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Economy Insight

Read the latest news on the economy in Nigeria.

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...
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 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,...
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,...
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 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...
Banks and other financial institutions in the country, have been able to recover N50.32 million from debtors, within a period of nine days. Following the implementation of Global Standing Instruction (GSI), which enables banks to go after debtors' accounts in other banks to retrieve their loan, the non-performing loans have...
Stakeholders in Nigeria’s aviation sector are expressing fears, as mass sacking is imminent due to the novel coronavirus also known as COVID-19. Amongst the many sectors affected in this torrid period is the aviation industry. This is because of the lingering lockdown triggered by the infectious disease. While other sectors have...
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 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...