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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Finance Minister, Zainab Ahmed Capital market operators have warned that the proposed plan by the Federal Government to manage unclaimed dividends which is projected to hit N200 billion by the end of this year, would erode investor confidence and hinder the growth of the market. As one of its last options to fund the economy, […]
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Business experts have expressed confidence in the Lagos Free Zone (LFZ), capacity to contribute around two percent of Nigeria’s Gross Domestic Product (GDP) when fully developed. They stated this during a virtual investor showcase by the Common Wealth Enterprise and Investment Council (GDP), to host the Lagos Zone as its newest strategic partner. According to […]
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Peterside makes case for small businesses A tweet by an investment banker and economist, Atedo Peterside, sparked a debate on Tuesday on the export waiver granted manufacturing giants, Dangote Industries and BUA Group. The issue trended for hours on social media, with users criticising the Federal Government for favouring big companies. In the tweet via […]
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