ECONOMY

The National Bureau of Statistics (NBS) has said that Consumer Price Index (CPI) which measures inflation has reached a record high of 17.61per cent in August, 0.5 per cent points higher from 17.1 per cent in July. In its Consumer Price Index (CPI) report released today, NBS stated that increases...

  Having seen two consecutive quarters of slow growth in Nigeria, which has pushed the country’s economic into recession, some financial analysts in the country have warned the Federal Government that Nigeria may continue to wallow in economic recession until 2020 except the government return all the money from the...

The Central Bank of Nigeria (CBN) has disclosed ongoing plans to extend Bank Verification Number (BVN) registration project to customers of Other Financial Institutions (OFIS) such as Microfinance Banks (MfBs), Primary Mortgage Institutions (PMIs), among others. CBN Director, Banking and Payment Systems Department, ‘Dipo Fatokun who disclosed this at the...

The Central Bank of Nigeria (CBN) has assured Nigerians that the country would be out of the current economic recession earlier than expected even as it urged Nigerians to take advantage of the numerous policies, initiatives and programmes by the bank to cushion the effects of the biting economic recession...

This was contained in a circular issued by the office of the Minister of State for Budget and National Planning, Zainab Ahmed, to all Ministries, Departments and Agencies. The circular which was released in Abuja was in accordance with the 2017-2019 Medium Term Expenditure Framework and Fiscal Strategy Paper. It...

Entertainment entrepreneur and lawmaker representing Bayelsa Central Senatorial District, Senator Ben Murray Bruce, has said that the “hurried implementation” of the Treasury Single Account (TSA)  may be one of the reasons the country is in economic recession. According to the law maker in his Twitter handle on Thursday regretted that...

Presidency has approved plans for external borrowing from the World Bank, China and Japan. According to Bloomberg report monitored by Business247 News Online, Nigeria will take on debt from institutions including the World Bank, African Development Bank, Japan International Cooperation Agency and Export-Import Bank of China, the presidency commented on...

   Confirms IGP, six new INEC Commissioners, The National Council of State today, Wednesday, September 7, 2016 said that it has approved the steps being taken by the Federal Government to revive the economy. The council also approved the appointment of six commissioners for the Independent National Electoral Commission even...

The National Bureau of Statistics (NBS) report on Tuesday has shown that Nigeria merchandise trade statistics for the second quarter of this year recorded a 49 per cent increase in trade from N2.65 trillion in the first quarter to N3.94 trillion. The bureau in the report made available to our...

The report from the Economists at Stanbic IBTC Bank has shown that Nigerian business conditions had worsened for the sixth time in seven months in August 2016 as Nigeria’s private sector was firmly entrenched in a downturn during the period. The severity of the contraction was highlighted by employment data,...