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Economy Insight

Read the latest news on the economy in Nigeria.

In the past few months, many Nigerians have been faced with the harsh reality of paying more to buy food commodities, especially farm produce harvested within the country. Amongst them was one Akinola Abdulkareem, who wrote on Twitter: “Food is now overtly expensive, no one is talking. As middle...
The Federal Government (FG) is looking forward to increasing its crude oil extraction capacity. Calling on marginal oil fields to help increase and grow the country’s reserves, the Department of Petroleum Resources (DPR) disclosed that out of the 7,000 oil reserves that have been discovered in the country, only...
Access Bank and five others have been enlisted for the Special Public Works (SPW) programme, which will commence on Tuesday, January 5, 2020. The other financial institutions are -Zenith, Fidelity, FCMB, UBA, and Heritage banks. While disclosing this during a recently-held interview, Festus Keyamo, the Minister of State for Labour and Employment,...
Some financial experts have advised the Federal government on how to tackle Nigeria's economic situation. With the decline of economic activities in the country, financial experts like Prof. Uche Uwaleke, a professor of Capital Market at the Nasarawa State University, Owoturo Seyi, the President of the Institute of Capital Market...
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,...