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Naira falls N777 against dollar after CBN announcement
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Nigeria’s gas revolution will lift West Africa’s energy

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Tag: Recession

UK raises financial requirements for international students
Economy

UK economy escaped recession Q4 2022

  Information from the Office for National Statistics, has revealed that the United Kingdom’s economy narrowly avoided recession in the fourth quarter despite soaring inflation. According to AFP, Gross domestic product grew 0.3 percent, as the services sector offset poor performance by construction and manufacturing. GDP fell 0.5 percent in December due to extensive strikes, […]

A picture depicting a decline in currency, recession
Business

How UK narrowly escaped recession in 2022 – Report

The economy of the United Kingdom narrowly escaped recession at the last quarter of 2022. This was reported by Reuters according to the figures from the Office for National Statistics that was disclosed on Friday. The figures showed zero growth from October to December, 2022. It managed to escape the technical definition of recession. Reuters […]

Naira redesign: CBN has my approval, Buhari clarifies
News

Buhari rescued Nigeria from recession twice – Zainab Ahmed

  The Finance Minister, Zainab Ahmed, said that the regime of the President, Major General Muhammadu Buhari (retd), rescued Nigeria from two recessions and has placed the country on track for growth and development. Ahmed said this during her interview session on Wednesday with Bloomberg TV at the World Economic Forum in Davos, Switzerland. The […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
featured

World Bank lowers economic outlook over predicted recession

The World Bank lowered its economic outlook on Tuesday as a result of a “perilous” near-recession experience. In contrast to the 3% growth it forecast in June, the BBC now projects that the global economy will expand by just 1.7% this year. The pandemic’s effects and Russia’s invasion of Ukraine are two things that the […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
Economy

Global economy vulnerable to recession in 2023 – World Bank

The World Bank has warned that “even a moderate hit” could tip the global economy into recession in 2023.   The global financial institution made this known it’s recently published 2022 review, saying that the global economy is in its steepest slowdown since 1970 and that “consumer confidence (is) already suffering a much sharper decline […]

Economy featured

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 into recession. The experts including academics and financial analysts said the measure was imperative for building a vibrant economy and sustaining the gains recorded in the agriculture sector which enabled the country to […]

World Bank punishes Nigerian firms, individuals for corruption
Economy

Prepare for recession, World bank warns CBN

The World Bank on Thursday issued a warning to the Central Bank of Nigeria and other central bank across the world that they should prepare for a recession following reoccurring increase of interest rates. It would be recalled that the CBN during its last Monetary Policy Committee meeting in July in Abuja increased the benchmark […]

Flights to South-South most expensive - NBS
Aviation

Why aviation industry remains in recession – Union

The National Union of Air Transport Employees on Sunday said the recent hike in airfares coupled with the impact of the Russia/Ukraine war and the COVID-19 outbreak had delayed the exit of Nigeria’s aviation sector from recession. NUATE President, Ben Nnabue, who disclosed this in his 2022 May Day speech to workers in the sector, […]