• Latest
  • Trending

Recession looms as Nigeria’s budget deficit hits N4.5trn

8 months ago

ECOWAS leaders agree to source COVID-19 vaccines as a bloc to reduce cost

8 mins ago

Breaking: Truck crushes students, traders to death in Ondo

2 hours ago

Court never sacked NDDC Interim Management Committee – Lawyer

3 hours ago

AIB, LAAC seek to reduce human errors In Air Mishaps

3 hours ago

Matawalle visits Communities attacked by bandits, assures adequate security

4 hours ago

Shehu of Dikwa, Mohammed El-kanemi dies at 79

4 hours ago

BREAKING: National Assembly postpones resumption over APC registration exercise

5 hours ago

BREAKING: Veteran talk show host, Larry King, dies at 87

7 hours ago

Rivers United arrive Port Novo ahead Bloemfontein Celtics clash

8 hours ago

Video: Okowa visits scene of Gas Plant explosion in Agbor

9 hours ago

Court remands two suspects for alleged adulteration of engine oil

10 hours ago

NPFL: Adamawa United host Enyimba, Kwara United welcome FC Ifeanyi Ubah

10 hours ago
  • HOME
  • ADVERT RATE
  • Privacy Policy
  • CONTACT US
TVC News
  • Home
  • News
  • Business
  • Politics
  • Sports
  • Entertainment
  • Shows
  • Video
No Result
View All Result
Saturday, January 23, 2021
Livestream
Advertise Here
TVC News
No Result
View All Result

Recession looms as Nigeria’s budget deficit hits N4.5trn

June 3, 2020
in News, Nigeria
1 min read
Share on FacebookShare on Twitter

Nigeria may be heading for a recession this year as indications with a deficit financing of its revised N10.509 trillion 2020 budget rises to N4.563 trillion from N1.847 trillion earlier projected.

In separate presentations made by heads of the revenue generating agencies led by the Minister of Finance, Budget and National Planning, Zainab Ahmed before Senate Committee on Finance, earlier targeted revenues from all the relevant agencies have been drastically slashed in the new proposals.

Besides, 77 per cent of the newly proposed revenues from the various sources like the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigerian Customs Service is for debt serving.

The Minister in her response to a question on the likelihood of recession said “The global economy is predicted to be slipping into recession. What Nigeria can do is to minimise the extent of the looming recession.

Advertisement
Tags: BudgetEconomy DownturnRecession
SendShareTweetShare

Related Posts

News

Analysis: Nigeria emerges best economy in Africa, 26th globally

3 weeks ago
Business

UK to experience worst recession in 3 centuries – Chancellor of the Exchequer

2 months ago
News

Atiku write Buhari says ‘We must exit this recession with precision’

2 months ago
News

Buhari appoints Fashola, Malami, others power committee members

4 months ago
News

COVID-19: Taraba Govt sets aside N22b to curb pandemic

6 months ago
Business

Google to invest up to $2bn in Polish data centre

7 months ago




TVC News Nigeria

© 2020 TVC News
First with Breaking News
All Rights Reserved

Navigate Site

  • HOME
  • ADVERT RATE
  • Privacy Policy
  • CONTACT US

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • Politics
  • Sports
  • Entertainment
  • Shows
  • Video

© 2020 TVC News
First with Breaking News
All Rights Reserved

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

quality online essay writing service