The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, on Tuesday predicted that Nigeria’s economy would record between 2.5% and 3.0% growth this year despite the lingering impact of COVID-19 pandemic across all the broad sectors of the nation’s economy. Specifically, the top banker said that the apex bank was targeting a 15 percent inflation […]
The Federal Government has unveiled plans to raise manufacturing sector’s contribution to the nation’s Gross Domestic Product (GDP) to 20 percent within the next six years. Currently, the real sector’s contributions to the nation’s GDP is less than 10 percent, thereby necessitating huge importation of manufactured goods with the attendant negative implications for Nigeria’s foreign […]
Determined to cut the huge amount the country is spending daily to import refined petroleum products and bridge the supply gap in the domestic market, the Federal Government has unveiled plans to reel out a new policy that will require operating companies to refine locally at least 20 percent of the crude oil they produce […]