Inflation
Nigeria’s foreign reserves rise to $35.81 billion
Nigeria’s foreign reserves rose by $140.9m from $35.67bn as of September 1 to $35.81bn as of September 17, the latest figures from the Central Bank of Nigeria have shown.
Reps: Nigeria government underfunding Northeast commission
A House of Representatives committee, on Wednesday, said the Nigerian government’s funding for the North East Development Commission (NEDC) was grossly inadequate.
CBN: Inflation rate’ll hit 14.15 percent as deficit financing rises
Nigeria’s inflation rate which stood at 12.82 per cent in July may rise up to 14.15 per cent by the end of December 2020 as the Federal Government’s deficit rises due to current economic challenges in the country.
President Buhari: Farming is the answer for ‘able-bodied’ young Nigerians
President Muhammadu Buhari has reiterated that his administration is very keen on reviving the agriculture sector in order to meet local food demand; and diversify an economy that has been too reliant on crude oil proceeds.
Former MAN chairman kicks against electricity tariff increase
The former chairman, Manufacturers Association of Nigeria (MAN), Ogun Chapter, Mr Wale Adegbite, on Wednesday faulted the new increment in electricity tariff in the country.
Dollar buoyed by yields surge jump after Fed’s inflation shift
The dollar held gains against major currencies, on Friday, after the Federal Reserve’s aggressive new strategy to lift employment and increased tolerance for higher inflation pushed United States bond yields up.
South African rand dips before producer price data
South Africa’s rand was slightly weaker early on Thursday, ahead of the release of the producer price index (PPI) which will give more clues about inflation dynamics in Africa’s most industrialised economy.
Nigeria’s Q3, Q4 GDP to reflect further economic slowdown – presidency
Nigeria expects the third and fourth quarters to reflect the continued effects of a slowdown, after the economy contracted by 6.1% in the second quarter, the presidency said on Wednesday.
Britain inflation jumps in July
British inflation jumped unexpectedly last month to its highest rate since March, pushed up by clothing retailers refraining from their usual summer discounts.
Rising inflation: Experts urge central bank to stabilise exchange rate
Financial experts on Tuesday expressed concerns on the country’s rising inflation rate currently at 12.82 per cent, and called for stabilisation of the exchange rate.
NBS: Inflation hits 11 months high to 12.82% in July
Nigeria’s inflation rate rose year-on-year (YoY) by 0.26 percentage point to 12.82 percent in July this year from 12.56 percent in June. This represents the eleventh consecutive monthly rise in inflation rate since October 2019.
NBS: Nigerian annual inflation at 12.82% in July
Annual inflation in Nigeria stood at 12.82% in July, up from 12.56% in June, the National Bureau of Statistics said on Monday in a report.
Algeria economy rocked by one-two punch of coronavirus crisis
Currency depreciation, inflation, negative growth, businesses closed: Algeria's economy has been battered by the one-two punch of the coronavirus crisis and tumbling oil revenues.
Starved of dollars, Nigerian businesses struggle for survival
Around 80% of the materials that go into Lagos-based diaper and sanitary towel manufacturer Wemy’s products are imported. To buy them, Paul Odunaiya needs dollars, which he can no longer find.
NBS: Nigeria’s inflation rises to 12.56% in June
The consumer price index which measures inflation increased by 12.56 per cent (year-on-year) in June 2020, the National Bureau of Statistics disclosed this in its June CPI and inflation report on Friday.
South Africa’s rand firms as growth, vaccine hopes drive mood for risk
South Africa’s rand firmed in early trade on Wednesday ahead of consumer inflation data and as hopes of economic recovery increased global risk appetite.
CBN: Nigerians believe rising inflation’ll weaken economy
The CBN said the survey was conducted from May 18 to 27, 2020, with a sample size of 2,070 households randomly selected from 207 enumeration areas across the country and a response rate of 97.9 per cent.
Revised budget: Group urges Nigerian government to ensure high performance
An NGO, the Amaka Chiwuike Uba Foundation (ACUF), has urged the Federal Government to lay emphasis on credibility and high performance of the 2020 Revised Budget as a catalyst for infrastructure development.
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Britain reopens visa application centers in Nigeria
The United Kingdom High Commission has announced that its center’s across the country has reopened.
CACOVID: Looted palliatives awaiting distribution
Most of the looted palliatives in warehouses across the nation were awaiting distribution to over 2 million vulnerable households, the private sector-led Coalition Against COVID (CACOVID) has explained.
#EndSARS: Police parade two minors, four others for arson
Two minors and four other suspects were paraded on Monday by police in Ekiti State in connection with arson attacks on three police stations in the State.
#EndSARS: Ekiti panel receiving petitions ahead of November 2 sitting
The Ekiti State Judicial Panel of Inquiry on the Allegations of Human Rights Violations Against the Police, defunct SARS officers and other Persons has commenced its activities with a call on citizens of the State to start submitting petitions ahead of its November 2 inaugural sitting.
Britain asks Nigerian government to investigate Lekki shooting, bring culprits to book
The British High Commission in Nigeria has asked the Federal Government of Nigeria led by President Muhammadu Buhari to investigate all killings and incidents associated with the #EndSARS protests.
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NDLEA arrests 37 ‘drug peddlers’ in Oyo
The National Drug Law Enforcement Agency (NDLEA), said it has arrested 37 suspected drug peddlers in Oyo State in the 3rd quarter of the year 2020
Thomas Mueller’s form fuels calls for Germany recall
His latest eye-catching club performance has prompted fresh hopes of a Germany recall for Mueller, who was dropped by Joachim Loew from the national set-up in 2019 alongside Jerome Boateng and Mats Hummels.
Moscow to assist Zimbabwe in overcoming consequences of EU, US sanctions
Russia will enhance investment cooperation with Zimbabwe and promote the African country’s socio-economic development to help it overcome the consequences of U.S. and EU sanctions, an official said on Sunday.
#EndSARS: US condemns ‘excessive’ use of force by military in Nigeria
Amnesty International says at least 38 people, including 12 in the capital Lagos, were killed by the Nigerian army and police in a brutal crackdown on protesters Tuesday that drew international condemnation.
#EndSARS: Hoodlums, miscreants wreaking havoc in disguise – group
A group, the North-South Progressive Movement (NOSOP), has expressed concern over the hijack of the ongoing protest across the country by some hoodlums and miscreants masquerading as protesters.