Wednesday, December 1, 2021
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Economy Insight

Read the latest news on the economy in Nigeria.

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...
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...
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...
Stakeholders in Nigeria’s aviation sector are expressing fears, as mass sacking is imminent due to the novel coronavirus also known as COVID-19. Amongst the many sectors affected in this torrid period is the aviation industry. This is because of the lingering lockdown triggered by the infectious disease. While other sectors have...
It is no longer news that the world economy has in the past months been brought to a standstill. As COVID-19 continues to ravage, different countries across the world have been seen embarking on a nationwide lockdown, a move that hasn’t just disrupted human activities but crippled the business...
The National Bureau of Statistics (NBS), has on Friday, May 22, 2020, published Nigeria’s Internally Generated Revenue (IGR) for 2019 full year. NBS disclosed in the publication that the President Muhammadu Buhari-led administration, recorded a 20.92% year on year growth after the combined state’s IGR stood at N1.33 trillion in...
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...