Tag Archives: Economy

For about two hours Monday, President Muhammadu Buhari met with the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, Finance Minister Mrs. Kemi Adeosun and her Budget & National Planning counterpart, Senator Udoma Udo Udoma. Their discussion centered on the state of the economy, including the implementation of this year’s Appropriation Act and preparation for next year’s estimates, among others. …

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The Senate has lamented that the current regime of high interest rates; between 28-30 per cent for the private sector, have continued to place a major burden on business investments, thereby negatively impacting the survival of Nigerian businesses. The Senate noted further that only about three per cent of Small and Medium Scale Enterprises (SMEs) have access to credits from …

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Some financial experts have expressed optimism that there would be increased liquidity in the capital market in the second quarter of this year. They said in Lagos on Wednesday that the sustained economic recovery measures of the Federal Government would impact positively on the market this quarter. Dr Uche Uwaleke, the Head of Banking and Finance Department in Nasarawa State …

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From Left: Director General, Nigeria Employers Consultative Association (NECA), Mr Olusegun Oshinowo; President NECA, Mr Larry Ettah and Director Membership Services NECA, Mr Timothy Olawale, during a Press Briefing on the Nigerian Economy and Policy Environment, held in Lagos…on Thursday. Advertisement

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Activities in the private sector in the domestic economy, expanded for a second straight month in February, driven by a rise in new business despite a fall in export sales, a survey showed on Friday. The Markit Stanbic IBTC Nigeria Purchasing Managers’ Index (PMI) rose to 52.2 last month after rising to 51.9 in January, the strongest reading since December …

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The National Bureau of Statistics (NBS) on Tuesday released the 2016 4th Quarter Gross Domestic Product (GDP) Report which shows a significant improvement in the country’s economic fundamentals and promising signs that things are beginning to turn for the better. Although the numbers are still negative, indicators in the critical sectors show some encouraging improvements compared to those of the …

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The World Bank has predicted that the Nigerian economy would rebound from recession and grow by one per cent in 2017 The multilateral institution stated this in its January 2017 Global Economic Prospects report. Nigeria’s third quarter 2016 real gross domestic product (GDP) had contracted by 2.26 per cent from -2.06 per cent in the second quarter of this year, …

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Nigerian recession: Massive food production to the rescue? Dayo Emmanuel     As the US Dollar continues to gain against the Nigerian currency, the Naira, the effects on local goods and services are becoming unbearable for the common man. The exchange rates now standing between N485 and N500 for a Dollar in the last few days has been responsible for …

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    The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has advised the Federal Government against advice from some Nigerians to sell the multi-billion dollar Nigeria Liquefied Natural Gas Limited (NLNG) to raise funds for the ailing economy. While the Federal Government thinks through plans to raise between $10 and $15 billion  (about N4.72 trillion) to boost the economy, prominent …

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We have a strategic plan that will take us out of the recession – Adeosun The Minister of Finance, Mrs Kemi Adeosun, has assured Nigerians that the current economic recession the nation was experiencing will not be prolonged. She gave the assurance on Friday in Abuja while addressing a news conference. She said that there was a strategic plan by …

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