egypt borrows $2bn ‘to finance state budget’

Egypt has signed its first $2 billion conventional and Islamic financing loan to support the local economy, the Egyptian Ministry of Finance announced yesterday. In an official statement, the ministry said that the loan aimed at “financing the state’s general budget and supporting the Egyptian economy, to contribute to maintain its strong path in the face of prevailing fluctuations in global markets.” The ministry said that the facility was raised to $1.5 billion to $2 billion due to an “increased demand for subscription.” “Despite the difficult challenges that the market…

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