Category: Economy

Naira depreciated to new lows across many markets as continuing Central Bank of Nigeria, CBN’s intervention failed to stem the fall of the Nigerian currency at the official and parallel markets. It depreciated against the dollar by 0.3 per cent or N1 to N389.50/$ at the official Investors & Exporters (I & E) window. Activity […]

• Experts foresee difficulty in execution• Effect of scourge on debt servicing worries DMO The Central Bank of Nigeria (CBN) has announced six new policy measures to mitigate the spread of the dreaded coronavirus across the country. Addressing journalists yesterday in Abuja, the governor, Godwin Emefiele, said the apex bank’s intervention facilities had been granted […]

• Warn of recession, say foreign exchange scarcity imminent• ‘Why 2020 budget estimate for oil price, production is unrealistic’ Economists and other stakeholders in the oil and gas sector on Monday predicted a bumpy road for Nigeria’s N146.96 trillion economy, insisting that prevailing realities at the international oil market could worsen the nation’s fiscal outlook, […]

accuses agencies of violating accounting rules, failing to submit fiscal reports MDAs without audited reports increased from 148 in 2014 to 323 in 2018 Financial indiscipline blamed on Buhari’s inaction, failure to sign anti-graft bills Almost all Ministries, Departments and Agencies (MDAs) have been indicted for financial wrongdoings in the latest fiscal assessment of the […]

Chairman Board of Trustees of the Peoples Democratic Party, PDP, Senator Walid Jibrin, has said that the delay in appointing ministers by President Muhammadu Buhari is not good for the country. Speaking in Abuja on Monday, Jibrin urged the President to hasten the appointment of his ministers. According to him, the appointment of competent persons […]

Nigeria’s Central Bank governor Mr Godwin Emefiele on Monday said the country’s economy remains fragile, about two years it exited a harsh economic recession. Emefiele, who resumed as the CBN governor for a second term at the beginning of June, said it still not all rosy for Africa’s most populous country. He made the comment […]

Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Saturday stressed the need to strengthen efforts over the coming years to stimulate growth and create jobs in critical sectors to insulate the economy from global shocks. He said this while giving a welcome address at a consultative round-table titled, “Going for Growth” […]

Nigeria’s President Muhammadu Buhari will officially begin his second and final term on Wednesday following his re-election in February. Despite his large winning margin, the next four years won’t be easy for the 76-year-old former general. Here are some of the key issues he’ll face while at the helm of Africa’s biggest oil producer and […]

Federal Government’s tacit endorsement of the International Monetary Fund’s (IMF) advice on fuel subsidy removal has already triggered far-reaching consequences, with most petroleum marketers hoarding or rationing Premium Motor Spirit (PMS). Expectedly, this has led to fuel queues appearing across the country. The planned subsidy removal notwithstanding, the inability of the Federal Government and depot […]