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Economy Insight

Read the latest news on the economy in Nigeria.

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...
Dollar to naira, on Monday, August 22, 2022, opened at (undisclosed) at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade. According to the data at the FMDQ Security Exchange where forex is traded officially, the dollar to naira exchange rate stood at (undisclosed). This would mean that the...
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...
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,...
Dollar to naira exchanged on Thursday, August 25, 2022, at (undisclosed) at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade. Going by available data on the window where dollar to naira trades every day, the currency at the central stood at (undisclosed). This figure in which...
It is no longer news that the world economy has in the past months been brought to a standstill. As COVID-19 continues to ravage, different countries across the world have been seen embarking on a nationwide lockdown, a move that hasn’t just disrupted human activities but crippled the business...