Report details contributions of FPS sector to Nigeria’s economic growth
Post AMUGE
January 2, 2024
EnterpriseNGR says banking, insurance, capital markets, others facilitated growth in 2022 PHILLIP ISAKPA IN MANCHESTER, UK A new report by EnterpriseNGR, a professional policy and advocacy group, has produced data showing that the resilience demonstrated by the financial and professional services (FPS) sector of the Nigerian economy, which allowed the sector to experience growth across […]
World Bank warns of worsening insecurity and economic hardship in 7 Nigerian states
Post AMUGEDecember 28, 2023
Persistent insecurity, armed conflict, and deteriorating livelihoods in the Nigerian states of Borno, Kaduna, Katsina, Sokoto, Yobe, and Zamfara, as well as the far north of Adamawa State, are likely to continue until May 2024. This is as poor macroeconomic conditions are hampering access to agricultural inputs in Nigeria, which is expected to negatively impact […]
NBS reports 4.2% increase in unemployment rate in Nigeria
Post AMUGEDecember 21, 2023
Business a.m Nigeria’s unemployment rate rose to 4.2 per cent in Q2 2023 from the 4.1 per cent recorded in Q1 2023, quarterly Labour Force Survey (LFS) for Q2 2023 published by the National Bureau of Statistics (NBS). According to the NBS, the unemployment rate is the percentage of the labour force that is actively […]
NTU-Centre for African Studies sees potential for Nigeria to become a top 20 economy
Onome AmugeNovember 28, 2023
Onome Amuge A new report by the NTU-SBF Centre for African Studies, has shown that Nigeria has the potential to achieve not only economic growth, but also 7% GDP growth and become one of the top 20 economies in the world. The report outlines a path for the country to achieve this, with […]
Lagos loses N4trn revenue to poor traffic management
LASTMANovember 27, 2023
Onome Amuge Lagos State’s poor management of traffic congestion is costing it N4 trillion annually in lost revenues, the results of a recent study have shown. The study by Danne Institute for Research noted that the traffic congestion is not only causing economic losses, but also leading to increased pollution, increased stress levels, and lower […]
Services sector drives 2.54% GDP growth in Q3 2023
Business a.m.November 24, 2023
Business a.m Nigeria’s gross domestic product (GDP) increased 2.54 per cent year-on-year in real terms in the third quarter of 2023,slightly above the 2.25 per cent recorded in the third quarter of 2022 and the 2.51 per cent in the second quarter of 2023. The growth of Nigeria’s economy in the third quarter of 2023 […]
Old naira banknotes remain valid indefinitely, says CBN
Business a.m.November 15, 2023
Business a.m The Central Bank of Nigeria has announced its intention to extend the validity of the old N200, N500, and N1,000 notes indefinitely. This announcement comes in light of a subsisting court ruling on the same subject, and the bank has indicated that it is working with relevant authorities to address the matter. The […]
Nigeria’s inflation rises in 10th consecutive month to 27.33% in October
Onome AmugeNovember 15, 2023
Onome Amuge The continued depreciation of the naira and rising food and fuel prices has led to a tenth consecutive surge in Nigeria’s inflation rate which increased from 26.72 per cent in September 2023 to 27.33 per cent in October 2023,according to the latest figures from the Nigerian Bureau of Statistics (NBS). On […]
LAWMA points youngsters to sustainability, investment opportunities
Business a.m.November 14, 2023
Business a.m. Arguably Nigeria’s leading waste management entity, the Lagos State Waste Management Authority (LAWMA) is pushing the subject to young people to bring them on board early on. And to get them interested and keen, its senior executives are taking time out of their busy schedules of keeping Lagos clean and healthy for […]
Nigerian Ports Authority unveils $1bn rehabilitation plan
Business a.m.November 8, 2023
Business a.m In an effort to enhance Nigeria’s trade competitiveness, the Nigeria Port Authority (NPA), has announced a $1.1 billion investment to rehabilitate all ports in the country in the first quarter of 2024. Mohammed Bello-Koko,NPA’s managing director, made the disclosure during a panel session at the 43rd Annual Council Meeting of the Port Management […]