Wednesday, December 1, 2021
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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,...
UK-based magazine, The Economist recently published a damning editorial that exposed President Muhammadu Buhari's ineptitude to govern, such that he tagged him incompetent. Amongst other things, the publication stated that the Nigerian President failed woefully in his promises, including tackling corruption, which was his campaign message in 2015. Below are the...
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 Central Bank of Nigeria (CBN) has floated Tertiary Institutions Entrepreneurship Scheme (TIES), a new grant scheme in order to tackle the country's alarming unemployment rate. Unlike several other existing grants in the country, the TIES is a N500 million grant that would be accessible for students across tertiary institutions....
In the past few months, many Nigerians have been faced with the harsh reality of paying more to buy food commodities, especially farm produce harvested within the country. Amongst them was one Akinola Abdulkareem, who wrote on Twitter: “Food is now overtly expensive, no one is talking. As middle...
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...
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,...
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...
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...
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...