Inflation
10 Sep 2024
Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has decried the exodus and closure of businesses in the country arising from the state of the nation’s economy.
6 Sep 2024
Nigerian banks granted about N2.3 trillion in loan facilities to the private sector between June and July of this year.
5 Sep 2024
Inflation is an economic reality that affects every sector, and in Nigeria, its impact has been particularly severe in recent months. The removal of subsidies on petroleum products, combined with volatile exchange rates, has led to a significant surge in the cost of living. From food items to transportation, prices have risen sharply, placing immense…
5 Sep 2024
The Industry Sector Purchasing Managers Index (PMI) contracted for the seventh consecutive time, recording 49.2 points in August, according to
28 Aug 2024
The Director-General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Sola Obadimu, has decried the inefficiencies at Nigerian ports, revealing that they add up to 50 per cent to the cost of goods and worsen inflation in the country.
27 Aug 2024
Though President Bola Tinubu hailed the latest report by the National Bureau of Statistics (NBS) on the state of the economy, which saw the country’s Gross National Product (GDP) posting new growth, there are concerns about the economic reality on the ground
19 Aug 2024
Transnational Corporation (Transcorp) Plc on Monday said its operating expenses increased by 50 per cent to N21.2 billion in the first half (H1) of 2024. Transcorp disclosed this in a statement, on Monday, where it highlighted the H1 2024 report, explaining that the surge in operating expenses reflects the impact of inflation and the cost…
15 Aug 2024
Nigeria’s headline inflation rate declined to 33.40 per cent in July, says the National Bureau of Statistics (NBS). This is contained in the NBS Consumer Price Index (CPI) and Inflation Report for July, which was released on Thursday in Abuja. The figure is 0.8 per cent points lower than 34.19 per cent recorded in June.…
14 Aug 2024
The galloping inflation and the forex volatility that have kept costs high have continued to drag the country’s economic activities down as the July 2024 composite purchasing managers index (PMI) stood at 49.7 points indicating contraction in economic activities for the thirteenth straight month. This is contained in the July PMI report of the Central…
12 Aug 2024
The Federal Competition and Consumer Protection Commission (FCCPC) has said it will engage market leaders and others in the supply and distribution chain across Nigeria in an effort to reduce inflation. The FCCPC disclosed this in a statement signed by the Vice Chairman/CEO Tunji Bello on Monday. According to Bello, this is pursuant to Sections…
8 Aug 2024
Concerned by the inflation following the relaxation of the imposed curfew in the state, Governor Abba Kabir Yusuf of Kano State has convened an interactive meeting with the business community to find solutions to halt this troubling trend. This was contained in a statement issued by the governor’s spokesperson, Sanusi Bature Dawakin Tofa, on Wednesday.…
5 Aug 2024
A new report stated that population growth, urbanisation and the fervent desire to own property have contributed to the resilience and unwavering residential market.
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