ECONOMY

The Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) has finally increased interest rate from 12 per cent to 14 per cent. The MPC meeting which began on Monday and came to an end in Abuja today was to grapple with the nation’s economy that has  faced challenges...

*Describes remittances as key contributor to nation building. The Federal Government has called on Nigerians in the Diaspora to see the current economic realities in the country as good opportunities for them to participate actively in the ongoing efforts to reposition the nation’s economy. The Minister of Finance, Mrs Kemi...

  Recession, rising inflation, review of new forex regime may top agenda Wole Tokede. As the 251st edition of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meeting begins today, Monday, July 25, 2016, rising inflation, how to tackle the threat of recession and the review...

For the nation’s economy to rebound, the General Secretary, Association of Stockbroking Houses of Nigeria (ASHON), Mr. Akinsola Akeredolu-Ale, has said that government should understand that it does not have any affair in running the economy but to provide policy and security. According to him, government does not have any...

Nigeria will start borrowing abroad in the third quarter, Finance Minister Kemi Adeosun said on Thursday, in the wake of the central bank's decision to float the naira last month. According to Reuters’ report monitored by Business247 News Online, the government has said it plans to borrow up to $10...

Minister of Finance, Mrs Kemi Adeosun, on Thursday assured Nigerians that the nation would only face a short recession if the nation’s economy contracts again in the second quarter as the removal of fuel subsidies and policies to lower dependency on oil will pay off. It would be recalled that...

The Senate has decried the current cash call indebtedness of Nigeria National Petroleum Corporation (NNPC) Joint Venture, which has risen to over $6 billion (about N1.8 trillion). It also noted that the issue had become a huge problem staring the nation’s economy in the face. According to the Senate, investigation...

The Nigerian Content Development Monitoring Board (NCDMB) and the Bank of Industry (Bol) on Tuesday sealed a $100 million Nigerian Content Intervention Fund (NCI Fund) which is expected to bring Nigeria’s oil and gas industry into a new phase of development. The NCI Fund is a pool made available by...

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Tuesday declared that the strategic health of the country’s financial system was still strong. He also painted a gloomy picture of the sharp decline in the price of oil and commodity prices to the country’s economy. Emefiele spoke...

The International Monetary Fund (IMF) has said that it expects Nigeria’s economy to contract by 1.8 per cent this year as against its forecast in April that it would record an expansion of 2.3 per cent adding that a combination of factors such as plunging oil revenues and weakened investor...