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Economy Insight

Read the latest news on the economy in Nigeria.

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....
President Muhammadu Buhari has bragged about the launch of eNaira, saying under his watch, Nigeria became the first country in Africa to float a digital currency. Speaking at the official launch of eNaira in Abuja on Monday, October 25, 2021, the president stated: "We have become the first country in...
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...
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...
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...
Nigerians may soon start to pay more for the purchase of petrol. This is according to marketers of the commodity. In the latest development on the possible increment of petrol, oil marketers under the aegis of Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of...
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...
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...
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...