Business
Forex Supply Drops To $700m Monthly
The Central Bank of Nigeria said on Tuesday that the monthly supply of dollars at its disposal had dropped to between $600m and $700m. While the bank had a stock of up to $3bn monthly […]
Economy
Economy
Nigeria To Auction N142b Treasury | TheNation
Nigeria plans to raise about N142.43 billion ($453.60 million) in short-dated Treasury bills at an auction on Feb. 15, the Central Bank of Nigeria (CBN) said in a statement yesterday. The bank said it would […]
Economy
The Naira Is Dead: Lets Redenominate the Currency Before Its Too Late!, By Paul Alaje
The failure to consider this policy will result in the continuous speculation on the naira. About a year ago, we had warned that the naira might emaciate to as much as N500 to the dollar […]
Economy
Feeding The Nation Behind a computer: Nigeria’s new generation of farmers without farms By Kunle Falayi
Thirty-nine-year-old Ishola Adelakun held up the palm of his hands to show how soft they were. In Nigeria, how coarse the palm is, is often a measure of how physically “hardworking” one is. For a […]
Economy
The Naira Is Dead: Lets Redenominate the Currency Before Its Too Late!, By Paul Alaje
The failure to consider this policy will result in the continuous speculation on the naira. About a year ago, we had warned that the naira might emaciate to as much as N500 to the dollar […]
Economy
Lagos to Use Art, Tourism to Boost Economy
Lagos State Deputy Governor, Dr. Idiat Oluranti Adebule has disclosed that the just concluded three-day Rasheed Gbadamosi Eko Art Expo organised by the state government was aimed at using tourism, entertainment and the creative arts […]
Economy
Benin Republic Hit by Nigeria’s Car Import Ban | ThisDayLive
Surveying his sprawling car dealership on the fringes of Benin’s commercial hub Cotonou, Kassem Hijazi alternates between chain-smoking Marlboro cigarettes and puffing on a hookah. He and his colleagues do not have much else to […]
Economy
New Minimum Wage Demand In A Recession | Punch
AFTER its tepid declaration last year, the organised labour has rekindled its interest in a new national minimum wage for workers. From the present N18,000 minimum wage, the Nigeria Labour Congress demands an increase to […]
Economy
AN ECONOMY IN TROUBLE | TheNation
Government needs to focus on the fragile economy The Nigerian Economic Summit Group (NESG) last week released its latest report titled “Looking Inwards: Will Nigeria tread the path of Economic Recovery and Growth in 2017?” […]
Economy
Nigeria, three other countries may face famine in 2017 – Report
Due to persistent conflict, severe drought and economic instability, Nigeria and three other countries face a credible risk of famine in 2017, a report has said. In a report released Wednesday, the Famine Early Warning […]
Economy
Tinubu: We Must Spend Our Way Out Of Recession
The audience was right – a group of military chiefs. So was the guest speaker, a renowned political strategist widely credited with the movement that swept the President Muhammadu Buhari administration into power – Asiwaju […]
Economy
Weak Tailwinds and a Sick Economy, By Uddin Ifeanyi
…none of the developments last week supported a sense of an impending correction of the poor policy prescriptions this year. If anything, the federal government’s sense of what must be done to address the naira’s […]
Economy
Is CBN’s Foreign Exchange Policy Business Friendly? | Punch
The Central Bank of Nigeria’s foreign exchange policy is not business friendly. It requires immediate change and resolution. Look at the parallel market and the official market, there is serious gap. This can only create […]
Economy
Eleven Actions Required For Speedy Economic Turnaround, By Atedo Peterside
Our economy is underperforming because, amongst other things, it is caught up in a low foreign exchange trap. Borrowing forex without instituting necessary and badly needed economic and structural reforms is akin to suicide. Those […]
Economy
Buhari’s 2017 Budget of Waste And Frivolity (2) By Eze Onyekpere
Again, the phrase, “governance and institutional reforms”, resurfaces in the budget of the Ministry of Power, Works and Housing in the sum of N1.334bn; Ministry of Mines and Steel got N34.6m; the Ministry of Industry, […]
Banking
National Assembly Passes MTEF, Okays N305/$ Exchange Rate, Raises Benchmark to $44.5
The Senate yesterday in Abuja passed the 2017-2019 medium term expenditure framework (MTEF) and fiscal strategy paper (FSP), retaining the exchange rate of N305 to $1 as proposed by the executive but raised the proposed […]
Business
Adeosun Says Black Market Will Soon Collapse. Really? | TheCable
Well-meaning Nigerians have advised government to deal with the prevailing multiple foreign exchange rates. The reason is not far-fetched: multiple exchange rates encourage ‘round tripping’ and discourage real production. A manufacturer who gets a dollar […]
Economy
Way Out Of Joblessness For 27 Million Citizens
JOBLESSNESS is becoming a way of life in Nigeria. In its just-released report that covered the third quarter of 2016, the National Bureau of Statistics paints a grim picture: 27.1 million citizens are unemployed. Companies […]
Economy
Sustaining Development In A Recession By Niyi Akinnaso
The focus on the slow pace of recovery from the ongoing recession and the readiness with which the President Muhammadu Buhari administration is being blamed for the present economic problems could make critics forget the […]
Business
Kogi Youths Celebrate Return of MMM
Youths all around the Kogi state capital city of Lokoja on Saturday were at several beer parlours to celebrate the return of the controversial Mavrodi Mondial Movement, a Ponzi scheme that froze the accounts of […]