Economy

Kenya central bank

Kenya’s national debt hits 56.5 percent of GDP – central bank

Kenya’s Central Bank governor, Patrick Njoroge, says the national debt reached 56.5 percent of the Gross Domestic Product (GDP) in September 2018.
Asue Ighodalo

NESG: Power, education to drive Nigeria’s economic growth

The Nigerian Economic Summit Group (NESG), yesterday, presented its 2019 macroeconomic outlook for the year 2019.
There is high security in and around the Swiss ski resort of Davos as many of the world's political and corporate leaders gather this week. AFP

President Jair Bolsonaro sells ‘new Brazil’ to Davos elite

Skirting the first political scandal of his new presidency, far-right leader Jair Bolsonaro will tout a “new Brazil” when he addresses the world’s business elite in Davos on Tuesday.

IMF cuts Nigeria’s GDP growth projection to 2 percent

The International Monetary Fund (IMF) has cut Nigeria’s gross domestic product (GDP) projection for 2019 to 2% from the 2.3% it had predicted previously.

Lagos Chamber urges World Bank to review Ease of Doing Business indicators

The Lagos Chamber of Commerce and Industry (LCCI) said the World Bank needs to review the indicators for composition of the Ease of Doing Business Index to reflect the reality of each country.
Lagos . Nigeria

Sub-Saharan Africa’s growth to accelerate despite tighter global conditions – poll

Sub-Saharan Africa’s economies will cope with tighter global liquidity this year and grow faster than in 2018, albeit at a lacklustre rate compared to the commodity price boom heydays of a decade ago, a Reuters poll found.

NBS: Nigeria’s Inflation rate increases in December 2018

The National Bureau of Statistics, says the Consumer Price Index which measured inflation increased to 11.44 per cent (year-on-year) in December 2018 from 11.28 per cent recorded in November 2018.
Bauchi Governor Mohammed Abubakar

Bauchi government projects N15 billion IGR for 2019

The Bauchi State Board of Internal Revenue has projected N15 billion for the 2019 fiscal year, the Chairman, Mr Hussain Jibo, said on Wednesday.

NECA: Nigeria’s mounting debt signals danger for economy

Nigeria Employers’ Consultative Association says Nigeria’s increasing debt burden could have negative implications on developmental capacity of the economy.
A motorcyclist rides past a campaign poster for Nigeria’s incumbent president and candidate to his re-election for the ruling All Progressives Congress (APC) President Muhammadu Buhari, and Vice-President Yemi Osinbajo, at Ilupeju in Lagos, on January 4, 2019. PHOTO: PIUS UTOMI EKPEI / AFP

Nigeria misses out on emerging-market rally as vote nears

Emerging-market assets may be enjoying a strong start to the year, but one country missing out on the rally is Nigeria.

IMF: Nigeria’s economy to grow by 3.8% in 2019

Nigeria’s economy, and other sub-Saharan Africa countries, will be home to several of the world’s fastest-growing economies in 2019 according to the International Monetary Fund (IMF).
Nigeria's Budget Minister Udoma Udo Udoma speaks during the public presentation and breakdown of 2018 Appropriation Act in Abuja, Nigeria.

Minister: We are taking steps to grow the economy

The Minister of Budget and Planning, Senator Udo Udoma, has assured that the federal government is putting in place measures necessary to ensure that the economy grows rapidly, while maintaining fiscal sustainability.

Analysts predict spike in December inflation rate

As the National Bureau of Statistics (NBS) releases its December 2018 inflation figures this week, leading research firms in the country, FSDH Research and Financial Derivatives Company (FDC), said in their forecasts at the weekend that the nation’s inflation rate for December 2018 would increase.

Lagos economy records N50 billion cash transaction in December

The Lagos State Government Saturday disclosed that its economy recorded an unprecedented boost in the entertainment, hospitality and creative sectors in four weeks of the yuletide season.

World Bank projects 2.2% GDP growth for Nigeria in 2019

Nigeria’s real GDP growth will expand by 2.2 per cent in 2019, the World Bank has said in its annual Global Economic Prospects published on Wednesday, slightly upgrading the country’s projected growth rate from 2.1 per cent in June 2018.
Members of a US negotiation team leave a hotel for the second day of talks in Beijing on January 8, 2019. – The US delegation in Beijing includes officials from the Treasury, Commerce, Agriculture and Energy departments. The talks come a month after US President Donald Trump and his Chinese counterpart Xi Jinping agreed to suspend a planned tariff hike for three months to give negotiators space to reach an agreement and end a dispute that has roiled world markets. (Photo by GREG BAKER / AFP)

US official says China trade talks ‘went just fine’

The United States and China concluded on Wednesday three days of extended talks to resolve their trade war, with a member of the American delegation saying negotiations “went just fine”.

120,000 Kano rice farmers to benefit from Central bank’s anchor borrower programme

No fewer than 120, 000 rice farmers in Kano State would benefit from the Federal Government’s Anchor Borrower programme for this year’s dry season farming.
United Nations UN

UN: Nigeria’s 2.1 percent economic growth to drive West Africa’s 2019 forecast

Nigeria’s 2.1 per cent economic growth projection in 2019 is expected to drive the regional growth forecast of 2.9 per cent, the United Nations report has projected.

Recent Stories

JAMB: Man registers UTME 64 times to ‘ghost-write’ for 64 candidates

The Joint Admissions and Matriculation Board says it has caught someone it described as a “notorious cheat” who had registered for the UTME 64 times, with the intention of writing the examination for 64 candidates.

Police foil pro-Dasuki protest in Sokoto

Police have foiled a planned procession to demand the release of former National Security Adviser, Col. Sambo Dasuki (rtd) in Sokoto state.
Oil tankers pass through the Strait of Hormuz, December 21, 2018. REUTERS-Hamad I Mohammed

Any move by Iran to close Strait of Hormuz unacceptable – US official

Any move by Iran to close the strategic Strait of Hormuz in response to the United States ending oil waivers for purchases of Iranian oil would be unjustified and unacceptable, a senior administration official said on Monday.
Gas flares from an oil production platform at the Soroush oil fields in the Gulf, south of the capital Tehran [Raheb Homavandi-Reuters]

Iran denounces ‘illegal’ US sanctions as oil waivers end

Iran denounced US sanctions on its oil sector as "illegal" on Monday after the United States announced it will no longer grant sanctions exemptions to Iran's oil customers.

Court to hear alleged N2.8 million fraud case against Nnewi United chairman

The Federal High Court sitting in Awka will on May 30, 2019, begin hearing on the case of obtaining by false pretence involving the manager of Nnewi United football club of Nnewi, Mr. Olisa Onuchukwu.