Nigeria’s economy on brink of collapse, NECA raises alarm

Says energy crisis, forex scarcity, falling currency, others bleeding economy Urges FG to resolve challenges with holistic approach The Nigeria Employers’ Consultative Association, NECA, Sunday in Lagos, raised the alarm that the nation’s economy is on the brink of collapse, warning that spiralling inflation, rising energy cost (scarcity of FOREX, the dwindling value of the […]

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Access Bank CEO urges firms to embrace technology

Group Managing Director of Access Bank Plc., Mr Roosevelt Ogbonna, has enjoined corporate entities to embrace technology, to stay afloat in the increasingly competitive market place. While delivering a keynote address at the unveiling of an app, known as “Cydene Express’’ in Lagos on Wednesday, he said that corporate entities failing to keep pace with […]

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More worries over rising inflation, headwinds as MPC meets today

MPC contemplates lesser evil, appraises intervention framework amid downturn Monetary committee has no relevance to ordinary Nigerians, says Olusoga NBS inflation report contradicts Buhari’s claim on economy In the face of economic and financial challenges, members of the rate-fixing arm of the Central Bank of Nigeria (CBN), the Monetary Policy Committee (MPC), will face tough […]

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Inflation pushing Nigeria, others to the brink — IMF

The International Monetary Fund has said inflation, debt, and forex crisis are pushing the Nigerian economy and other African economies to the brink. The Managing Director of the IMF, Kristalina Georgieva, said ministers of finance and central bank governors on the continent disclosed this to her this week. She added that most countries on the […]

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First vessel berths at Lekki deep seaport

Lekki Deep Seaport Three Ship-to-Shore cranes and 10 Rubber-Tyred Gantries critical to the commencement of operations of the Lekki Deep Seaport arrived in Nigeria on Friday, the News Agency of Nigeria (NAN) reports. Their arrival, according to Mr Mohammed Bello-Koko, Managing Director of the Nigerian Ports Authority(NPA), represents a major step toward birthing Nigeria’s first […]

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Nigeria risks financial ‘blockade’, frosty relations with funders

World Bank calls for sovereign debt changes ahead of looming recession Cold attitude to reforms harming domestic investment outlook, experts say ‘Challenge western countries but with better policy options’ Nigeria’s Eurobond rises by about 100% in six months Nigeria is gradually inching towards a financial ‘blockade’ at the international financial market, as its working relationship […]

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MAN, LCCI, economists counter Buhari’s claim on economy

The Manufacturers Association of Nigeria, MAN, Lagos Chamber of Commerce and Industry, LCCI,  and economists on Wednesday countered the claim by President Muhammadu Buhari that the economy under him is better than it was in 2015. Chairman of the Gas Group, MAN, Mr Ola Adebayo, said Buhari’s administration’s policies have not translated into positive economy […]

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Experts seek urgent action to save Nigeria’s wheat value chain

Wheat farm Industry leaders have called on the Federal Government to take swift and deliberate action to cushion the effects of the disruption in the global wheat market on Nigeria’s wheat value chain. The analysts made the call in a published review on the global wheat market following the war between the two top wheat-exporting […]

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