Nigerian economy to contract by 3.5% – McKinsey

Nigerian economy to contract by 3.5% – McKinsey

By Omobayo Azeez Doom has been spelled on the Nigerian economy, which according to McKinsey & Company, could contract as much as 3.5 percent in 2020 even if the country  manages to curb the spread of coronavirus (COVID-19). According to the New-York based global consulting firm, this translates to a decline of almost 6 per […]

Otunuga highlights naira’s fighting chance amidst hiked CRR, other issues

  The impact of local and major global events on Nigeria’s economy is not particularly favourable this week. This is according to Lukman Otunuga, FXTM’s senior research analyst. Otunuga, in a commentary made available to business a.m Monday, said he sees the naira- Nigeria’s currency- struggling amidst several issues arising in the course of the […]

AfDB identifies 14 sites for agro-industrial processing zones in Nigeria

The African Development Bank (AfDB) African Development Bank (AfDB) says it has identified 14 sites for the proposed special agro-industrial processing zones (SAPZs) in Nigeria. Banji Oyelaran-Oyeyinka, special adviser on Industrialisation to AfDB’s president, Akinwumi Adesina disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday. He said that […]