Economy

CBN: PMI stands at 61.1 index points as at December 2019

The Central Bank of Nigeria (CBN) said the Manufacturing Purchasing Managers’ Index (PMI) stood at 61.1 index points as at December 2018, indicating an expansion in the manufacturing sector for 21 consecutive months.

Audu Ogbeh: No politician can fix economic problems soon

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has said given the extent of damage already inflicted on the economy by past administrations, no politician currently vying for the seat of power has what it takes to return the economy on the path of growth within a short period.

IMF: Lagos to grow $136 billion GDP by 4 per cent in 2019

With its Gross Domestic Product (GDP) currently standing at $136 billion, Lagos economy will record four per cent growth in 2019 while the national economy will grow by 2.8 per cent, the International Monetary Fund (IMF) has predicted.
Abdullahi Attah

Abdullahi Attah: FCT-IRS generates N58 billion in 2018

Abdullahi Attah, Executive Chairman, Federal Capital Territory Internal Revenue Service (FCT-IRS), has disclosed that the agency has generated N59 billion from January to November 2018 and hoped to generate five to six billion naira in December, just as it has projected N130 billion revenue for 2019.
Nigeria’s Minister of Finance, Zainab Ahmed on Wednesday debunked claims that the Federal Government was planning to reduce the number of children that a mother could have in Nigeria.

2019 Budget: Federal government to Release New Set Of Taxes, Excise Duties

Zainab Ahmed, Minister of Finance, said on Thursday that the Federal Government will be releasing new revenue initiatives which will include a new set of taxes and excise duties.

NBS: Nigeria’s unemployment rate rises to 23.1 percent

Nigeria’s unemployment rate increased from 18.8 per cent in the third quarter of 2017 to 23.1 per cent in in the third quarter of 2018, the National Bureau of Statistics (NBS) has said.

Federal government mulls ban of maize importation

Minister of Agriculture and Rural Development, Chief Audu Ogbeh, stated this recently, when the National Assembly Joint Committee on Agriculture visited the ministry for its constitutional oversight function, in Abuja.
Former President Olusegun Obasanjo has listed what Nigeria should do to have access to $12 trillion “dormant funds”.

Olusegun Obasanjo: How Nigeria can access Africa’s $12 trillion

Former President Olusegun Obasanjo has listed what Nigeria should do to have access to $12 trillion “dormant funds”.

Higher food prices push inflation to 11.28%

The consumer price index (CPI) which measures inflation increased to 11.28 percent (year-on-year) in November compared to 11.26 percent in the preceding month, according to the National Bureau of Statistics (NBS).

Egypt asks World Bank, IMF to include informal sector in GDP

Egypt’s Central Bank wants the World Bank and International Monetary Fund to include the country’s informal sector in their gross domestic product figures.

NBS: Capital importation decreases to $2.85 billion in Q3

The National Bureau of Statistics (NBS) says the total value of capital importation into Nigeria reduced to $2.855 billion in the third quarter.

Moody’s warns Nigeria still exposed to economic shocks

One of the leading global rating agencies, Moody’s Investors Service, has said Nigeria’s credit profile, at ‘B2 stable’ is constrained by the country’s continued exposure to shocks because of government’s inability to expand non-oil revenue base sufficiently.
IMF First Deputy Managing Director David Lipton

IMF: ‘Storm clouds’ gathering over global economy

One of the International Monetary Fund’s top officials warned on Tuesday that `storm clouds’ were gathering over the global economy.

NBS: Nigeria’s economy grew 1.81% in Q3, driven by non-oil sector

National Bureau of Statistics (NBS) says Nigeria’s economy grew 1.81 percent in the third quarter of 2018 from a year earlier
Tito Mboweni

South Africa exits recession ahead of 2019 polls

South Africa broke free of recession on Tuesday when it reported GDP growth of 2.2 per cent for the third quarter, the statistics authority said, marking a positive economic trajectory ahead of elections.

Godwin Emefiele: Nigeria has achieved food imports reduction, saved $21 billion in 34 months

The Central Bank Governor, Godwin Emefiele, has said that Nigeria’s monthly food import bill fell from $665.4m in January 2015 to $160.4m as of October 2018.
Nick O'Donohoe

UK DFI to invest $1.2 billion in Nigeria

CDC Group Plc, The United Kingdom’s (UK) development financing institution (DFI), says it may invest up to $1.2 billion in Nigeria in post-brexit drive.

Federal government awards exploration contracts to 10 mining firms

Abubakar Bwari, the minister of mining and steel development, said the move is part of the country’s efforts to develop the mining sector.

Recent Stories

(FILES) In this file photo taken on December 15, 2018 a French riot police officer aims at protesters wearing yellow vests (gilets jaunes) with a non-lethal hand-held weapon (LBD40) during a demonstration against rising costs of living blamed on high taxes on the Champs-Elysees in Paris. – The number of serious injuries caused by non-lethal hand-held weapons (LBD 40) harbours anger and mistrust towards the French government and the police, who have had to call its forces to be more cautious. (Photo by Valery HACHE / AFP)

French police under fire as ‘yellow vests’ casualty toll mounts

Twenty years ago Jean-Marc Michaud was a paratrooper who proudly marched with the army down the Champs-Elysees avenue in Paris on France’s national holiday.
Atiku Abubakar

Atiku Abubakar asks federal government to show evidence he benefitted from N156 million slush...

The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has challenged the Federal Government to show evidence that he benefitted from the N156m slush fund that allegedly led to the collapse of the defunct Platinum Habib Bank.
Kano Pillars gaffer Ibrahim Musa

Ibrahim Musa returns as Kano Pillars’ technical adviser

The club’s Team Manager Kabiru Baleria was installed as the acting technical adviser and he was in charge of the team’s last two Nigeria Professional Football League (NPFL) matches against Heartland and El Kanemi Warriors respectively.

NYSC: 11,000 Corps members undergoing INEC training in Kano

No fewer than 11,000 Corps members in Kano state are currently undergoing training organised by the Independent National Electoral Commission (INEC) in the state.
Vice President Yemi Osinbajo

VP Osinbajo: Nigerians need honest president like Muhammadu Buhari

Vice President, Yemi Osinbajo, has declared that the country needs a sincere and honest President like Muhammadu Buhari to lead the country.