ECONOMY

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...

The foreign reserves dropped by $207 million in eight days following the intervention by Central Bank of Nigeria (CBN) in the foreign exchange market. According to data from CBN’s website, foreign reserves that was at $30.99 billion on May 4, 2017 moved to $30.78 billion on May 15, 2017. For...

The Senate has given the Federal Government fresh conditions upon which it would consider and approve its $5.8 billion loan request from the China Exim Bank. The Federal Government had requested the sum for the construction of Standard Guage lines from Lagos-Kano, Kano-Kaduna, Lagos-Ibadan, and Lagos Calabar. While considering a...

National Bureau of Statistics (NBS) said inflation in eased for the third straight month in April, inching down to 17.24 per cent from 17.26 per cent in March. A separate food price index, however, showed inflation there rose to 19.30 per cent from 18.44 per cent in March. According to...

The Economic Recovery and Growth Plan (ERGP), recently launched by the Federal Government, needs a robust roll-out plan. This was the assertion of Mr Olufemi Awoyemi, CEO of Proshare . Awoyemi was a guest at the Channels Television business program “Business Morning on Monday. Awoyemi sharing his perspective on the...

The foreign reserves fell by $46.5 million in nine days following the rapid intervention by Central Bank of Nigeria (CBN) in the foreign exchange (FX) market. Data from CBN’s website revealed that foreign reserves opened May 2017 at $30.9 billion to $30.86 billion as at May 11, 2017, translating into...

Former Central Bank Governor and professor of Economics, Prof. Chukwuma Soludo has said that President Muhammedu Buhari inherited a bad economy from the previous Goodluck Jonathan’s administration on 29th May 2015 and made it worse. He made this known to newsmen at ‘Big Ideas Podium’, a public policy debate organised...

The National Assembly (NASS) on Thursday passed Nigeria’s 2017 N7.44 trillion naira ($24.4 billion) budget. The lawmakers said the passage of the budget was to finally end recession in the country, the first after another in 25 years in the country. AP reports quoting Senate President Bukola Saraki to the...

The Federal Ministry of Finance has released details of the N1.2 trillion capital releases made in the 2016 Budget as it now closes. In consequence, the Federal Government is said to have increased focus on capital expenditure going by its policy, thus the following releases were made: Power, Works and...

‎ A former governor of the Central Bank of Nigeria (CBN), Prof. Charles Soludo, has said the CBN’s official exchange rate of N306 to the dollar has become redundant. Soludo who said this on Wednesday in a keynote address he presented at the eight annual Pan-Africa Investor Conference organised by...