ECONOMY

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at the end of its two-day meeting on Tuesday left the Monetary Policy Rate (MPR) unchanged at 14 per cent. The CBN Governor, Mr Godwin Emefiele who announced the decision of the committee in Abuja explained that the...

• Set up joint task force on security • Declare zero tolerance for crime in region • Establish Western Nigeria Export Development Initiative South West Governors have expressed their resolve to forge ahead with the regional integration plan and promote the growth of the region especially in key areas such...

The International Monetary Fund (IMF) has projected that Nigeria's economy will grow at a faster pace than South Africa's in 2018. According to its World Economic Outlook (WEO) for July 2017, the IMF said Nigeria will grow at 1.9 per cent in 2018, while South Africa will only climb by...

With the stability in foreign exchange market and consistent drop in inflation rate, a group of researchers at FSDH are expecting the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to hold interest rate at 14 per cent and Cash Reserve Ratio at 22.5 per cent. The...

``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 should be in the...

• FG to decide on proposed new Ecological Fund criteria There is considerable progress in the implementation of ideas generated at last year’s retreat of the National Economic Council, according to a Monitoring Report presented to the Council at the July meeting earlier today. At the NEC meeting presided over...

The Central Bank of Nigeria (CBN) has the capacity to sustain ongoing foreign exchange (forex) interventions despite the pressure on the foreign exchange reserves, Chief Consultant of Biodun Adedipe Associates Limited, ‘Biodun Adedipe has said. Speaking on Thursday at the Finance Correspondents Association of Nigeria (FICAN) Half-Year Economic Review held...

The Nigerian government has released details of payments to the 36 states as refund of “over-deductions on Paris Club, London Club Loans and Multilateral debts on the accounts of States and Local Governments (1995-2002).” The latest payment is the second tranche of the refunds to the states. A total of...

Senate President, Bukola Saraki, has said that smuggling of goods into the country is the greatest threat to the realization of the economic policies of the present administration led by President Muhammadu Buhari. Saraki revealed this at an hearing organized by the Senate Committee on Customs, Excise and Tariffs at...

The National Bureau of Statistics (NBS) has said inflation rate has declined to 16.10 per cent in June, representing fifth consecutive decline in the rate since January 2017. The 16.10 per cent inflation rate in June represents 0.15 per cent drop from 16.25 per cent recorded in May. The bureau...