Category: Economy

‘Interest hike targets only 10 per cent of inflation cause’ Analysts worry about energy crisis in January as EU sanctions commence World Bank: Inflation stems from lack of commitment to reforms Food shortage continues to ring alarm bells Rigidity undermines effort to rev economies Economists are worried that key drivers of inflation are being sacrificed […]

Says Buhari supports policy Policy will affect SMEs, Abuja Chamber says We won’t be rigid on cash withdrawal limit — Emefiele Despite criticisms trailing the Central Bank of Nigeria’s (CBN) newly introduced policy on cash withdrawal limits, CBN Governor, Godwin Emefiele, has said the policy is not meant to hurt anybody but to strengthen the […]

A woman takes Nigerian Naira from a bank’s automated teller machine (ATM). Credit: Reuters/Akintunde Akinleye Cases of fiscal mismanagement leading to high levels of trust deficit and lack of confidence in public institutions have been identified as factors limiting Nigeria’s potential and aggravating its economic woes. Economists believe that the inability of most Nigerians to […]

Manufacturers insist policy may lead to business collapse, job loss World Bank backs move The purpose of the proposed finance bill 2023 fiscal year should not be about mobilising more resources for the government but promoting the health of Nigerians and boosting the manufacturing sector. This was the view of Industry stakeholders, as they increasingly […]

More pressure on households as food inflation spikes; Photo: Sunday Akinlolu • As inflation climbs to 21.09% • Economists seek end to CBN budget deficit financing • Urge FG to increase support for agric, tackle flooding challenge • ‘Monetary, fiscal authorities helpless in dealing with rising inflation’ As expected, Nigeria’s inflation rate accelerated to a […]

FBNQuest has expressed concerns about Nigeria’s inflationary trend, noting that the present currency depreciation may further aggravate the country’s inflation outlook, especially as local prices begin to reflect import pass-through costs. Indeed, local producers have continued to complain about poor access to foreign exchange for the purchase of critical raw materials for production. With the […]

Doubts persist over immediate subsidy removal by next govt Tinubu, Atiku, Obi are pro-market reformers, good for economy, says Uzum Though presidential candidates in the forthcoming general elections have expressed commitments to addressing some of the challenges faced by Nigerians, members of the Organised Private Sector (OPS) have asked the candidates to go beyond rhetoric […]

Economists and public policy experts have commented on the disagreement between the Central Bank of Nigeria Governor, Mr Godwin Enefiele, and Minister of Finance, Budget and National Planning, Zainab Ahmed, over the proposed currency redesign, saying that it is a reflection of fiscal and monetary policies’ dissonance. Emefiele had on Wednesday announced that the bank […]

The Nigerian Export Promotion says the nation’s economy can thrive better without oil if the non-oil sector is prioritised. NEPC North Central Zonal Coordinator, Mr Samson Idowu stated this on Sunday in Jos in an interview. Idowu said that Nigeria is blessed with abundant non-oil resources ranging from agricultural produce to mineral resources. “If you […]