Photo/Twitter/Cenbank Calls for market-based fuel pricing The International Monetary Fund (IMF) has called for the adoption of the Nigerian Autonomous Foreign Exchange (NAFEX) window for official transactions as well as the unification of all rates to achieve a market-clearing rate. It stated this in a statement issued after a virtual meeting with Nigerian authorities from […]
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In the first part of this essay, Mr Olusola Adeyegbe, a Commercial Lawyer with a Master’s Degree in Petroleum Taxation and Finance, who has a vast experience in Regulation in the Banking and Energy Sectors, stresses the need to have an independent Regulator for the power sector, the main driver of Nigeria’s economy, so that […]
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“We think that debt has to be seen from the standpoint of its origins. Debt’s origins come from colonialism’s origins. Those who lend us money are those who had colonised us before. Under its current form, that is imperialism-controlled, debt is a cleverly managed re-conquest of Africa, aiming at subjugating its growth and development through […]
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NPL 20% above the maximum threshold, may affect dividend payout Experts blame weak economy, harsh business environment Economists urge banks to observe due diligence in approval, strengthen risk framework CBN Governor Godwin Emefiele There are mounting concerns over the increase in banks’ toxic assets and the potential bubble from Loan to Deposit Ratio (LDR) as […]
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Economy still troubled, in recession, say LCCI, Tella ‘Nigeria’s riotous cattle-herding system stealing growth potential’ Experts warn against undue optimism Defying projections and leveraging opportunities presented by the coronavirus pandemic through technology and remote work, Nigeria’s resilient private sector helped the economy to exit recession in the fourth quarter with a growth of 0.11 per […]
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‘Inflation to moderate at 14.5 per cent’ The Nigeria Economic Summit Group (NESG) has projected that the Nigerian economy would grow by 2.9 per cent this year and achieve a sustained high growth rate up to 2025 in line with the expected global recovery. The NESG, in its 2021 Macroeconomic Outlook unveiled yesterday, said the […]
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The Naira has recently sunk to a four-year low against the US Dollar, as the country’s central bank has weakened the national currency for the third time in 2020. However, there are reports that it could rise again early in the next year. What Has Happened? Strong demand for dollars and a lower than expected […]
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January employment, business growth outlook positive In what could be interpreted as an admission of its shortcomings and self-indictment, the Central Bank of Nigeria (CBN) has admitted that Nigerians are displeased with the management of the country’s inflation. Experts had balked at efforts taken by the monetary authority to stem the inflationary pressure. Many have […]
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Emefiele blames negative growth rate on lockdown The International Monetary Fund, IMF, has urged the Central Bank of Nigeria (CBN) to get the country a unified exchange rate for the naira. It remained stable at N378 to dollar on the CBN’s official rate. The naira was on Sunday exchanging at N500 to dollar at the […]
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ss MPC retains policy rate, other parameters Food inflation to moderate as harvest starts, says Emefiele We must avoid blind speculation, Adedipe warns Nigeria is grappling with additional challenges, including a faster rate of inflation, as the gap between official and parallel segment of the foreign exchange (FX) market continues to widen. As of yesterday […]
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