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Economy Insight

Read the latest news on the economy in Nigeria.

Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN) might have indicted President Muhammadu Buhari when he stated that medical tourism put a huge strain on the country's foreign reserves. Speaking at the launch of Duchess International Hospital, a newly built 100-suit health facility located in Ikeja, Lagos,...
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 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...
Dollar to naira again traded on Friday, October 22, 2021, and activities in the foreign exchange (forex) market, saw the Nigerian local currency exchanged for N414.10 per $1 at the Investors & Exporters FX window ( I&E FX Window), where the currency officially trades. According to the data seen by Unmask NG...
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...
Dollar to naira, on Friday, October 29, 2021, opened at N414.49 at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade. This development represents a fact that naira gained as against the dollar, as it closed at N415.10, a 09% drop, on Thursday, October 28. According to...
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 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...
Nigeria is no longer Africa's largest oil producer. This is according to the Organization of the Petroleum Exporting Countries (OPEC), who disclosed this development in a report. In the report, the intergovernmental organisation established for oil-related purposes, revealed that Nigeria's oil production output dropped further last month (October 2021). Hence,...
Dangote Group has advised African leaders to unanimously adopt the fixing of their infrastructure deficit, saying with this, intra-trade amongst them would be more efficient. Speaking on the sidelines of the ongoing Intra-African Trade Fair (IATF), Rabiu Umar, the Commercial Operations Officer, Dangote Group, said aside from the fixing of...