VANGUARD ECONOMIC DISCOURSE: Interest, exchange rates, others sustain pressures on businesses, households — ASBON boss
By Emeka Anaeto, Business Editor Inflationary pressures coupled with foreign exchange volatility, and high interest rates have continued to strain businesses and households in Nigeria. Stating these at the backdrop of the upcoming Vanguard Economic Discourse, Dr. Femi Egbesola, President, Association of Small Business Owners of Nigeria (ASBON), added that amongst the key macroeconomic headwinds […]
How we’re diversifying economy from oil, gas- FG
President Muhammadu Buhari administration has been working hard to diversify the Nigerian economy from over-dependence on oil and gas. Mrs Evelyn Ngige, the Permanent Secretary, Federal Ministry of Industry, Trade and Investment, on Monday said this during the opening ceremony of the 14th meeting of the National Council on Industry, Trade and Investment in Bauchi. […]
IMF raises Nigeria’s economic growth forecast to 3.4%
*Cuts global growth forecast to 3.6%; inflation to remain high By Babajide Komolafe, Economy Editor The International Monetary Fund, IMF, has raised its forecast for Nigeria’s economic growth in 2022 to 3.4 per cent, citing increase in crude oil prices. However, the IMF reduced its projection for global growth to 3.6 per cent in both […]
System failure cost nation’s economy about N640m in 2 days
By Godfrey Bivbere Nigeria’s economy may have recorded about N640 million loss to the breakdown of the information technology system used by the Nigeria Customs Service, NCS, for cargo clearance at the ports. The platform used by the Customs is operated by Webb Fontaine contracted by the Federal Ministry of Finance. Stakeholders have posited that […]
CBN introduces 37 interventions to save economy
The Central Bank of Nigeria, CBN, has disclosed that it introduced no less than 37 intervention programmes to boost the economy of the country.
Re-inventing the economy for sustainability
By Arize Nwobu NIGERIA is an emerging market, middle income and mixed economy, and is ranked the 27th largest economy in the world. It has the largest natural gas economy in Africa and is also the largest oil and gas producer in the continent. The country had a good head start with a well-defined First […]
‘How auto sector can salvage the economy’
The Federal Government has been advised to give special attention to the nation’s automobile sector, which can be used to salvage the economy.
Breaking: Economy sustains recovery with 0.51% GDP growth in Q1 2021
By Yinka Kolawole Nigeria’s economy appears to be on sustained recovery from recession as the Gross Domestic Product (GDP) grew by 0.51% (year-on-year) in real terms in the first quarter of 2021. This marks two consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of 2020. The National […]
FG ‘ll engage private sector to transform economy ― Buhari
The Federal Government says it will continue to engage and collaborate with the Nigerian Exchange Group (NGX Group) and the private sector to transform the economy and improve the welfare of Nigerians. President Muhammadu Buhari said this at the launch of the NGX Group’s campaign, “The Stock Africa is Made of,” on Tuesday. The virtual […]
Nigeria remains Africa’s biggest economy, top investment destination – APC
The All Progressives Congress (APC) says Nigeria remained Africa’s biggest economy and top investment destination. Sen. John Akpanudoedehe, Secretary, APC Caretaker and Extra-ordinary Convention Planning Committee (CECPC) said this in a statement on Thursday in Abuja. Akpanudoedehe was reacting to insinuation that Twitter’s decision to cite its African operations in Ghana was caused by bad […]
Gov Emmanuel says ring road project will boost state economy
The Governor of Akwa Ibom State, Mr Udom Emmanuel, has projected that the ongoing 9.5km Ring Road III project in Uyo which transverses three major economic routes namely Aka – Nung Udoe Road, Oron Road and Nwaniba Road will further boost the State economy.
Economy: Nigeria should avoid another COVID-19 lockdown in 2021 – ANSAA boss
Nigerians should do all to avoid another round of lockdown in 2021 that could impact more adversely on the economy, Chief Jude Emecheta, the Managing Director, Anambra Signage and Advertising Agency (ANSAA) has said. Emecheta said in Awka on Sunday that ANSAA could only realise 15 per cent of its revenue projection of N1 billion […]
COVID-19: Africa’s economy shrinks by 3.4%, says AfDB
The President of African Development Bank, AfDB, Dr. Akinwumi Adesina, has said Africa’s economic growth this year will decline by 3.4%, because of the challenges of the Covid-19 pandemic.
MAN, LCCI others blame recession on COVID-19, #EndSARS; foresee job losses, reduced purchasing power
Nigeria has formally entered its second economic recession in five years as the severe impact of the COVID-19 pandemic on global crude oil prices and restrictions imposed to curb the virus caused the nation’s economy to contract for the second consecutive quarter by 3.62 percent in the third quarter of 2020.
Stakeholder harps on mechanized mining sector
By Gabriel Ewepu THE former President of Miners Association of Nigeria, MAN, Sani Shehu, has said that poor mechanization is stalling diversification of the economy through the mining sector. Shehu stated this while speaking with Energy Vanguard on the need for government to adequately address the issue of mechanization of all mining operations across the […]
Post Covid-19: Develop policies for economy recovery around agriculture, FG tell states
… Says Zero-Oil Economy Plan Would Facilitate Agro-Export Value Chain By Femi Bolaji, The federal government has advised all states across the federation to use agriculture as leverage for the revival of the nation’s economy post COVID-19. The Minister of State for Budget and National Planning, Clem Ikanade Agba spoke Wednesday, at a Community of […]
