Sunday, October 24, 2021
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Economy Insight

Read the latest news on the economy in Nigeria.

Despite Nigeria’s N31 trillion debt, Zainab Ahmed, the Minister of Finance, Budget, and National Planning has disclosed the Federal Government's (FG) plan to secure an additional N6 trillion loan by December 2021. The minister recounted that the total public debt stock of the country, which comprises foreign and local debts...
In the next one year, Nigerians will not be able to afford new cars and houses. This is according to the Central Bank of Nigeria (CBN). Revealing why Nigerians are reluctant to make new purchases of houses and cars, the apex bank, in its Consumer Expectations Survey for third quarter...
Economic experts have lamented the losses of looting and arson of properties in Lagos State. Recall that between Tuesday, October 20, 2020, and Friday, October 23, some stores (both private and public), were looted, while properties were also destroyed by miscreants who hijacked the nationwide peaceful protest against police brutality...
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...
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 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 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...
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...
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...
Lagos Chamber of Commerce and Industry (LCCI), has expressed concern over the increasing debt portfolio of Nigeria. Speaking during LCCI's Annual General Meeting (AGM), Toki Mabogunje, the professional body's president, stated that the country's debt is fast becoming unsustainable. According to her, in the light of the dwindling oil prices and...