ECONOMY

The Nigerian Labour Congress (NLC) has advised President Muhammadu Buhari to seek the advice of indigenous economists to generate the necessary ideas and policies that will provide solution to the economic recession in the country. The President of NLC, Comrade Ayuba Wabba, gave this advice yesterday in Abuja,stressing that the...

Reprieve may soon come the way of businesses that have been crippled by the 41 items placed on forex prohibition list by the Central Bank of Nigeria (CBN) as the Federal Government is considering removing the list from monetary policy space and place it on fiscal policy space. According to...

    ...demands sacking of Economic Team ...wants Nigeria saved from collapse   Kogi State Senator, Otunba Dino Melaye, on Sunday expressed concern over the economic recession with a call on President Muhammadu Buhari to sack members of his economic team and constitute a new team. Among the economic team...

Some group of experts at Moody’s disclosed that the country inflation rate is expected to close the year at 18 per cent. Presently, The National Bureau of Statistics (NBS) for the month of July said inflation rate increased from 16.5 per cent in June to 17.2 per cent in July....

Financial Derivatives Company (FDC), in its monthly report for the month of August has said that the report by the National Bureau of Statistics (NBS) on Wednesday that the country is now in a recession, has put the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) under...

  forecasts 4.7% GDP growth in 2017 Nigeria will need to undergo painful reforms to come out of the present economic crisis. This was asserted in a recent report by Business Monitor International (BMI) a Fitch Group company, in its fourth quarter Country Risk Report focused on Nigeria, which includes...

Some industry analysts have warned the Federal Government on the possibility of the recent announced recession blowing into full depression, if spending on infrastructure is not increased. Financial experts, who spoke exclusively to Business247 News Online, following the declaration by the Nigerian Bureau of Statistics (NBS) that Nigeria economy  is...

The monthly Purchasing Managers’ Index (PMI) of the Central Bank of Nigeria (CBN) for the month of August released on Wednesday has shown that the Manufacturing PMI declined to 42.1 index points in August 2016, compared to 44.1 in the preceding month, implying that the manufacturing sector declined at a...

The Peoples Democratic Party (PDP), the main opposition party in Nigeria, has called on President Muhammadu Buhari to resign, accusing his administration of incompetence as the nation has been confirmed by the latest statistics from the National Bureau of Statistics (NBS) to be in economic recession. The party on Wednesday...

  AfDB warns African countries against borrowing The Federal Government has approved a three-year plan to borrow more from abroad, Finance Minister Kemi Adeosun said on Wednesday after the economy slipped into recession for the first time in more than 20 years. According to Reuters’ report monitored by Business247 News...