The latest Purchasing Managers’ Index (PMI) report on Nigeria released by Stanbic IBTC for March this year showed that the headline PMI was unchanged at 51.0 in March, indicating no change in manufacturing activities from the index recorded in February. Analytically, the report implies that major activities in the manufacturing sector for the month remained […]
The Centre for Promotion of Private Enterprise (CPPE), a leading advocacy organization championing the interests of the organised private sector (OPS) in Nigeria, has set some key issues for the Central Bank of Nigeria (CBN) for consideration in its latest moves to strengthen the financial system through its just published recapitalization requirements for banks in […]
The Ogun State Government has unveiled plans to conduct household surveys to develop a framework that will assist in planning, management, and evaluation of the multi-dimensional poverty human development index in the state. The survey is expected to go one step further than the NBS’ Multi-dimensional poverty index by allowing the Prince Dapo Abiodun-led administration […]
The Manufacturers Association of Nigeria (MAN) has appealed to the Federal Government and regulatory agencies for understanding of the plight of entrepreneurs in the country, particularly in the current environment characterized by several policy weaknesses and consumer apathy. The Director General of the Association, Mr. Segun Ajayi-Kadir, who made the appeal in view of the […]
The Association of Corporate and Marketing Communication Professionals of Banks (ACAMB) has welcomed the latest guidelines of the Central Bank of Nigeria (CBN) on the banking sector recapitalization and assured the public of the capacity of the banks to meet the required targets within the two-year timeline set by the apex bank. The President of […]
The Nigerian Customs Service’s (NCS’) foreign exchange (FX) rate for cargo clearance and import duties collection has dropped from N1,572.5/$ to N1,448.38/$1, representing a decline of N124.12 from last week’s rate. The latest FX rate of the revenue agency is reflected on the Central Bank of Nigeria’s (CBN’s) official window. Over the past weeks, the […]
The Central Bank of Nigeria (CBN) has announced a significant inflow of over $1.5 billion foreign investments into the Nigerian economy, describing the surge in inflows to the effectiveness of its monetary policy strategies. The apex bank’s Acting Director of Corporate Communications Department, Mrs Hakama Sidi Ali, in a statement on Thursday, attributed the increasing […]
The African Development Bank (AfDB) has signed a $75 million loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited. The loan will enable Indorama to increase its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job creation in Nigeria. A news […]
The Nigeria Sovereign Investment Authority (NSIA) on Thursday announced its audited results for the 2023 financial year, which reflected a huge surge in its net assets’ value to N2.22 trillion from the N1.02 trillion it recorded in 2022 financial year, representing 119% increase year-on-year. The financial performance, which reflected improvements in its performance across all […]
In furtherance of its sustained policy reforms in the nation’s financial system, the Central Bank of Nigeria (CBN) on Thursday announced new minimum capital requirements for Deposit Money Banks (DMBs) based on their size licence categories. A statement issued by the Acting Director, Corporate Communications Department of the apex bank, Mrs Hakama Sidi-Ali, the latest […]