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Economy Insight

Read the latest news on the economy in Nigeria.

The Central Bank of Nigeria (CBN) has advanced steps to tackle the increasing exchange rate challenge the country has since been battling, as it announced its decision to attract about $2 billion monthly as remittances from citizens in diaspora. According to the Governor of CBN, Godwin Emefiele, since Pakistan receives...
Stakeholders in the manufacturing sector have faulted the Federal Government over the country's poor economic performance. This development came amid the recession Nigeria just plunged into. With the economic downturn, stakeholders in the manufacturing sector, including those under the auspices of Manufacturers’ Association of Nigeria’s Export Group, Abuja Chamber of Commerce...
KPMG Nigeria has suggested 10 macro trends that will determine Nigeria’s economy in 2021. The Macro trends suggested by KPMG are -Global dynamics, fiscal sustainability, uncertain forex environment, stringent policy posture, constrained productivity and accelerated credit penetration, cautious private sector investment activities, emerging digital economy, socio-political threats, and consumer pressure...
Economic experts have advised the Federal government to advance economic diversification in other to exit the current recession. With the decline of economic activities in the country, economic experts including Prof. Ndubisi Nwokoma, the Director, Centre for Economic Policy Analysis and Research (CEPAR), University of Lagos, David Adonri, the Vice...
Former Fidelity Bank Boss, Peter Obi has advised the Federal Government on ways to move the country out of economic recession. Obi dished out the advice via his Twitter page, where he stated that the President Muhammadu Buhari-led government needs to change the economy from a wasteful consumption-based to a...
The Federal Inland Revenue Service (FIRS) has warned Muhammadu Buhari against plunging Nigeria into a debt crisis. Recall that some months ago, the Debt Management Office (DMO) released the country’s debt report. In the report as reported on Unmask NG,  Nigeria’s total debt stock, which comprises foreign and local arrears,...
Despite Nigeria’s N31 trillion debt, Zainab Ahmed, the Minister of Finance, Budget, and National Planning has disclosed the Federal Government's (FG) plan to secure an additional N6 trillion loan by December 2021. The minister recounted that the total public debt stock of the country, which comprises foreign and local debts...
In the next one year, Nigerians will not be able to afford new cars and houses. This is according to the Central Bank of Nigeria (CBN). Revealing why Nigerians are reluctant to make new purchases of houses and cars, the apex bank, in its Consumer Expectations Survey for third quarter...
Economic experts have lamented the losses of looting and arson of properties in Lagos State. Recall that between Tuesday, October 20, 2020, and Friday, October 23, some stores (both private and public), were looted, while properties were also destroyed by miscreants who hijacked the nationwide peaceful protest against police brutality...
The Nigerian government has lost no fewer than N700 billion in less than three weeks. This is due to the nationwide #EndSARS protest. While discussing the implications of the protest against police brutality, Toki Mabogunje, the President of Lagos Chamber for Commerce and Industry (LCCI), said the nationwide demonstration has...