Subdued spending, unemploymemt caused by the continued inflation – FBNQuest

January 1, 2020

NITDA kicks as LIRS publishes private data of Lagos taxpayers

As inflation goes on the uptick in Nigeria after a fall, analysts have said the rising inflation trend will lead to subdued spending, , rising unemployment  and falling living standards, analysts at FBNQuest in a note titled’Inflationary pressure, impacting wallets, pointed out that food onflation had been the primary driver for acceleration of headline inflation […]

Inflation may rise in coming months – LCCI

December 6, 2019

Inflation may rise in coming months, LCCI warns

The Lagos Chamber of Commerce and Industry has warned that the nation’s inflationary trend may move higher in the coming months from the current 11.64 per cent as the nation continues to shut its borders to its West African neighbours. The National Bureau of Statistics at the end of October 2019 had announced that the […]

Nigeria has not flouted ECOWAS pact over border closure – DTBE

November 4, 2019

Nigeria has not violated the free movement of people guaranteed under the Economic Community of West African States (ECOWAS) Treaty over its decision to close land borders to reduce crime, especially smuggling. This was part of the resolutions of the Daily Trust Board of Economists’ emergency meeting in Abuja contained in a communiqué signed by […]

Nigeria to keep borders closed until January, 2020

November 3, 2019

Nigeria to keep borders closed until January, 2020

The continued lack of activities around the Nigeria borders has resulted in serious economic concerns for the citizens of the country. Imported commodities have surged in values. As well, business owners are finding it hard to bring about profitable trading. The price instability has led some citizens to call for the reopening of the closed […]

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

Businessam StaffAugust 6, 2019

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 […]

Nigeria to emerge second largest rice importer in 2019-USDA

November 28, 2018

Nigeria’s rice imports will jump 13 percent next year to 3.4 million metric tons, making Africa’s most populous country the world’s biggest rice importer after China, according to the U.S. Department of Agriculture. “China and Nigeria are projected to remain the largest rice importing countries in 2019, followed by the EU, Cote d’Ivoire, and Iran,” […]

ECA to work with member states on improving social-economic wellbeing of Africa

Businessam StaffJuly 25, 2018

Domestic Resources,ECA

The Economic Commission for Africa (ECA) primary focus is to support member states in their quest for sustainable development that promotes inclusive prosperity, economic opportunity and greater social wellbeing, says Sylvain Boko, principal regional advisor on planning and statistics at the ECA’s capacity development division. Speaking at the beginning of a two-day National Policy Dialogue […]

DHL, MallforAfrica join forces to take African products to global markets

Justice OkamgbaJuly 16, 2018

DHL

Global express services provider, DHL, has announced a partnership a trangement with e-commerce giant, MallforAfrica’s new platform, Marketplace Africa, to help online retailers bring African-made products to the US and global market. According to a statement issued Monday by DHL, the partnership is geared at removing the barriers of isolation which African crafts people experience […]

A little inflation will not hurt Nigeria’s economy, investment analyst says

Adesola AfolabiMay 28, 2018

The hawkish monetary policy stance of the Central Bank of Nigeria (CBN) by holding benchmark lending rate constant at high 14 percent for almost two years based on the need to ensure sustained price and foreign exchange stability is having detrimental impact on productivity, according to Lekan Shitta-Bey, an investment banking analyst and managing consultant […]