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 […]
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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 […]
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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 […]
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NCC rejects Airtel’s administrative spectrum assignment request Regulator to consult widely on MTN’s desire Stakeholders decry high cost, want NCC to consider forex challenges MTN’s interest in additional Fifth-Generation (5G) spectrum licence is currently causing serious rancor among other operators and stakeholders in the industry. Indeed, other operators and stakeholders, who were against MTN’s move, […]
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The Central Bank of Nigeria has stopped disbursing funds to farmers under the Anchor Borrowers Programme which started in 2015, but beneficiaries kicked against this on Thursday. Presidents of 68 agricultural commodities’ associations told journalists in Abuja on Thursday that the apex bank stopped supporting farmers under the ABP scheme since 2021. They called on […]
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Employers of labour in the food and beverage sector have concluded plans to leave Nigeria and relocate their factories to neighbouring West African countries over alleged outrageous excise duty on carbonated drinks and multiple taxation by the Federal Government. The employers, who called on the Federal Government to take urgent action to save the business […]
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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 […]
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Experts in the financial sector have called on banks across the country to support the government in funding infrastructure to create opportunities for economic recovery. The president of Chartered Institute of Bankers of Nigeria (CIBN), Dr. Ken Opara, a finance and infrastructure specialist, Opuiyo Oforiokuma and other experts advised financial institutions at the 2022 fellowship […]
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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 […]
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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 […]
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