CBN forex policy on 41 items in Nigeria’s economic interest – Emefiele

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says the bank’s decision to restrict access to the foreign exchange official window for the importation of 41 items is in the best interest of the nation’s economy. Emefiele, who made the remarks in his keynote address while declaring open the 26th Seminar of Financial […]

‘Vibrant commodities exchange key to Nigreria’s economic devt’

The Securities and Exchange Commission (SEC) has said that a more organized Commodities Exchange market in the country will enhance efficiency and lead to economic growth and development. The Ag. Director General of the SEC, Ms. Mary Uduk, said this when she received members of the Commodities Trading Ecosystem Implementation Committee in her office in […]

Nigeria’s economic recovery drive gaining traction – Udoma

Nigeria’s Minister of Budget and National Planning, Senator Udoma Udo Udoma on Thursday told the global community that sundry economic reform initiatives of the President Muhammadu Buhari-led administration to grow the nation’s economy, particularly the implementation of the Economic Recovery and Growth Plan (ERGP), were achieving the desired results. Udoma, in his remarks during the […]

Again, IMF revises Nigeria’s growth projection to 1.9%

The International Monetary Fund (IMF) on Tuesday revised further down its earlier forecast on Nigeria’s 2.1 percent growth rate to 1.9 percent on the grounds that the country’s economy is doing poorly. The Deputy Director at the Research Department of the multilateral financial institution, Gian Maria Milesi-Ferretti, disclosed this while addressing journalists on the findings […]

Nigeria, South Africa, Angola impeding Africa’s economic growth-IMF

The International Monetary Fund (IMF) has said that Nigeria, South Africa and Angola the three largest economies in Africa are impeding the continent’s economic growth. The Fund, therefore, called on the three countries to ensure solid economic footing in order to accelerate the continent’s economic growth. The IMF Chief Economist, Mr Maurice Obstfeld, who gave […]

FSDH analysts caution FG on imminent debt crisis

Analysts at FSDH Research, one of the nation’s financial markets research and consulting entity, has charged the Federal Government to implement policies that will grow and diversify the the nation’s revenue base in order to avert a debt crisis. The research firm, in its report obtained on Thursday, noted that government was spending too much […]

FG restates commitment to economic diversification drive

The Minister of Communications, Adebayo Shittu, has said that the Federal Government will continue to formulate policies that will promote the diversification of the nation’s economic base in order to ensure inclusive growth. Shittu made this remarks at the opening ceremony at the 15th International Telecommunication Union (ITU) Resolution 609 Consultation meeting and Radio Navigation […]

Huge oil imports: India facing “economic crisis” – Minister

India is facing an “economic crisis” due to its huge oil imports, media reported Transport Minister Nitin Gadkari as saying on Thursday. He said it ahead of a meeting of key ministers to discuss the falling rupee and the nation’s widening trade deficit. India, the world’s third-biggest oil importer, depends on overseas markets to meet […]

World Bank cuts Africa’s growth projection to 2.7% in 2018

The World Bank has cut its growth forecast for sub-Saharan Africa in 2018 from 3.1 per cent to 2.7 per cent. This represents a slight increase from 2.3 per cent in 2017. The World Bank in its October edition of the African Pulse, which is a bi-annual analysis of the state of African economies, stated […]

Nigeria ahead in SDGs implementation – Presidency

Nigeria is currently ahead of its target in the implementation of the Sustainable Development Goals (SDGs), the Senior Special Assistant to the President on SDGs, Mrs Adejoke Orelope-Adefulire, has said. Orelope-Adefulire told a correspondent of the News Agency of Nigeria (NAN) in New York that Nigeria was making a lot of progress in the implementation […]