ECONOMY

Just as financial experts predicted, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) which met on Monday the 20th and Tuesday, 21st of March, 2017 decided to retain the policy rates. In attendance at the meeting were 10 members of the committee who assessed the global...

The Minister of Finance, Mrs Kemi Adeosun has deemed it necessary to address the issue of Paris Club Refunds and wishes to assure the public that the Federal Government has consistently complied with all extant rules and regulations in the disbursement of the Paris Club refunds to State Governments. The...

The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele has called for collaboration between the country’s monetary and fiscal authorities to work in harmony to accelerate nation’s economic development. The apex bank boss made the call in a statement signed by CBN’s acting Director, Corporate Communications on Sunday...

The National Bureau of Statistics (NBS) has said that the Federation Account Allocation Committee (FAAC) disbursed N430.16 billion to the three tiers of government in January from the revenue generated in December 2016. The report by NBS said the amount disbursed comprises of N248.72 billion from the Statutory Account; N52.85billion...

The World Bank Group says Nigeria will soon recover from economic recession. Country Manager, International Finance Corporation, a member of the World Bank Group, Mrs Eme Essien-Lore, made the observation in an interview with the News Agency of Nigeria (NAN) in Lagos on Thursday. ”In our perspective and with the...

Following an improved credit facility to the corporate sector in first quarter of 2017 (Q1 2017), The Central Bank of Nigeria (CBN) has anticipated improved performance in second quarter (Q2) of this year. The CBN’s Credit Conditions Survey Report for first quarter of 2017, said major factors will contribute to...

*NEC to hold Special Meeting soon on National Security Concerns After a briefing by the National Security Adviser to the President, Major-General Babagana Monguno, members of the National Economic Council (NEC) praised the Federal Government’s Social Investment Programmes noting its potential role and significance in enhancing the security of the...

The National Bureau of Statistics (NBS) on Tuesday came out with statistics which revealed that inflation rate has dropped to 17.78 per cent in February, 0.94 per cent below 18.72 per cent in January this year. The Bureau said the decline represents the first time drop in 15 months following...

Nigeria Employers Consultative Association (NECA) has called on the Federal Government to see to full implementation of the Economic Recovery and Growth Plan (ERGP) recently released by the Federal government. NECA’s President, Larry Ettah, said ERGP will provide some assurance to domestic and foreign stakeholders on the policy direction of...

The National Bureau of Statistics (NBS) has revealed in its unemployment report for the fourth quarter (Q4) 2016 that 3.67 million Nigerians lost their jobs in the year. Also, the number of people are unemployed the country rose from 7.51 million at the beginning of October 2015 to 11.19 million...