Economy

America's business leaders are growing more worried that the United States will enter a recession by the end of 2020. Their primary fear- protectionist trade policy.

US economy set for recession in 2020 – survey

President Donald Trump’s re-election hopes in 2020 are in jeopardy as a business economic survey released Monday showed that the odds of a US recession by next year are on the upswing, with mounting protectionism continuing to pose the greatest economic threat.

SEC’s appointment of Mutiu Sunmonu as Oando interim chief lacks due process

The announcement by the Securities and Exchange Commission (SEC) on Sunday June 2, 2019, on the alleged appointment of Mr. Mutiu Olaniyi Adio Sunmonu, CON, to head an Interim Management Team at Oando may have been executed without recourse to due process.

Godwin Emefiele: Central bank will sustain unconventional policies to boost economic growth

The Governor, Central Bank of Nigeria, CBN, Mr Godwin Emefiele, yesterday said that the apex bank will sustain its use of unconventional monetary policy to boost economic growth and enhance price stability.

Godwin Emefiele: Smuggling, others hinder economic policies

The CBN governor, Dr Godwin Emefiele, has identified smuggling and dumping of goods as the greatest challenges hindering the success of Nigeria’s economic policies.
National Bureau of Statistics NBS

NBS: Nigeria’s GDP up by 2.01% in Q1

The National Bureau of Statistics (NBS), said the nation’s Gross Domestic Product (GDP) grew by 2.01 per cent (year-on-year) in real terms in the first quarter of 2019.

Former central bank director lauds federal government’s plan to charge VAT on online transactions

Dr Titus Okunronmu, a former Director, Budgetary Department, Central Bank of Nigeria, has commended the Federal Government for its plan to collect Value Added Taxes (VAT) on online Business Transactions.

Niger to partner Bangladesh on rice farming, production

Niger state Commissioner for Investment, Commerce and Industry, Alhaji Mudi Mohammed, has disclosed that the state is going into partnership with Bangladesh on rice farming and production.

US risks recession as trade tensions heightens

U.S.-China trade war has boosted the risk of a U.S. recession, say a strong majority of economists polled by Reuters, who now put the chances of that happening in the next two years at 40 per cent.

Report: Nigeria’s rising debt servicing cost unsettles investors

The cost of servicing government debt in Nigeria is dampening foreign investors’ appetite to inject capital into the country.
Zainab Ahmed

Federal, states, local governments share N617.566 billion for March

A total of N617.566 billion has been distributed as Federal Allocation for the month of March, 2019 among the Federal Government, State Governments and Local Government Councils.

IMF: Nigeria, South Africa dragging Sub-Saharan Africa’s economy down

The International Monetary Fund (IMF) has said that Nigeria and South Africa will continue to draw back the economic growth of the rest of Sub-Saharan Africa if steps are not taken to address the policy uncertainties holding back growth in the two countries.
Joseph Nnanna

CBN: Governors raised false alarm on recession

The Central Bank of Nigeria (CBN) has dismissed the alarm raised by state governors that the economy might relapse into recession.
Abdul'aziz Yari

Governor Yari predicts another recession in 2020

Chairman of the Nigeria Governors’ Forum (NGF) and Governor of Zamfara State, Abdulaziz Yari, has warned that Nigeria could be heading into another round of recession.

Economist hails FIRS over cost-cutting reforms

A seasoned economist and retired director in the federal civil service, Dr. Aina Iluyomade, has urged the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, to sustain the agency’s cost-cutting reforms in order to boost revenue and enable the federal government meet the 2019 budget expectations.
Terence McCulley

US agency commends Nigeria’s economic policies

The United States Nigeria Council (USNC) has expressed satisfaction that the positive economic developments taking place in Nigeria would encourage investors.

NBS: Inflation rate drops to 11.25% in March

The National Bureau of Statistics on Tuesday released the Consumer Price Index, which measures inflation with the index dropping to 11.25 per cent (year-on-year) in March 2019.
National Bureau of Statistics NBS

Inflation drops again to 11.25% in March 2019

National Bureau of Statistics (NBS) says consumer price index, (CPI) which measures inflation increased by 11.25 per cent (year-on-year) in March 2019.

NBS: Lagos has highest foreign debt profile, Yobe least

The National Bureau of Statistics said Nigeria’s foreign debt stood at 25.27 billion US dollars as at 31st December, 2018.

Recent Stories

Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), has again accused President Muhammadu Buhari of clamping down on the judiciary.

Tribunal: I have not been certified – Atiku Abubakar’s data analyst

Petitioners’ Witness 60, Joseph Gbenga, called by Peoples Democratic Party and its presidential candidate, Alhaji Atiku Abubakar, as an expert witness admitted before the Presidential Election Petitioner Tribunal, on Friday, that he had not been certified.
Justice Darius Khobo of Kaduna State High Court, on Thursday, adjourned hearing in the application for permission to travel to India for medical attention filed by Ibrahim El-Zakzaky and his wife, Zinat, to July 29.

Presidency: Court will decide Ibraheem El Zakzaky’s fate

The Presidency has enjoined El-Zakzaky-led Shiite members to desist from needless violent street protests and await the decision of the court in Kaduna where their leader is currently being tried.

Governor Masari pushes for collective dialogue with bandits in North-West

Gov. Aminu Masari of Katsina State says, for dialogue and amnesty programme for cattle rustlers and bandits in the Northwest to succeed, it must involve all state governments in the zone.

Tailor arrested over alleged N1.48 million fraud

A 47-year-old tailor, Popoola Abolade, was on Friday brought before a Yaba Magistrates’ Court in Lagos, for allegedly defrauding a company of N1.48 million.
All Progressives Congress (APC) Nigeria

Kogi guber: APC stakeholders drag NWC to court

The All Progressives Congress (APC) stakeholders Kogi State chapter, have taken legal action against the party’s National Working Committee (NWC) over the indirect mode of primaries adopted by the national leadership for the election of candidates for the November 16 Kogi State governorship poll.