Economy in rare credit squeeze as CBN continues with 20-year-high interest

MPR raised to 15.5 per cent, highest in 20 years CBN to debit commercial banks to effect new CRR Thursday Adonri: Increase creates opportunity for FG to mop up local funds Job losses to worsen, experts warn Nigerians lament soaring food prices ‘Address supply-side shocks to check inflation’ It was another audacious response from the […]

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Debt relief: If Buhari means what he told world leaders

President, Muhammadu Buhari (right); Minister of Foreign Affairs Geoffrey Onyeama; Chief of Staff Prof. Ibrahim Gambari, Permanent Representatives of Nigeria to UN Prof. Tijani Muhammad-Bande and Minister of Finance Hajia Zainab Ahmed, during the Opening of the 77th United Nations General Assembly in New York At the United Nations General Assembly (UNGA) in New York, […]

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How to rebound Nigeria’s economy – Experts

• Country’s Financial Situation Requires Exploration Of Alternative Revenue Sources — Faleke • Fiscal Condition Of Almost All States Unhealthy — Report • Focus On Manufacturing, Agric, Exportation To Rejig Economy — Economists • ‘With Funding, Contribution From Minerals Exploration May Surpass Oil Earnings’ Economists have said that Nigeria must begin to make deliberate efforts […]

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Investors lose N283b in August amid uncertainty, low purchasing power

A man exchanges Nigeria’s currency Naira for US dollars in Lagos, Nigeria. (Photo by Pius Utomi Ekpei / AFP) Analyst predicts gloomy outlook as uptick in fixed market persists Despite improved earnings and dividend announcements from listed companies, uncertainty in the global economy, coupled with prevailing macroeconomic challenges in the country, especially insecurity and low […]

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Osinbajo rallies APC governors on economy, ASUU strike

Vice-President, Yemi Osinbajo, on Tuesday, at the Presidential Villa, Abuja, received the All Progressives Congress (APC) governors. His spokesman, Laolu Akande, in a statement on Tuesday, said the governors were on a felicitation visit to the vice-president as he recovered from the leg surgery done in July. The vice president expressed his appreciation to the […]

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Investors warn against political activities that may destabilise stock market

As the 2023 election campaigns commence next month, stakeholders in the nation’s capital market have stressed the need for politicians to adopt issues-based and violence-free campaigns to enhance market stability and attract more inflow of capital into the equities market. The experts who believed that only peaceful polls could restore confidence in the market, sustain […]

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More Nigerians slide into poverty as inflation hits 19.6%

Defies interest rate hike, rattles analysts Surges to 19.6 per cent, highest since 2005 ‘Figures reflection of more scary future’ Okon: Civil servants most hit, purchasing power very weak Suspend telecoms, beverage tax, says Uwaleke ‘Reign in N19.7 trillion Ways & Means loan to FG’ Galloping inflation recipe for recession, higher unemployment, economists insist Nigeria’s […]

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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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