Wednesday, December 1, 2021
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Economy Insight

Read the latest news on the economy in Nigeria.

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...
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...
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...
N-power is an empowerment scheme that President Muhammadu Buhari floated to cushion the effect of the unemployment rate on members of the public. To the delight of the beneficiaries, under the N-power scheme, the federal government has floated another N-knowledge. According to Hajiya Sadiya Umar Farouq, the Minister of Humanitarian Affairs,...
Former Fidelity Bank Boss, Peter Obi has advised the Federal Government on ways to move the country out of economic recession. Obi dished out the advice via his Twitter page, where he stated that the President Muhammadu Buhari-led government needs to change the economy from a wasteful consumption-based to a...
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...
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...
Dollar to naira, on Monday, November 8, 2021, opened at N414.01 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, dollar to naira exchange rate stood at N414.01/$1 today. This means that the Nigerian currency gained...
The only solution to the instability of Naira is the funding of Bureaux De Change (BDC). Muhammadu Sanusi II, the dethroned Emir of Kano, and former Governor of the Central Bank of Nigeria (CBN), made the above statement. While lecturing on the United States of Naira: What plan for unification, during...
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...