Economists have expressed deep concern that the Federal Government’s efforts to curb inflation through monetary policy measures, such as raising interest rates and reducing liquidity, have created a challenging financial environment for businesses.

Stakeholders across the real sector have lamented the worsening business environment, saying that the decline in total merchandise trade in Q2 2024, compared to Q1, does not come as a surprise in light of current realities.   

Except the 150-day duty-free import window for certain food items is backed with foreign exchange (FX) support among others, there are indications importers targeted by the fiscal policy will boycott the exercise, findings have suggested.

Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government to urgently address the prohibitive and unpredictable exchange rate used for cargo clearance, which, it argued, exacerbates the cost-of-living crisis and undermines economic stability. 

As poverty continues to take a toll on households, stakeholders said that rather than using a palliative approach to address the challenges the government should create the right economic opportunities as well as policies to bring down the prices of goods. They argued that a system where the government cannot continue to distribute largesse to…

Stakeholders have said that unless conscious efforts are made to revive and reposition the real sector, Nigerian manufacturers will not be able to compete.

Center for the Promotion of Private Enterprise (CPPE) has raised concerns over overbearing regulatory practices, including disproportionate sanctions, obstructive actions, and excessive fines and penalties, which have resulted in significant frustration and frustration for businesses and investments. The Director and Chief Executive Officer, CPPE, Dr Muda Yusuf, gave the warning, yesterday.These actions, CPPE contended, had…

IN the face of rising costs, low sales and worsening business confidence, stakeholders are calling for urgent actions to raise the bar of industrialisation, TOBI AWODIPE writes. Business activities in the private sector are off to a poor start in the second half of the year, showing a contraction in key indices. A recent purchasing managers’ index (PMI) revealed…

The stage may be set for a conflict among directors of banks, with the Bank Directors’ Association of Nigeria (BDAN) distancing itself from the position of Femi Otedola on the plan to tax foreign exchange (FX) profit of banks.

• Lagos residents sit-at-home in solidarity, fear of attacks  • Companies, businesses shut doors to commercial activities  The stock market experienced a bearish start to the month, shedding N235 billion in value amid cautious investor sentiment triggered by ongoing nationwide protest.     Specifically, market capitalisation reduced to N55.278 trillion from an opening of N55.513…

Less than three months into bank recapitalisation, the extensive fund-raising programmes may be shocking the economy as credit to the private sector continues to go south in the last few months, market data have revealed.

In a fresh push to pull Nigeria’s ailing economy out of the woods, the federal government has rolled out new deals under what it calls the Accelerated Stabilisation and Advancement Plan (ASAP).