economic

Nigerian Banks Nigerian Banks The Chartered Institute of Bankers of Nigeria (CIBN) has decried the current high interest rate charged by commercial banks, saying it is stifling the growth of businesses. Speaking at the 2017 CIBN Graduates Induction and Prize Award in Lagos recently, the President/Chairman of the CIBN, Prof. Segun Ajibola, said the Institute […]

CBN Headquarters, Abuja CBN Headquarters, Abuja The Central Bank of Nigeria (CBN) has injected $250million into the various segments of the inter-bank foreign exchange market. Figures obtained from the CBN indicated that the Retail Secondary Market Intervention Sales segment of the market received the highest intervention with a total of $100m, the Small and Medium […]

…To Join Certified Fraud Examiners’ Body as Corporate Member. The Nigerian National Petroleum Corporation (NNPC) will equip 50 per cent of its work force with requisite knowledge on how to identify and examine fraud as part of measures to stamp out corruption from its system. The Group Managing Director of the NNPC, Dr. Maikanti Baru, […]

Dr Yemi Kale NBS Statistician General Dr Yemi Kale NBS Statistician General The National Bureau of Statistics (NBS) has reported that the Nigerian economy has finally exited the recession, as data on the country’s gross domestic product (GDP) growth rate grew at 0.55 per cent in the second quarter (Q2) of 2017. The Q2 2017 […]

DMO The Debt Management Office said Federal Government can borrow up to but not more than $22billion in the 2017 fiscal year. The DMO, in its ‘Determination of Borrowing Limit for 2017’ report, stated that the Federal Government could borrow up to 5.89 per cent of the country’s Gross Domestic Product estimated at $374.95bn. According […]Read More

In fulfillment of its mandate to significantly spur Micro, Small and Medium Scale Enterprises in Nigeria, the Federal Government will b launching one-stop shops across the country to facilitate smoother government regulation and interface between entrepreneurs and agencies like the National Agency for Food and Drug Administration and Control (NAFDAC), Corporate Affairs Commission (CAC), Standards […]

The sustained strategic intervention of the Nigerian National Petroleum Corporation (NNPC) in the efficient supply and distribution petroleum products has led to significant fall in the prices of Premium Motor Spirit (PMS), also known as petrol, and Liquefied Petroleum Gas (LPG), also known as cooking gas, nationwide. A national survey by Oil and Gas Forum, […]

States in the federation have raised N791.2 billion through issuance of bonds in 40 years to carry out infrastructural development projects or service loans. A bond is a debt investment in which an investor loans money to an entity, typically corporate or governmental, which borrows the funds for a defined period of time at a […]

NNPC NNPC The Nigerian National Petroleum Corporation (NNPC) has said the ex-depot price of petrol has dropped from N138 to N133.28 per litre in most of its depots, indicating a gain of N4.72 for marketers. The drop is even sharper in private depots where the price came down to N130 or N131 per litre, a […]

A leading economist and the Chief Executive Officer of Economic Associates, Dr. Ayo Teriba, has called for the opening of the Nigerian economy through privatization which stimulates foreign direct investment(FDI).“Privatization is the tool which most countries use to check their liquidity issue and beef up the economy and Nigeria can also do the same by […]

President Donald Trump President Donald Trump of U.S has renewed his threat to scrap North American Free Trade Agreement (NAFTA) and ripped on trading partners Canada and Mexico. Trump issued the threat in a tweet early on Sunday, days before the three countries were scheduled to hold a second round of negotiations on rewriting the […]

Share on Facebook Tweet on Twitter  A strong infrastructure base is critical for Africa’s economic transformation, Economic Commission for Africa’s Sylvian Boko has said . Speaking during an ECA-sponsored session at the annual Nigerian Bar Association conference in Lagos, Nigeria, Mr. Boko, the Principal Regional Advisor and Head of Development Planning and Statistics at the […]