Fidelity bank card banner Camano banner
Reduced oil revenue: Nigeria moving in the right direction, says IMF

By News Express on 27/11/2014

Views: 2,148


The International Monetary Fund (IMF) has thrown its weight behind strategies announced by Nigeria to deal with the decline in global oil prices.

The IMF Mission Chief for Nigeria, Mr. Gene Leon, said in a statement issued yesterday in Abuja: “In a combination of actions, most recently the communiqué after the Central Bank of Nigeria’s Monetary Policy Committee meeting of November 24-25, the authorities have announced a set of policies aimed at mitigating the impact of the recent significant fall in global oil prices on the economy. These include: adjusting the exchange rate, resubmitting the Medium Term Expenditure Framework to the National Assembly with proposed tax and expenditure measures to achieve the deficit target consistent with a lower budget oil price, and tightening monetary policy.

“We are supportive of and welcome these actions, which we view as complementary and moving in the right direction. Of course, the global situation remains fluid and the key issue is being ready to manage downside risks and for the authorities to be prepared, based on assessments of credible scenarios, to consider additional measures, as necessary.”

•Photo shows IMF Mission Chief for Nigeria, Mr. Gene Leon.

Source News Express

Posted 27/11/2014 12:19:48 PM

 

 

CLASSIFIED ADS

 

You may also like...
‘Boko Haram’s attack on Monguno desperate, diversionary’ •DHQ...

Zinox boss wants free internet access for all...

Stakeholders say special court for treasury looters unnecessary,...

How northern governors created Boko Haram —Jonathan

Police dismisses reports of bomb explosion in Lagos...

N4.7b lost as a result of Buhari’s visit...

Nigeria needs national maritime policy — Enwelu, NCMDLCA...

Police arrest suspected kidnapper in Yobe

More foreign visitors troop into Nigeria – Data...

Reps canvass military intervention to end Delta crisis...

Rich cultural display heralds Delta @ 25 •Excited...

N500m fraud: Prosecution kicks against Belgore’s bid to...

 

Latest News Jonathan’s ally joins Bayelsa guber race Father’s Day: Okowa urges parents to build better homes INEC Server: Atiku tackles mischief makers Human trafficking: How organ hunters obtain, sell hearts, human eggs We must join hands to lift our young ones from poverty to prosperity, says Tony Elumelu as he receives honorary doctorate degree Journalist, relief officials escape abduction CAN Presidency: TEKAN President draws battle-line with Ayokunle APC crisis may delay submission of ministerial list to Senate Akeredolu lauds NDDC 4,000 health personnel needed in Borno – Health Union 2019 Elections: How political parties created logistic challenges – INEC A pain has come that will never go, says Dokubo as elder sister is buried

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (494,139 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (425,317 views) Shameless Genevieve Nnaji exposes breasts in public (365,067 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (311,697 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (276,043 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (243,891 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (233,799 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (215,727 views) 10 cars more expensive than Jets (212,354 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (204,304 views) Lagos plane crash: Journalist releases victims’ names (184,411 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (183,753 views)

 

NNPC Financial reports February 2019

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (93) Business & Economy (4,308) Business Verdict (73) Columnists (1,051) Complaints & Requests (95) Enterprise & Opportunities (209) Entertainment (623) Features (759) Global Business Monitor (378) ICT Monitor (53) International (3,591) Interview (184) Live Commentary (30) Love Matters (162) Maggie's Blog (302) News (47,400) Opinion (1,260) Pidgin (17) Politics (11,022) Religion (1,022) Sports (2,043) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera