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.
We’re worried by rising living costs, Niger, Kano protests – FG
“It is the issue of demand and supply and a lot of emphasis has been placed on increasing agricultural production, in particular.”
Why Naira is falling – Economist, Rewane
He said, “One is low supply – supply of dollars. When you have low dollars. Anytime the supply is short, the price increases.”
CBN FX reforms necessary for better Economy – Economist
“All of these corrections were necessary, and if the central bank can sustain this momentum, I think we will see a brighter economy, hopefully by the end of the year, but it’s not going to be a short-term remedy.”
Relocation: CBN headquarters currently overpopulated – Cardoso
“It is overpopulated. And with what we are doing right now, we are hoping that will also help in easing the issue of overpopulation, which it is.”
Audit reveals $2.4bn of $7bn FX claims not valid — Cardoso
He said, “And sadly, quite frankly, I think much of those have not been disputed to our satisfaction.”
IMF downgrades Nigeria’s 2024 economic growth forecast to 3%
The International Monetary Fund, IMF has downgraded its forecast for Nigeria’s 2024 economic growth to 3.0 per cent.
Naira under-valued in official, parallel forex markets – Bismarck Rewane
His words, “The naira is undervalued by 33.58 percent at the parallel market rate of N1,285 per dollar and 4.16 percent at the NAFEM rate of N890.54 percent.”
FG gets $2.25bn Afrexim Bank loan
The Federal Government has received a $2.25b foreign exchange support facility from the African Import-Export Bank.
Nigeria inflation rose to 28.20% in November – NBS
Nigeria’s annual inflation rose to 28.20% in November from 27.33% in October, the National Bureau of Statistics has said.
Nigeria lost $1.4bn in 8 years over CBN’s ban on 43 items – Cardoso
The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso Nigeria lost a total of $1.4bn in 8 years over CBN’s ban on 43 items.
