LAGOS, Sept 30 (Reuters) – Nigeria’s cabinet proposed on Wednesday a 3% economic growth target and an 11.95% inflation target for its 2021 budget, a presidency aide said.

The cabinet also plans to target a $40 per barrel oil benchmark and 1.86 million barrels per day of crude production in the budget, the aide said on his official Twitter account.



Nigeria's President Muhammadu Buhari is seen at the opening of the 33rd Ordinary Session of the Assembly of the Heads of State and the Government of the African Union (AU) in Addis Ababa, Ethiopia, February 9, 2020. REUTERS/Tiksa Negeri


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Nigeria’s President Muhammadu Buhari is seen at the opening of the 33rd Ordinary Session of the Assembly of the Heads of State and the Government of the African Union (AU) in Addis Ababa, Ethiopia, February 9, 2020. REUTERS/Tiksa Negeri

Badly hit by the coronavirus pandemic, Nigeria’s economy contracted 6.1% in the second quarter of 2020 and now faces possible recession in the third, with the government expecting the economy to shrink by as much as 8.9% this year.

Low oil prices have also taken their toll on

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Sep 24, 2020 (The Expresswire) —
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Market segmentation

Automated Dispensing Cabinet market is split by Type and by Application. For the period 2015-2025, the growth

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The government on Saturday said a Cabinet note has been formulated for the vehicle scrapping policy.

“The Ministry of Road Transport and Highways (MoRTH) has formulated a note for Cabinet on creation of an ecosystem for voluntary and environment friendly phasing out of unfit and old polluting vehicles,” Minister of State for Road Transport and Highways VK Singh told Rajya Sabha in reply to a query. The proposed policy, once approved, will be applicable on all vehicles, the government had said earlier.

The policy was sent for a fresh round of consultation with stakeholders on the direction of the PMO.

Road Transport and Highways Minister Nitin Gadakri had earlier this year said once the policy is approved, India could emerge as a hub for automobile manufacturing as key raw material available from scrapping steel, aluminium and plastic are bound to be recycled, bringing down automobile prices by “20-30 per cent”.

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Adani Enterprises Ltd will be leased out three airports — at Jaipur, Guwahati and Thiruvananthapuram — belonging to the Airports Authority of India (AAI).

The Gautam Adani company will take charge of operations, management and development. The company was declared the successful bidder in a Global Competitive Bidding conducted by the AAI, Minister for Information and Broadcasting Prakash Javadekar said after the Cabinet meeting here on Wednesday.

In 2018, the Centre had decided to privatise six airports — in Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram and Guwahati. The operation, management and development of these facilities were to be handled through the PPP model. Last year, Adanis won the bids to develop and run all the six following a competitive bidding process.

The concession agreements for Ahmedabad, Mangaluru and Lucknow were signed in February. But the plan took a hit because of the Covid-19 pandemic. In March, Adani Enterprises, citing force majeure,

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