ECONOMY

The International Monetary Fund (IMF) said on Wednesday that Nigeria’s indebtedness would climb to 24.1 per cent of its Gross Domestic Product (GDP) by 2018. Nigeria ended 2016 with a debt to GDP ratio of 18.6 per cent while at the end of 2015, Nigeria’s debt to GDP ratio stood...

• With continued progress in agric • Manufacturing & non-oil sectors turnaround • Increasing reduction in sectoral negative growth In an encouraging indication of a steady, even if slow progressive pace, the Nigerian economy is emerging out of recession. According to a press statement by the Senior Special Assistant to...

The Nigerian Bureau of Statistics INBS) said on Tuesday that the nation's economy shrank by 0.52 per cent year-on-year in the first quarter, having contracted 0.67 percent in the same quarter of 2016. According to NBS at the end of the first quarter of 2017, the nation’s Gross Domestic Product...

The Federal Government has approved a new interest rate spread on unpaid taxes for the year 2017. According to the Minister of Finance, Mrs. Kemi Adeosun, the new interest rate shall be 5 per cent over the Central Bank of Nigeria’s Minimum Re-Discount Rate (MRR) for the year 2017. She...

Some financial experts on Monday called for a downward review of the Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) to 12 per cent from 14 per cent, to enhance economic recovery. They told the News Agency of Nigeria (NAN) in separate interviews in Lagos that the Cash...

The Central Bank of Nigeria (CBN) is likely to continue its tight monetary policy as well as targeting convergence as the Monetary Policy Committee (MPC) begins its two-day meeting today. The CBN Deputy Governor, Dr. Joseph Nnanna has given a hint that the apex bank may retain its tight monetary...

*Ag President holds interactive session with a large cross section of public, civil servants this week The Buhari administration will drive the new executive orders signed last week vigorously in its determination to significantly transform the business environment and how government business is done in the country. The Spokesperson of...

Nigeria can build on the oil-driven economic recovery anticipated for it in 2017 by strengthening its macroeconomic policy framework and implementing the structural reforms needed to diversify the economy and break out of a boom and bust cycle, according to the World Bank’s newly-released Bi-annual Economic Update. In 2016, Nigeria...

Development Bank of Nigeria (DBN), a new state-backed lender, aims to make up to 20,000 new loans to small firms within its first year of operation as part of efforts to help unlock credit to the recession-hit economy, its chief executive Tony Okpanachi said. Africa's biggest economy is in its...

In exercise of the presidential authorities vested in the Executive arm of government, Acting President Yemi Osinbajo, SAN,on Thursday in Abuja signed three executive orders that will significantly change some of the ways government business and operations are conducted in the country forthwith. Ahead of the signing, the Acting President...