Emefiele Foresees Single-digit Inflation by June 2018 CBN injects $286m into forex market
Obinna Chima with agency report Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele yesterday projected that inflation rates in the country would fall at a faster pace and
hit high single-digit rates by mid-next year. “We are very optimistic that food prices will come down, and as they come down, it will help to complement the reduction in core inflation,” Reuters quoted Emefiele to have told journalists on the
Fitch says high Treasury Bill yields helping banks to maintain margins
sidelines of the launch of the Afrinvest 2017 Banking Sector Report at the London Stock Exchange, adding he expected a “more aggressive moderation.” “We are hoping that by the middle of next year, we should begin to approach the high single digits,” he said. Around
nine per cent would be a good target,” he said. Annual inflation in Nigeria slowed for an eighth month in September, easing to 15.98 per cent. Nigeria, which has Africa’s largest economy, emerged from its first recession in 25 years
in the second quarter as oil revenues rose. But the slow pace of growth suggests the recovery remains fragile. However, the central bank held interest rates at 14 per cent in September to keep liquidity tight, saying it felt
that loosening would worsen inflation and drive bond yields negative which could lead to capital flight and hurt the currency. Emefiele said as the economy began to hit thresholds on Continued on page 10
EU Supports Nigeria’s Immunisation Programme with N3.8b ...Page 62
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Presidency: President Ready to Present 2018 Budget Next Week
Iyobosa Uwugiaren in Abuja
The Presidency said yesterday that President Muhammadu Buhari was fully ready to present the 2018 Appropriation Bill to the National Assembly,
adding that he was only waiting for the legislative arm of government to give him a date for the presentation. The Senior Special Assistant to the President (National Assembly Matters), Ita Enang,
told THISDAY that the process for the presentation of the budget by the president had started, adding that before that is done, the President would have to send a communication to the legislators and have a
dinner or breakfast with the leadership of the National Assembly. Enang said that President Buhari might likely present the budget next week after consultations with the
leadership of the two chambers of the National Assembly. However, one of the principal officials of the National Assembly told THISDAY that although the Federal Executive Council had approved the 2018
Budget proposal submitted by the Budget and National Planning Ministry on Thursday, the proposal might not be submitted to the National Assembly until next week Continued on page 10
Buhari's Administration Has Derailed, Needs to Get Back on Track, Says Hameed Ali Everyday, when you wake up, there is a story that makes you shiver that we have been infused by people who were not part of this journey
I must confess here
Onyebuchi Ezigbo and Adedayo Akinwale in Abuja and Victor Ogunje in Ado Ekiti The Comptroller General of the Customs and Exercise, Col. Hameed Ali (rtd) yesterday lamented that the President Muhammadu Buhari-led administration was increasingly losing grounds due to the infusion of people who did not share in the vision or took part in the journey to get the government into power. Also yesterday, a coalition of Civil Society Organisations warned that the case of the former Chairman, Presidential Committee on Pension Reform Taskforce Team (PPRT), Abdulrasheed Maina, would Continued on page 10
Dickson Presses FG for Agge Deep Seaport, Airport, GOVERNORS' COURTESY VISIT… Coastal Railway in President Muhammadu Buhari with L-R: Kaduna State Governor, Nasir El-Rufai, Nasarawa State Governor, Umaru Tanko Al-Makura, Kano State Governor, Umar Ganduje, Yobe State Governor, Ibrahim Geidam and Bauchi State Governor, Mohammed Abdullahi Abubakar during a courtesy visit to the Bayelsa … Pg 61 Abdullahi President at the Aso Rock Villa, Abuja ...yesterday Godwin OMOIGUI
How we Killed 3 Policemen, Kidnapped Dr. Ehanire, Collected N61m Ransom ... Page 14