Economy

•To end fuel import after 18 months The Nigerian National Petroleum Corporation (NNPC)  has been unbundled into four units in a major restructuring of the 39-year-old oil giant. Minister of State for Petroleum Resources Dr. Ibe […]

Growth in Nigeria, Africa’s biggest economy, slowed in the fourth quarter as oil prices fell and manufacturing sank deeper into recession. Gross domestic product expanded 2.1 percent from a year earlier, compared with 2.8 percent […]

President Muhammadu Buhari on Tuesday publicly accused the MTN Group of contributing to the casualty figure of about 10,000 Nigerians killed by members of the Boko Haram sect between 2009 and now. He claimed the […]

NEITI (Nigeria Extractive Industries Transparency Initiative) is the body in Nigeria with the statutory mandate to ensure transparency in the extractive industries. The extractive industries in Nigeria comprises mainly of the petroleum and mining sectors. […]

Many people talk about the problems militating against Nigeria’s progress and in doing so they list out corruption, a bad economy, terrorism or crime. In my opinion, Nigeria’s biggest problem is not corruption, a bad […]

FOREMOST political economist Prof. Pat Utomi has canvassed the need for discipline, planning and proper governance to improve the economy. Utomi spoke at the breakfast meeting of the Society for Corporate Governance Nigeria (SCGN) at […]

Crude oil assets have empowered many rich countries to become more socially secure while erstwhile ubiquitous and relatively poor desert states have also become stupendously rich. It is, therefore, inexplicable that, despite Nigeria’s ranking as […]

It is sometimes a frustrating experience being a Nigerian. But Nigeria is a land full of bright ideas, opportunities, possibilities and challenges. We have enjoyed 16 years of uninterrupted civil rule and its promises of […]

Nigerians voted for change and to attain that change there is a need to do things differently, in the recognition that doing what we have always done will only result in more of the same. […]

DESPITE President Muhammadu Buhari’s reticence, a national debate on the economy appears to be underway all the same. In response to calls from influential quarters that the naira be devalued, the Federal Government has reiterated […]

The controversy as to whether to devalue the naira or not has taken the centre stage in the national discourse. One can pardon illiterates in economics especially primitive accumulators who are shouting for further devaluation […]

President Muhammadu Buhari has said that banks, importers and individuals involved in round-tripping of dollars they buy from the Central Bank of Nigeria’s (CBN) official market and resell in the parallel market will be made […]

Perhaps heeding the Nobel Laureate Wole Soyinka’s call for a national conference on the economy, the Muhammadu Buhari government has promised to hold one in the coming weeks. Rather than read Prof. Soyinka’s call as […]

It was nice seeing President Muhammadu Buhari in Qatar the other day “toasting” the country’s businessmen to come and invest in Nigeria. “All impediments like delayed processing of permits, multiple taxation, and corrupt practices, would […]

President Mohammadu Buhari may have indirectly banned Nigerians from pursuing their educational career abroad. The decision followed a discovery of the high demand for US dollar by parents of the students studying abroad who buy […]

The assumption that Nigeria is divided between those who “want” devaluation and those who oppose it is a false appearance. Any rational Nigerian, especially middle class individuals, who can be assumed to be rationally self-interested […]

Mr. Godwin Emefiele’s Report: “It is either I do not understand economics and how exchange rates work or a vast majority of usbNigerians still don’t get how we have wrecked our country with our own […]

Central Bank of Nigeria (CBN) Deputy Governor, Financial Sector Stability, Dr. Okwu Joseph Nnanna, yesterday said that ongoing speculative attack on the naira exchange rate will soon fizzle out. Nnanna expressed optimism that speculators will […]

Nigeria’s loss-making state oil giant is to be broken up into 30 “profit-making” companies, the government says. The Nigerian National Petroleum Corporation (NNPC) has been mired in corruption allegations and losing money for many years. […]

It’s not only European Central Bank stimulus that has the potential to hurt the euro. From the possibility that Britain might leave the European Union and the impact of refugees flooding the region, to concerns over […]