Economy

Akinwumi Adesina: Africa must trade smart by ensuring rapid growth

The president of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has said that with the rapidly changing world of trade and rising echoes of unilateralism, Africa must trade smartly, starting by ensuring rapid growth in intra-African trade.

NBS: Inflation down to 11.23% in June

Reports from the National Bureau of Statistics (NBS) said the Consumer Price Index (CPI) which measures inflation dropped further to 11.23 percent in June from the 11.61 percent recorded in May this year.
Nigeria Map

Don: Nigeria too poor to meet development expectations

Dr Terhemba Wuam, an Associate Professor of Economic History with Kaduna State University (KASU), says Nigeria is too poor to meet its developmental challenges.

Senator Saraki calls for ‘multi-dimensional approach’ in managing Nigeria’s economy

The Senate President, Dr Bukola Saraki, has called for a multi-dimensional approach in managing Nigeria’s economy.
Okechukwu Enelamah

Minister: President Buhari’s economic plan will create 3.7m jobs yearly

The Minister of Industry, Trade and Investment, Okechukwu Enelamah, on Wednesday said the Economic Growth and Recovery Plan (EGRP) is targeted towards creating an average of 3.7 million jobs yearly.

IMF warns trade tensions could disrupt global growth

The global economy is still expected to grow at a solid pace this year, but worsening trade confrontations pose serious risks to the outlook, the International Monetary Fund said Monday.

IMF: Nigeria’s inflation rate to rise in second half of 2018

The International Monetary Fund (IMF) says inflation rates will rise in the second half of 2018 as consumer spending increases and agricultural output drops.

IMF: Nigeria’s economic recovery still challenging

The International Monetary Fund (IMF) says Nigeria’s economic outlook for 2018 remains challenging as private sector lending remains low and foreign exchange inflows are mostly short-term.
Windhoek

Namibia to exit recession this year

The Bank of Namibia said on Friday in Windhoek that its gross domestic product (GDP) would be supported by a recovery across most sectors, particularly in manufacturing and mining.
Saudi Arabia Oil Economy

Saudi economy escapes recession in first quarter

Saudi Arabia’s economy pulled out of recession in the first quarter of 2018, thanks to rising oil prices and a surge in the non-crude sector, authorities said Sunday.
Benin Port

IMF: Benin’s GDP growth to rise to 6 pct this year

Benin’s economy is expected to grow 6 percent this year, up from 5.6 percent in 2017, as cotton production reaches record highs and the economy of neighbouring Nigeria strengthens, the International Monetary Fund said.

Federal government hails EIB’s investment in Nigeria

The Minister of State, Ministry of Budget and National Planning, Zainab Ahmed, has commended the European Investment Bank’s plan to invest between 800 million and one billion Euros in the Nigerian economy.

Economist: GDP growth not translating to improved quality of life

An Economist, Dr. Aminu Usman, says the growth in the country’s Gross Domestic Product (GDP) is not translating to improved quality of life of its citizens.

Iceland crowned as champs of economic World Cup

The World Cup has only just kicked off, but a surprise winner has already emerged: Iceland.

Nigeria’s inflation drops to 11.61 % in May

The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI), which measures inflation for May, decreased to 11.61 per cent (year-on-year) from 13.34 per cent recorded in April.

Ministry: New tax on alcohol, tobacco not targeted at local manufacturers

Nigeria’s newly increased tax on alcohol and tobacco is not targeted at local manufacturing industries, the country’s finance ministry has explained.

Senator Udoma: Nigeria wants improved private sector investment

The federal government on Thursday in Brussels, Belgium, called for improved private sector investment in Nigeria by European businesses, saying that the country’s investment climate is now very attractive and conducive.

Nigeria’s external trade rises to N7.211 trillion

Nigeria has recorded the first trade balance surplus in two years when it posted a trade balance in excess of N2.15 trillion in the first quarter of the year.

Recent Stories

Ahmed Musa

Super Eagles skipper announces birth of baby

Al-Nassr winger and Super Eagles captain Ahmed Musa has announced the birth of a baby boy to his family.
The Coordinator, Defence Media Operations, Maj.-Gen. John Enenche, disclosed this in a statement on Friday in Abuja.

DHQ: Released ‘repentant’ Boko Haram fighters were forcefully recruited

The military has shed more light on its controversial Operation Safe Corridor programme which has once again recently come under fire from the Nigerian public.

SSANU, NASU threaten to down tools over unresolved issues with federal government

The Non-Academic Staff Union of Educational and Associated Institutions (NASU) and Senior Staff Association of Nigerian Universities (SSANU) said they would proceed on strike over unresolved issues with the Federal Government immediately the universities reopen.
The Nigerian Agip Oil Company (NAOC) has denounced reports its facilities spewed crude oil into the Orashi River in Rivers State.

Agip: Rivers oil leakage not from our facility

The Nigerian Agip Oil Company (NAOC) has denounced reports its facilities spewed crude oil into the Orashi River in Rivers State.
Barcelona are set to make a €15 million (£14m-$18m) bid for Eric Garcia in the coming days after the defender turned down a contract extension with Manchester City.

Barcelona to make £14 million bid for Manchester City defender

Barcelona are set to make a €15 million (£14m/$18m) bid for Eric Garcia in the coming days after the defender turned down a contract extension with Manchester City.