The Federal Government on Tuesday restated its commitment to find solution to the lingering volatility in the nation’s foreign exchange (FX) markets with a view to making investment planning easier for business owners and other investors in the nation’s economic space. The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, stated this on Tuesday […]
….Estimates GDP To Grow By 3.7% The World Bank in its just published ‘Global Economic Prospects For January 2024’ has projected that Nigeria’s per capita income will return to its pre-pandemic level by 2025. The Bretton Woods institution hinged its latest forecasts on current reforms initiatives of the Nigerian government which, it also noted, would […]
Despite promises by the BUA Cement’s management to deliver cement at lower prices to consumers this year, a new report by Cardinal Stone, a full-service investment banking and multi-asset management firm, has projected that prices of the commodity may further soar this year. The just published report titled “Nigeria Cement Rebounding from a Tumultuous Year” […]
A new report by ‘Africa: The Big Deal’ on startups across Africa has indicated that the entities raised a total of $2.9 billion in 2023, representing a 39% year-on-year decline when compared to the funds they raised in 2022. According to the report, which monitors deals announced by startups on the continent last year, in […]
The National Agency for Food and Drug Administration and Control (NAFDAC) has reduced by 65% the registration renewal fees for Micro, Small, and Medium Enterprises (MSMEs) in the country. The agency, in a statement signed by its Director-General, Prof. Mojisola Adeyeye, also outlined other measures to enhance the ease of doing business in Nigeria and […]
The latest Stanbic IBTC Purchasing Managers Index (PMI) for Nigeria has reflected that the organized private sector (OPS) posted improved growth to 52.7 in December 2023, up from 48.0 recorded in the preceding month. However, despite the improved performance of the private sector, the business outlook of the economy for the new year ebbed to […]
The Lagos Chamber of Commerce and Industry (LCCI) on Monday charged the President Bola Tinubu-led administration on prevailing economic challenges in the country and specifically to provide more detailed plans and strategies to tackle inflation, under-employment, insecurity, and social inequality in the country. The leading organized private sector (OPS) group, in its statement on the […]
The National Bureau of Statistics (NBS) has reported that Nigeria’s All-Commodity Group Import and All-Commodity Group Export Price indices increased in the third quarter of this year. In its ‘Commodity Price Indices and Terms of Trade (Q3 2023)’ report just published on its website, the Bureau indicated that the All-Commodity Group Import Index on average […]
…..As Kerosene’s Surges 18.78% The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 5.82% on a month-on-month basis from N4,562.51 recorded in October 2023 to N4,828.18 in November 2023, the National Bureau of Statistics (NBS) has reported The statistics agency, in its ‘Liquefied Petroleum Gas (Cooking Gas) […]
Apart from Lagos, Nigeria’s economic capital, Ogun State is Nigeria’s most economically viable state, a report by Economic Confidential, a subsidiary of PR Nigeria, has indicated. Pointing to Ogun State’s status as Nigeria’s topmost investment destination after Lagos, the report showed that the Dapo Abiodun-led Ogun State outperformed Rivers State, which joined Lagos and Ogun […]