Inflation hits 16.82%, surpasses IMF 2022 projection
The Consumer Price Index rose to 16.82 per cent in April from 15.92 per cent in March, latest figures from the National…
Economy
Nigeria spends 86% of revenue on debt servicing, South Africa pays 20%
Nigeria spent 86 per cent of its revenue on servicing debt in 2021, but South Africa spent only 20 per cent of…
Commodity prices’ll remain high in Nigeria, others – World Bank
The World Bank has said that the war in Ukraine has dealt a major shock to commodity markets, altering global patterns of…
Workers in formal sector earn N159tn in four years – NBS
Employees in Nigeria’s formal sector earned N159.01tn from 2018 to 2021, according to data from the National Bureau of Statistics. The statistics…
Nigeria, 10 ECOWAS countries in debt distress – Report
A new report by the Nigerian Economic Summit Group and the Open Society Initiative for West Africa has disclosed that Nigeria and…
Naira loses to dollar, closes at 419
The Naira on Monday depreciated at the Investors and Exporters window, exchanging at N419 to the dollar, a 0.48 per cent depreciation,…
Rising crude oil prices will worsen inflation, IMF warns
The International Monetary Fund has said rising oil prices may lead to high inflation and slow growth across the world. It stated…
Border reopening: Experts predict 60% rise in vehicle smuggling
Few days after the Federal Government announced the reopening of four land borders, stakeholders, including clearing agents and car dealers, have predicted…
Nigeria’s equities market to remain positive in 2022, say analysts
Parthian Securities’ analysts have predicted that the Nigerian equities market will remain positive due to the increased participation of domestic players in…
World Bank to review poverty index over inflation, others
The World Bank plans to revise the global poverty line from $1.90 to $2.15 due to increases in the costs of basic…
External reserves fall by $196m in eight days
Nigeria’s external reserves fell slightly by $196m in eight days to $39.62bn as of April 28, according to figures obtained from the…
Subsidy deductions hit states hard, govs owe salaries
State workers and pensioners on Sunday lamented they were carrying the burden of a cash crunch in the country with many state…