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Economy Insight

Read the latest news on the economy in Nigeria.

The effect of global warming on Nigeria’s climate has led to increasing incidences of flooding, droughts, and other climate disasters as per some experts. With its rapidly growing population and an economy heavily dependent on oil, Nigeria is Africa's second-largest carbon emitter. Thankfully, as part of the Paris Climate Agreement, the...
Chairman of the United Bank of Africa (UBA) Group, Tony Elumelu has highlighted the economic recovery plan for President Muhammadu Buhari and other African leaders. While speaking at a roundtable discussion made up of African leaders, including Dr. Ngozi Okonjo – Iweala, the Special Envoy of the African Union on...
Dollar to naira has significantly increased, such that it has made the Nigerian local currency suffer a steady under President Muhammadu Buhari's watch. Unmask NG understands that within a period of six years that Buhari rode into power on the promise of making naira stronger as against the dollar, the...
The Nigeria communication commission (NCC) has said that it is working with stakeholders to ensure the safety of 5G network in preparing for the upcoming launch of the network. Speaking at a Tech forum themed “Multi-stakeholder approach to National Recovery post-pandemic,” the Executive Vice President, Prof Umar Danbatta explained that...
The Federal Inland Revenue Service (FIRS) has explained why Nigeria did not sign the Organisation for Economic Cooperation and Development (OECD) G20 Inclusive Framework two-pillar solution to tax challenges of the digitalized economy. The OECD G20 Inclusive Framework two-pillar solution proposes a framework of rules aimed at tackling base erosion...
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 National Bureau of Statistics (NBS), has on Friday, May 22, 2020, published Nigeria’s Internally Generated Revenue (IGR) for 2019 full year. NBS disclosed in the publication that the President Muhammadu Buhari-led administration, recorded a 20.92% year on year growth after the combined state’s IGR stood at N1.33 trillion in...
Dollar to naira lingering issue has attracted the attention of the World Bank, such that it counselled the Central Bank of Nigeria (CBN) on how to stabilise the foreign exchange (forex) market. In an interview with Punch, Shubham Chaudhuri, the Country Director for Nigeria, World Bank, said even though the...
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...
President Muhammadu Buhari will next year (2022) impose new taxes and increased tariffs on Nigerians. This is according to Zainab Ahmed, the Minister of Finance. Speaking with stakeholders on the sidelines of the 2021 Finance Bill in Abuja, Ahmed hinted that the Buhari-led government is considering modest increases in taxes...