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Economy Insight

Read the latest news on the economy in Nigeria.

Zamfara has secured a N5billlion gold refinery deal from the Central Bank of Nigeria (CBN). The state governor, Bello Matawalle made this disclosure. Addressing journalists during a press conference, Matawalle explained that the new deal is to strengthen the state government’s commitment to supply refined gold. The Zamfara governor further revealed...
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...
The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Oscar Onyema has revealed how several policies of the Central Bank of Nigeria (CBN) saved the country's economy from a total meltdown as COVID-19 rages. During a forum over the weekend, Onyema stated that the economy faced different challenges as...
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...
The International monetary fund has announced that the world economy is projected to fall by 4.4% in 2020, an upward guide from an earlier predicted rate of -4.9%. On Tuesday, IMF revised the global economy growth upward for the year 2020 but warned against long and unstable roadblocks to full...
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...
The Association of Bureaux De Change Operators of Nigeria (ABCON), has cautioned against an increase in retirement age. The Association maintained that the increase in the retirement age works indirectly on the policies that are targeted at reducing the rate of unemployment amongst youth in the country. In its quarterly economic...
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...
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...
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...