Minister of Finance, Kemi Adeosun, has said that a total of N510.2 billion was shared among the federal, states and local governments as revenue realised in August, representing a N16.6 billion increase from that of July which was a total of N493.6 billion.
Statistics from Nigeria’s Debt Management Office, DMO, shows that the country’s debt profile stood at N16.29 trillion in June this year, indicating a N4.17 trillion increase from the N12.12 trillion it was in June 2015.
The Central Bank of Nigeria, CBN, has decided to retain benchmark interest rate at 14%, saying that monetary policies alone could not totally save the economy.
The Minister of Budget and Planning, Udo Udoma, and his Finance counterpart, Kemi Adeosun, on Friday explained the various strategies being adopted by the federal government to stabilise the country’s economy.
Chairman of the senate committee on the Federal Capital Territory, Dino Melaye, has asked President Muhammadu Buhari to shake up his cabinet, by getting rid of non-performing ministers.
Minister of Finance, Kemi Adeosun has called on the Islamic Development Bank, IDB, to support Nigeria in the rebuilding of the Northeast region which has been ravaged by terrorism.
