As emerging markets around the world continue their recovery from Covid-19, a report by Oxford Business Group, a leading economic research organization, has indicated that the substantial drop in global remittances to Sub-Saharan Africa (SSA), is largely attributable to diversion of Nigeria’s foreign exchange inflows to informal, undocumented channels This is even when remittances are […]
The Centre for the Study of Economies of Africa (CSEA), a research firm committed to analytical researches on Africa’s economic trends, has advised the Central Bank of Nigeria (CBN) to consider reviewing the Monetary Policy Rate (MPR) as a desirable monetary option to thawing Nigeria’s rising Inflation rates. Specifically, the CSEA researchers pointed out that […]
The National Bureau of Statistics (NBS) has reported that Nigeria’s All commodity group import index increased by 0.82% between January and March, 2021. The agency attributed the rise mainly to increase in the prices of Mineral products (1.53%), Live animals; animal products (1.38%) and Animal and Vegetable fats and oils and other Cleavage products (1.24%). […]
In what seems to be a reflection of the realities on ground on the ongoing NIN-SIM verification exercise, the Federal Government has approved July 26, 2021as the new deadline for the completion of the exercise nationwide. The Director, Public Affairs Nigerian Communications Commission (NCC), Ikechukwu Adinde and the Head, Corporate Communications, Nigeria Identity Management Commission […]
The National Bureau of Statistics (NBS) on Tuesday reported that Nigeria’s Composite Price Index (CPI), which measures inflation, dropped marginally to 17.93 percent year-on-year (YoY) in May 2021 from 18.12% recorded in the preceding month. The May rate represented 0.19% points lower than the rate recorded in April The official statistical data producing and publishing […]
The Centre for the Study of the Economies of Africa (CSEA), a leading economic research and analysis organisation, has advocated the need for financial intermediaries in Nigeria to continue to play their roles in promoting private sector growth by providing appropriate and easily accessible credit facilities. In addition, the research group also charged financial sector […]
The National Bureau of Statistics (NBS) has reported a slight decrease in Nigeria’s Consumer Price Index (CPI), which measures the general price level (inflation) in the economy, from 18.17 percent rate recorded year-on-year in March to 18.12 percent in April 2021. The NBS stated that the drop represented 0.05 per cent points lower than the […]
Indications that the nation’s economy is gaining productive traction have emerged with the Company Income Tax (CIT) collections rising to N392.77billion in the first quarter this year, representing 32.84 percent year-on-year (YoY) increase over collections in the corresponding quarter of last year. The latest Company Income Tax By Sectors (Q1, 2021) just published by the […]
The House of Representatives on Wednesday urged the Federal Government to immediately suspend the proposed 2021 population and housing census planned to be conducted by the National Population Commission (NPC), due to rising insecurity challenge in the country. The lawmakers’ advice was sequel to the adoption of a motion of urgent public importance on the […]
The National Bureau of Statistics (NBS) on Tuesday signed Memorandum of Understanding (MoU) with the Nigerian Ports Authority (NPA) as part of its collaborative initiatives with stakeholders in the nation’s political economy to enhance the nation’s statistical system. In his remarks during the pact with the NPA, the Statistician General of the Federation, Dr. Yemi […]