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Economy

FG discontinues TSA’s $793.2 million suit against 7 banks

The Federal Government has filed a notice of discontinuance in a suit it filed against seven commercial banks seeking the remittance of the sum of $793,200,000 allegedly hidden with them in contravention of the Treasury Single Account (TSA) policy. The notice of discontinuance dated the 7th of August was brought ...

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After the Rain: What’s Next for Nigeria?

Global Economy: Positive outlook buoyed by strong EM growth As economic activities gain momentum and commodity prices recover from their troughs in 2016, consensus estimates see scope for an improvement in global economic growth in 2017 [World Bank (2.7%, +125bps y/y) and IMF (3.5%, +129bps y/y)]. Global trade volumes are ...

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ECONOMY: Nigeria’s Real Sector Improves in July as IM

The July 2017 survey report on purchasing and supply executives from manufacturing and non-manufacturing businesses recently released by Central Bank of Nigeria showed sustained expansions in both the manufacturing and non-manufacturing businesses. Sustained expansion in the real sector reinforced our opinion of an imminent exit from the country’s five month ...

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Nigeria Outlook H2-2017: After The Rain

    Summary Global Economy: Positive outlook buoyed by strong EM growth As economic activities gain momentum and commodity prices recover from their troughs in 2016, consensus estimates see scope for an improvement in global economic growth in 2017 [World Bank (2.7%, +125bps y/y) and IMF (3.5%, +129bps y/y)]. Global ...

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Osinbajo Says Future of Nigerian Economy in MSMEs

        “The business of making our country truly great is not just the business of government. Government is transient, it passes away but it is the business of every one of us.’’ “I can assure you that whatever it takes to make our country truly where it ...

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Inflation drops 16.1% in June

The  Nigeria annual inflation has eased for fifth straight month, slowing to 16.10 percent at the end of June, 2017. The Consumer Price Index (CPI) which measures inflation increased by 16.10 percent (year-on-year) in June 2017, which was 0.15 percent points lower the rate recorded in May (16.25 percent). On ...

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Nigeria will continue to borrow to fund 2017 budget-Adeosun

Kemi Adeosun     Nigeria will continue to borrow to fund its budget for 2017, the finance ministry said in a statement on Thursday, after the finance minister said on Tuesday Africa’s largest economy “cannot borrow anymore”. Finance Minister Kemi Adeosun’s comments had raised questions about how Nigeria would fund ...

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Nigerian Economy on a Recovery Path

    Domestic Scene The hope that the Nigerian economy will exit the current recession has improved further as the manufacturing and non-manufacturing activities increased in the month of June 2017 despite the decrease in the monetary aggregates. Manufacturing Purchasing Manager’s Index (PMI) in Nigeria expanded for the third consecutive ...

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