The IMF and World Bank Group announced Thursday that their annual fall meetings will be mostly virtual due to the coronavirus pandemic.
South Africa’s manufacturing output fell 49.4% year on year in April during a nationwide lockdown, after contracting by a revised 5.5% in March, the statistics agency said on Thursday.
Morocco’s economy is expected to contract by 13.8% in the second quarter under the impact of the coronavirus lockdown, the state planning agency said on Sunday.
The Federal Government has inaugurated the Joint Planning Committee (JPC) for the 26th Nigerian Economic Summit (NES#26) scheduled to hold in October 2020.
South Africa’s current account balance swung to a surplus of 1.3% of gross domestic product (GDP) in the first quarter of 2020 from a deficit of 1.3% of GDP in the previous three months, central bank data showed on Thursday.
The Presidential Economic Advisory Council yesterday warned that the smooth implementation of the N2.3trn stimulus package could be hampered if the ensuing problems were left unattended to.
The coronavirus pandemic could set back incomes in sub-Saharan Africa by a decade as weak oil prices, a tourism standstill and business lockdowns shrink the region’s economy 3.2 percent in 2020, an IMF official said Monday.
“The Myanmar economy is being impacted by the outbreak of COVID-19 through a sharp decline in tourism and remittances and supply chain disruptions,” Mitsuhiro Furusawa, IMF deputy managing director, said in a statement.
The collapse in crude oil prices, coupled with the COVID-19 pandemic, is expected to “plunge the Nigerian economy into a severe recession, the worst since the 1980s”, the World Bank said on Thursday.
Prof. Hussaini Ibrahim, the Director-General, Raw Materials and Research Development Council (RMRDC), says the council is working hard to achieve a huge reduction in the importation of sugar in the country.
Mr Olamilekan Adegbite, Minister of Mines and Steel Development, says the Federal Government has designated seven of the country’s strategic minerals to unlock the enormous potential in the mining sector.
Dr Hassan Mahmud, Director, Monetary Policy Department, Central Bank of Nigeria (CBN), on Tuesday advised West African countries affected by COVID-19 pandemic to look inward and use their domestic resources to revamp their economies.
The ACUF Board Chairman, Dr Chiwuike Uba, who stated this in a statement on Tuesday, commended the Federal Government for conceptualising a policy response needed to jumpstart Nigeria’s economy after COVID-19 pandemic.
The pandemic affected the price of oil, the mainstay of Nigeria’s revenue. This led to the reworking of the 2020 budget by the executive arm of government to reflect the current economic realities.
Huawei will stop making its flagship Kirin chipsets next month, financial magazine Caixin said on Saturday, as the impact of U.S. pressure on the Chinese tech giant grows. U.S. pressure on Huawei’s suppliers has made it impossible for the company’s HiSilicon chip division to keep making the chipsets, key components for mobile phone, Richard Yu, CEO of Huawei’s Consumer Business Unit was quoted as saying at the launch of the company’s new Mate 40 handset.
The Federal House of Representatives, in it’s oversight function, has uncovered many power projects, put together at the cost of N156 billion, that are being abandoned or are yet to be completed by the Transmission Company of Nigeria (TCN).
The Biafra Nations Youth League, BNYL, on Saturday, warned Miyetti Allah Kautal Haure not to allow the Fulani Security group to operate in the Southeast and Southsouth to avoid bloody confrontation by both groups.
Barely a week after President Muhammadu Buhari’s closest ally and nephew, Malam Mamman Daura, spoke against zoning of presidency ahead of the 2023 election, Kaduna Governor Nasir El-Rufa’i has said the next President should come from the South.
Mr Ibrahim Odumboni, Acting Managing Director, Lagos State Waste Management Authority (LAWMA), said the authority arrested 13 cart pushers and seized 29 carts for violating environmental laws of the state.
Manchester United are reportedly weighing up a move to bring Kasper Schmeichel, the son of club legend Peter, to Old Trafford this summer according to reports.
Students in exit classes in public secondary schools in Nsukka, Enugu State, were yet to resume classes as only teachers were present in schools visited, newsmen reports.
An advocacy group, South-East, South-South Professionals of Nigeria (SESSPN) has called on President Muhammadu Buhari-led administration to restructure the country, review the present devolution of powers and whittle down the centre to allow for competition and calculated economic growth in accordance with the needs of the different regions.
Hotels in Karu Local Government Area of Nasarawa State have decried low patronage caused the advent of Coronavirus (COVID-19) in the country.
Nearly 10 years after Fenway Sports Group took over Liverpool, owner John W. Henry said that he could not be prouder of the club after they won their first top flight league title for 30 years.