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Economy Insight

Read the latest news on the economy in Nigeria.

Dollar to naira has significantly increased, such that it has made the Nigerian local currency suffer a steady under President Muhammadu Buhari's watch. Unmask NG understands that within a period of six years that Buhari rode into power on the promise of making naira stronger as against the dollar, the...
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...
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...
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...
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...
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...
Africa witnessed a huge growth in Foreign direct investment (FDI) in 2021, a new report by the United Nations Conference on Trade and Development (UNCTAD) has shown. In its investment trends monitor report released on Wednesday, UNCTAD Africa showed a strong rebound in growth of 147 percent to an estimated...
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,...
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...
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,...