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Economy

Inflation rate records fourth consecutive decline in 2017

  National Bureau of Statistics (NBS) has reported fourth consecutive decline in 2017 Nigeria inflation rate. The nation’s statistics bureau in its latest report said, the Consumer Price Index (CPI) which measures inflation increased by 16.25 percent (year-on-year) in May 2017. This was 0.99 percent points lower the rate recorded ...

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ETF: AMBODE PRESENTS N924.7M CHEQUES TO 1,438 BENEFICIARIES

L-R second row: Chairman, IBILE Microfinance Bank, Hon. Kolawole Taiwo; representative ofLagos State Governor &Commissioner for Wealth Creation & Employment, Dr. Babatunde Durosinmi-Etti; Chairman, LSETF, Mrs. Ifueko Omoigui Okauru; Chairman, House Committee on Wealth Creation & Employment, Hon. Sola Giwa; Permanent Secretary, Ministry ofWealth Creation & Employment, Dr. Yakub Basorun; Executive ...

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Soaring cost of domestic debt service

While yesterday we commented upon the still exemplary ratio for domestic debt stock/GDP, today we note the alarming rise in domestic debt service (see chart). Payments have soared from N354bn in 2010 to N1.23trn last year. We focus on the domestic payments because they comprise more than 90% of the ...

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Nigerian Economy Gathers More Momentum

    A review of the latest Purchasing Managers’ Index (PMI) that the Central Bank of Nigeria (CBN) published for the month of April 2017 suggests that the Nigerian economy is on the way out of recession. However, we believe more policies are required to achieve sustainable growth. The PMI ...

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African leaders to task: Consider your legacy, do the right thing!

…Africa’s agenda must change to prioritize jobs and power, Elumelu cautions       “Embrace legacy, you are not here forever,” Mr. Tony O. Elumelu, CON, Chairman of Heirs Holdings, and Founder of the Tony Elumelu Foundation, urged policymakers as he represented the African private sector at the opening session ...

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FG Is Building A Productive Inclusive Nigerian Economy-Kemi.Adeosun

The Minister of Finance, Mrs Kemi Adeosun, has said that the administration of President Muhammadu Buhari is building a productive Nigerian economy for a sustainable and inclusive economic growth. The Minister said this while speaking on Sunday at “The Platform” hosted by the Covenant Christian Centre, Lagos. She said that ...

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FG set to establish satellite industrial centres

Towards fast tracking its plan on the diversification, the Federal Government is set to establish Satellite Industrial Centres across the six geo-political zone of the country. The establishment of these industrial centre, which will be anchor by the Nigeria Export Processing Zones Authority  (NEPZA ),  is expected to commenced immediately ...

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Adeosun engages G24 on Tax Revenue, Inclusive Growth, Budget transparency

.Calls for focus on non-oil revenue growth, tax compliance and budget  accountability to drive sustainable economic development   The Honourable Minister of Finance, Kemi Adeosun, met with fellow Finance Ministers at a meeting convened by the G24 Group to discuss strategies to drive non-oil revenue growth and achieve inclusive growth. ...

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Adeosun takes economic reform agenda to World Bank Spring Meetings

*Calls for greater African and international collaboration on illicit financial flows to drive accelerated revenue growth and improved government efficiency. The Honourable Minister of Finance, Kemi Adeosun, is in Washington DC this week, attending the World Bank and IMF Spring Meetings. The Minister is participating in a range of events ...

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Economy: We are Seeing Light at the End of the Tunnel, Says VP Osinbajo

Professor Yemi Osinbajo, Nigeria’s Vice President   *FG North-East Innovation Hub to be Based in Yola As the Federal Government begins to implement its innovation and technology initiatives with the establishment of hubs in each of the six geo-political zones, the Vice President Yemi Osinbajo, SAN, announced today that Yola, ...

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