Weather Report
28℃
Tuesday, October 29
In its latest staff country report on Nigeria, the IMF mentioned, “The authorities noted that a supplementary budget may be needed to accommodate the outcome of the ongoing wage structure negotiations, which may exceed what they had included in the 2024 budget.” Naija News reports that the adjustment is crucial as the government is also considering raising domestic and external borrowing ceilings to avoid new borrowings from the Central Bank of Nigeria’s Ways and Means facility.
The Federal Government is contemplating a supplementary budget to accommodate a proposed increase in the minimum wage, as ongoing negotiations are likely to exceed the allocations in the 2024 fiscal plan, according to the International Monetary Fund (IMF).
The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1540 and sell at N1550 on Wednesday 15th May 2024, according to sources atBureau De Change (BDC)..
Read Full Story