05.04.18
FOR GOD AND COUNTRY
No. 3,037
THURSDAY
THURSDAY
N200
NIGERIA’S MOST INFLUENTIAL NEWSPAPER
Leadership Newspapers
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Again, MPC Retains Interest Rate At 14% Urges restraint on domestic borrowing
BY MARK ITSIBOR, Abuja And BUKOLA IDOWU, KEHINDE SALLAH, Lagos
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday retained the interest rate at 14% even as it
urges restraint on local borrowing. MPC said the nation’s economic indications are looking positive, with the recovery of the economy strengthening in view of the return
to growth of the Services Sector. The reconstituted MPC made gave the hint yesterday at its 260th meeting held against the backdrop of strengthening global growth
and improving domestic economic condition. The committee based its forecast on the recent data by the National Bureau of Statistics that indicated,
INEC Issues Election Notice For Ekiti Governorship Poll ➔Pg. 40
among other things, that real Gross Domestic Product grew by 1.92 percent in the fourth quarter of 2017 from 1.4 percent and 0.7 percent in the third and second quarters respectively. ➔ CONTINUED ON PAGE 7
2 APC Govs Set To Call Illegal NEC Meeting 6 PMB Approves $1bn For Arms Purchase To Fight Insecurity BY JONATHAN NDA-ISAIAH
President Muhammadu Buhari yesterday approved the sum of $1 billion for the procurement of security equipment to fight insecurity in the country. This was disclosed by the Minister of Defence, Mansur Dan-Ali, after a meeting between the president and security chiefs at the presidential villa. The country has been facing security challenges, including Boko Haram insurgency in the Northeast, herders/farmers clashes in the North Central, militancy in the Niger Delta and cattle rustling in the Northwest. Disturbed by the growing spate of insecurity, the National Economic Council (NEC) had approved federal government’s request to withdraw the $1 billion from the Excess Crude Account (ECA) to combat insecurity in the country. ➔ CONTINUED ON PAGE 6
Chairman, Capital Equipment Ltd, Bashir Yusuf Ibrahim (left) and head, Africa Region of Minsk Tractor Works, Mr Kiril A. Vasilenko, (right), during the signing of an MoU to build a BELARUS Tractor Assembly Plant in Nigeria, yesterday. With them are Nigeria’s ambassador to Russia with concurrent accreditation to the Republic of Belarus, Prof. Steve Ugbah (left) and chairman of Belarus Chamber of Commerce, Mr. Vladimir Ulakhovich.
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