Tag: Finance Minister

‘Nigerians to pay less for transportation with CNG buses’ — Minister

Aminu Imam

The Minister of Finance and Co-ordinating Minister of the Economy, Wale Edun, has announced that the introduction of Compressed Natural Gas (CNG)-powered buses will lead to reduced transportation costs for Nigerians. This was made known by the Minister during a town hall meeting with the Ministry’s management and staff in Abuja.  The Director of Press and Public Relations at the Ministry, Stephen Kilebi, released this information yesterday. In his address, Minister Edun sought the cooperation and support of the Ministry’s staff to facilitate the fulfillment of the mandate entrusted to…

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$10bn forex inflow expected in weeks – Finance Minister

Aminu Imam

Minister of Finance and Coordinating Minister of the Economy Wale Edun, has disclosed that around $10 billion of forex inflows is expected within weeks rather than months. Edun stated this during a panel session at the ongoing Nigeria Economic Summit, where he answered questions about stabilising the foreign exchange market and enshrining liquidity in the market. According to him, “In addition, from the supply of foreign exchange through NNPC, increased production, reduced expenditure, from transactions such as forward sales from our discussions with sovereign wealth funds that are ready to invest…

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Nigeria expecting World Bank’s $1.5bn budget support loan, Edun confirms

Aminu Imam

Minister of Finance and Coordinating minister for the Economy, Wale Edun, at the weekend confirmed ongoing talks with the World Bank for a $1.5 billion concessionary loan to support budget funding and signaled that the money will likely come in soon. Edun, who confirmed the development during a press meeting on the sidelines of the annual meetings of the World Bank and International Monetary Fund (IMF) in Marrakech, Morocco, said the loan request will possibly be discussed as the Federal Executive Council (FEC) met yesterday. “On the talks with the…

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