Economists at Centre for the Study of Economies of Africa (CSEA), a leading economic research and consulting services firm with special focus on trends in Sub-Saharan Africa’s (SSA’s) economies, have canvassed some fiscal and monetary policy measures for the Federal Government to implement in order to halt the dwindling foreign reserves of the country. The […]
A new report published by the Institute of International Finance (IIF) indicated that global debt stock reached a historic high of $307.4 trillion in the third quarter of 2023, with the debt-to-output ratio in emerging markets reaching an unprecedented level during the quarter In the latest report published on Thursday, the financial services trade group […]
The Securities and Exchange Commission (SEC) has attributed the reclassifications of Nigerian securities indices by FTSE-Russell and MSCI to the current foreign exchange (FX) liquidity challenges in the country and the effects on investor confidence in the economy. FTSE Russell, a subsidiary of London Stock Exchange Group (LSEG), recently downgraded the Nigerian equities market just […]
Apparently worried about the current backlash from universities’ administrators and analysts on the announced fiscal measure to deduct 40% from internally generated revenue (IGR) of the tertiary institutions, President Bola Tinubu on Friday shelved the implementation of the directive. Specifically, the President attributed the decision to halt the implementation to its inappropriate timing given the […]
The Central Bank of Nigeria (CBN) has projected that current inflationary pressures may continue in the near term based on the prevailing micro and macroeconomic indices of the economy The apex bank, which made this prediction in its just published second quarter ‘Economic Outlook’ report, pointed out that the removal of fuel subsidy, depreciation of […]
In what has now become a recurring issue in the nation’s banking sector, the Association of Licensed Telecom Operators of Nigeria (ALTON), the umbrella body of telecommunications companies in Nigeria, has again threatened to withdraw unstructured supplementary service data (USSD) service from deposit money banks (DMBs) following their indebtedness now estimated at about N200 billion […]
The National Insurance Commission (NAICOM) has reminded the three tiers of government in Nigeria to factor into their yearly budgets funds that will provide insurance cover public buildings in line with the existing insurance law in the country.. The Commissioner for Insurance and Chief Executive Officer of the commission, Mr. Sunday Thomas, who gave the […]
….Rates Buhari’s Tenure As Challenging For Businesses, Nigerians An analyst at Morgan Stanley, one of the leading global investment banks, Steven Quattry, has predicted that current reforms by President Bola Tinubu to reposition Nigeria’s economy on the path of sustainable growth may lead to a strong increase in the nation’s annual income, despite the […]
The Nigeria Customs Service’s (NCS’) Seme Command has reported a N3.1 billion revenue from January–October 31, 2023, thereby surpassing its revenue target by N1.966 billion or 55.1% for the 2023 fiscal year. The command also facilitated the export of a total of 41, 867.88 metric tonnes of non-oil export products within the period, which comprise […]
The Federal Government on Thursday hinted of its plans to commence the construction of 34,500 housing units in the 36 states and the Federal Capital Territory (FCT). The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, made this disclosure in his keynote address at the ongoing 12th Meeting of the National Council of […]