Foreign currency inflow to oil, gas sector down to $8.09m
Foreign currency inflow into the Nigeria’s oil and gas sector has dropped from the $201.14 million it recorded during the first quarter of 2014 to $8.09 million in the second quarter of 2016.
‘Lack of economic roadmap responsible for dearth of foreign investment’
Over N11t of Foreign Direct Investments (FDIs) into Nigeria have been lost within four years, between 2011 and 2015, with the hardest hit year being last year, 2015 when the level drastically dropped to a record low of one trillion naira
Government seeks equity in N6.5tr infrastructure spending
Efforts are under way to ensure that the Federal Government leaves no part of the country out of the planned expenditure of N6.5 trillion on infrastructural development in the country. The government wants equity in the distribution of the funds to all zones...
Energy, furniture costs push inflation rate to 16.5%
From the National Bureau of Statistics (NBS) has come a report that inflation rate in June moved to 16.5 per cent, from the 15.6 per cent recorded in May. This is the fifth time the economy will be recording double...
Explore calm in forex to control inflation, chamber urges CBN
The Nigerian-British Chamber of Commerce (NBCC) has urged the Central Bank of Nigeria (CBN) to explore the current calm in forex market to control the country’s rising inflation.
It’s time to wake up the sleeping giant
Ideally Nigeria should be close to self sufficiency with its food requirements. A few decades ago the country was the leading producer of a number of agric-related products such as palm oil, rubber, cocoa, sorghum, millet and the list goes on.
Porting activities increase by 20.8 per cent
Activities that have to do with an operator losing and gaining subscribers in the telecommunications sector appeared to be on the upward swing.
How faltering global, domestic economies propped ‘flexible’ policy
The assessment of the challenging global and domestic macroeconomic and financial developments, the short-to medium-term prospects for the domestic economy and the outlook for the rest of the year...
Inflation: Coping with decreased purchasing power
Despite attempts by the Central Bank of Nigeria (CBN) to rescue the naira in the face of dwindling revenue, the efforts have so far failed to yield positive result, as the economy...