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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Farmers accuse govt of lip service to economic diversification FG earmarks 1.73% against 10% Maputo declaration Failure to boost sector spells doom, ex-PAN boss warns Allocations by federal and state governments to agriculture in 2021 have fallen below five per cent, less than half way into the bottom line agreed to at the Maputo and […]
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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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President Muhammadu Buhari has ordered the National Agency for Science and Engineering Infrastructure (NASENI) to deploy all refurbished tractors to farmers to boost agricultural activities in the country. The Vice Chairman of NASENI, Prof. Mohammed Sani Haruna, told State House correspondents that the president gave the order when he updated (Buhari) him on the activities […]
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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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A vendor wears a face mask as she waits for customers at the Kea Farm in Cameron Highlands near Brinchang in Malaysia’s Pahang state on November 28, 2020. (Photo by Mohd RASFAN / AFP) Global food commodity prices rose sharply in November to their highest level in nearly six years, the UN food agency said […]
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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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The Central Bank of Nigeria (CBN), yesterday, said it is injecting N25b into the cassava value chain this year. The move, according to the Apex bank is to curb $600 million spent on the importation of cassava derivatives into the country. This is just as the International Fund for Agricultural Development (IFAD) in the collaboration […]
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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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