Category: Economy

With Nigeria’s fiscal stability at a breaking point and the 2023 budget dismissed as unimplementable, Collins Olayinka and Joseph Chibueze write that the new Minister of Finance, Wale Edun, has his job in the next one year clearly cut out. For Nigerians and stakeholders in the financial space, the main task before Wale Edun as […]

With Nigeria’s fiscal stability at a breaking point and the 2023 budget dismissed as unimplementable, Collins Olayinka and Joseph Chibueze write that the new Minister of Finance, Wale Edun, has his job in the next one year clearly cut out. For Nigerians and stakeholders in the financial space, the main task before Wale Edun as […]

• Five banks hold N11.8 trillion govt securities• Economic distress real concern, say experts • As Nigeria, Kenya show signs of replicating Ghana’s path • Lenders urged to restrict NPL to less than 10% • ‘Concerns about default are tenable, debt-to-revenue ratio is rising’ As African governments fight to stave off debt distress, experts have […]

NSE trading floor Photo: Femi Adebesin-Kuti Lingering foreign exchange crisis, inflation, insecurity, high cost of operations coupled with uncertainty, and fuel subsidy crisis have continued to take a toll on the operations of firms listed on the Nigerian Exchange Limited (NGX), triggering a gale of delisting. Indeed, since the 2007-2008 financial crisis, the Nigerian economy […]

Nigeria’s headline inflation rate accelerated for the sixth consecutive time to 22.79 percent in June 2023, according to data by the National Bureau of Statistics released Monday. The inflation rate in Africa’s biggest economy rose to a new 17-year high of 22.79 percent in June 2023 from 22.41 percent in the previous month. The NBS […]

The Chief Executive Officer of the Centre for Promotion of Private Enterprises (CPPE), Dr. Muda Yusuf, has charged the Central Bank of Nigeria (CBN) to put measures in place to check high market volatility that has trailed official foreign exchange (FX) trading since June 14, when the current model was adopted. The caution comes as […]

• GDP growth slows to 2.3 percent in first quarter • Growth claim not real, economists push back • Manufacturing not affected by interest rate hike, Ife claims • Global shocks weigh heavily on African economies, report insists Yesterday was a tough day for the economy with the National Bureau of Statistics (NBS) confirming slower […]

• Fault tax increase, claim all sectors bleeding seriously The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Centre for the Promotion of Private Enterprise (CPPE) have lamented the deplorable state of the economy, stressing that virtually all the sectors are seriously struggling to remain afloat. President of the Nigerian […]

•Experts want agency to focus on development agenda With calls on the National Information and Technology Development Agency (NITDA) to focus more on developmental issues, stakeholders in the sector have said that passing the pending NITDA Bill into law is a recipe that would engender regulatory and compliance hurdles for businesses in the digital economy. […]

Photo: Samuel Corum/Getty Images/AFP $4.7 billion needed to bridge credit gap Multiple economic shocks in recent years, amid a slow rise in per capita income in more than three decades, have put developing economies in real danger if urgent steps are not taken, the managing director of International Monetary Fund (IMF), Kristalina Georgieva, has warned. […]