Power gulps 40% of our production costs – Manufacturers
The Chairman, Board of Directors, Manufacturers Power Development Company, Ibrahim Usman, speaks on how unstable power supply is adversely affecting the manufacturing…
Economy
Nigeria, others face severe food crisis amid Ukraine war – Report
Nigeria and 44 other countries around the world are severely exposed to the Ukraine war-induced food crisis, a study by Boston Consulting…
Cost of 12.5kg cooking gas rises to N9,400
The cost of cooking gas has become the latest inflation news to hit the spotlight, after the rise of the Consumer Price…
Commodity price surge to become global problem – World Bank
The World Bank on Monday said that recent commodity price shocks, particularly in food and energy, are likely to be felt by…
Experts warn Nigeria as World Bank predicts global recession
Economic and financial experts have warned that Nigeria could face serious economic consequences if the global economy contracts into a recession, as…
CBN loans to farmers hit N1tn amid high default rate
The total amount disbursed under the Anchor Borrowers Programme of the CBN rose to N1.01tn as of the end of April. Figures…
Insecurity, naira devaluation drive wheat imports to N1.3tn
Importation of durum or pasta wheat into Nigeria has continued to skyrocket, rising from N730.9 billion in 2020 to N1.295 trillion in…
Food prices surge by 42% in 12 months –NBS
Selected food prices recorded an increase of 42 per cent in one year, figures by the National Bureau of Statistics have shown.…
CBN raises interest rate to 13%
The Central Bank of Nigeria on Tuesday announced that it has raised the interest rate to 13 per cent. CBN Governor, Godwin…
Nigeria’s GDP rose by 3.11% in Q1 2022 – NBS
The National Bureau of Statistics on Monday revealed that Nigeria’s Gross Domestic Product rose by 3.11 per cent in the first quarter…
IMF warns Nigeria to fix weak labour market
The International Monetary Fund has warned Nigeria and other emerging economies to promptly repair their weak labour markets and severe schooling disruptions…
Forex inflow falls by 37% in one month -CBN
The foreign exchange inflows into the country fell by 36.7 per cent in one month to $4.36bn in January, figures obtained from…