How economy lost single digit inflation target
The 18-month consecutive fall in inflation rate, had in the last two months, lost momentum in making more significant decline, as food prices...
How Nigeria remains exposed to shocks
Besides the shallow trend of Nigeria’s economic diversification, the trade war between the United States (U.S.) and China is increasing its susceptibility...
Expert urges CBN to abolish multiple exchange rates
A financial expert and research analyst with ForexTime (FXTM), Lukman Otunuga, has urged the Central Bank of Nigeria (CBN) to do all it could to abolish the multiple exchange rate, saying it is currently coming closer to cutting interest rate with the positive development in the economy.
Stabilising fragile economy through desperate fiscal adjustments
Since February this year, the country’s economy, although still held hostage by low economic activities- recession, has been clawing back some gains owing to aggressive policy reversals. First is the easing inflation, which persistently lost strength up to April, while the May data is around the corner.
Otunuga: Fanatical dependence on oil Nigeria’s undoing
I find it quite remarkable and highly encouraging how, despite several months of recessionary woes, Nigeria remains resilient, and on a mission to stabilise in the longer term. Although 2017 has dished out various difficulties ranging from soft domestic data..
CBN boosts financial market, sells $230 million to 16 banks
Sixteen banks shared in the $230 million foreign exchange (forex) mart by the Central Bank of Nigeria through the forward contract agreement.
Fitch downgrades Nigeria’s rating to negative
International ratings agency, Fitch Ratings yesterday revised the outlook on Nigeria’s long-term foreign and local currency issuer default ratings (IDRs) to negative from stable, putting it at ‘B+’.
Experts support CBN’s decision on rates
The decision to keep all rates steady by the Central Bank of Nigeria (CBN) has stirred mixed feelings, although largely supportive of the apex bank’s position.
Anxiety over economy as oil, naira crises persist
According to the analyst, Nigeria’s sickness may be diagnosed as the prolonged periods of low oil prices that have not only heavily eroded government earning, but also diminished confidence towards the health of its domestic economy.