Experts disagree as presidency says inflation’ll drop to single digit
THE Presidency has assured Nigerians that the inflation rate in the country is heading towards a single digit and would translate to better living conditions for the masses.
No respite for textile industry as domestic market shrinks further
The Nigerian textile industry has continued to struggle with available data showing that the sector’s contribution to the Gross Domestic Product (GDP) in steady decline over the past 5 years.
Nigeria’s net forex reserves rises 479% to $23bn — CBN
•Strongest in over 3 yrs By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) yesterday said that the nation’s Net Foreign Exchange Reserve (NFER) rose by 479 per cent to $23.11 billion in 2024 from $3.99 billion in 2023. The CBN disclosed this in a statement explaining that the increase reflected a substantial […]
FG’s deficit hits N12.95tr, exceeds budgeted target by 41%
•But revenue grew 34.8% to N8.6trn By Elizabeth Adegbesan The Federal Government (FG) recorded a N12.95 trillion budget deficit in 2024. This represents a 41 percent increase from its N9.16 trillion budgeted deficit for the review period. Details of data from the Central Bank of Nigeria, CBN, Quarterly Economic Reports for 2024 showed that the deficit […]
Naira rises to N1,560/$ in parallel market
By Elizabeth Adegbesan The Naira yesterday appreciated to N1, 560 per dollar in the parallel market from N1,570 per dollar on Wednesday. But the Naira depreciated to N1,540 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira […]
Naira depreciates to N1,585/$ in parallel market
By Elizabeth Adegbesan The Naira yesterday depreciated to N1, 585 per dollar in the parallel market from N1,580 per dollar last weekend. But the Naira appreciated to N1,533 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira […]
