Nigeria to lose 123.4% revenue in 2023 – World Bank
The World Bank has projected a 123.4% deficit from the country’s revenue in 2023 as a result of debt servicing. The…
Economy
Oil export: Nigeria’s Q3 foreign trade drops to N11.6trn
Nigeria recorded a total foreign trade of N11.59 trillion in the third quarter of 2022, representing a 9.7% decline compared to N12.84…
Digital economy: Nigeria, Vietnam deepen bilateral relations
In a determined effort to deepen the long-standing bilateral relations between Nigeria and Vietnam, both countries plan to work together more, particularly…
Nigeria’s free trade zones attract $46.4bn investment
Nigeria’s free trade zones have attracted more than $46.6 billion in investment into the country’s economy. According to the News Agency…
Buhari justifies cashless economy policy
The President, Major General Muhammadu Buhari (retd.), has reiterated the need for a cashless economy in Nigeria. According to The Nation, Buhari…
Inflation: CBN raises interest rate to 16.5%
The Monetary Policy Committee of the Central Bank of Nigeria have voted to increase the benchmark interest rate by 100 basis points…
Inflation: NBCC raises concerns over excise duty increment
The Nigeria-British Chamber of Commerce has warned that the proposed increment in the excise duty by the federal government will lead to…
World economy needs Nigeria – IMO
The Secretary-General of the International Maritime Organisation, Kitack Lim, has reiterated the importance of Nigeria to the growth of the world’s economy. This…
Recession: Experts advocate effective fiscal-monetary policy
Some economists in the North-East have urged the Federal Government to formulate effective fiscal and monetary policies to prevent Nigeria from sliding…
UK economy shrinks by 0.2%, recession looms
The United Kingdom appears to be heading into recession after the latest official figures showed the economy shrank between July and September.…
CBN’s plan to redesign naira purely political- Obaseki
Edo State Governor, Godwin Obaseki, has criticized the plan to redesign naira notes, asserting that it is solely a political initiative without…
Naira fall’ll worsen Nigeria’s food, energy crisis — W’Bank
The World Bank has warned that the depreciating value of the Nigerian naira and currencies of most developing economies are driving up…