Nigeria will need 15 years to transform economy – World Bank VP
The World Bank says that Nigeria must sustain its current economic reforms over the next 10 to 15 years to position itself as a leading global economic power, not only in sub-Saharan Africa but worldwide.
Govt’ll clampdown on traders inflating commodity prices — FG
“While the FCCPC cannot directly regulate prices, the Commission will utilise its existing legal framework to enforce fair competition and consumer protection provisions.”
Nigeria economy moving, Tinubu’s policies slowing down food inflation – Edun
The Economic Team of President Bola Ahmed Tinubu is here to showcase the progress so far of his bold, courageous and strategic reforms of the Nigerian economy in order to get it stabilise and get investment in to get it growing again.”
Don’t worry, we’ll bring inflation down – Tinubu tells Nigerians
“Don’t worry about that. Yes, we know we have the challenge of inflation – it’s okay, we will bring it down. We are reengineering our revenue, it is getting better, and we are taking our sovereignty and respect back around the world – not that we have to go there and hire them to do the job for us, we are doing it ourselves.”
NSIA records N1.2 trn income
“Total Comprehensive Income closed at ₦1.18 trillion for 2023, a growth of 1,122% relative to ₦96.96 billion in 2022.”
Those expecting Naira to be N400 to Dollar living in dream world – Moghalu
“Those who want the Naira to be N400 to the $ are living in a dream world. Even discounting for the negative impact of speculative attacks on the value of the Naira, the exchange rate will (and should) reflect its market value in reality, not the artificiality that the central bank sought to maintain to please economic illiterates in political power at the time.”
Dump your dollars to avoid tears, Naira’ll appreciate – Presidency warns
“With backlog FX settled, Naira is set to appreciate further, faster. Currency speculators should quickly dump their stock of dollars to avoid sorrows and tears.”
CBN holds 2nd MPC under Cardoso next Monday, Tuesday
At the first meeting of the committee under the new administration, the Monetary Policy Rate (MPR) was raised by 400 basis points from 18.75 percent to N22.75 percent.
CBN has cleared another $400 million of valid FX backlog — Cardoso
“We are committed to doing that and I can tell you that just today, we paid out $0.4 billion to those that were identified, and we are committed to continuing doing so in one form or the other to those genuinely identified and proven cases.”
Hardship: Allow importation of food for Nigerians, TUC tells FG
“Importing food abroad at this point will help reduce the hyper-inflation of food in the country. FG should allow the importation of food items for Nigerian consumption within the next two weeks.”
Nigeria took right decisions in economic reforms — Afreximbank chief, Oramah
“Freeing the market is the right thing to do. And the reason we’re where we are is that something that I thought we had done before we already freed it was reintroduced. The control was reintroduced and that is what we now have to find our way out of.”
