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Economy
IMF warns Nigeria and other emerging economies of “doom loop”

IMF warns Nigeria and other emerging economies of “doom loop”

The Washington based lender, International Monetary Fund, has raised concerns about a potential “doom loop” for Nigeria and other emerging economies. This was disclosed in a recently released IMF report, titled “Emerging-Market Banks’ Government Debt Holdings…

Economy
Nigeria’s domestic debt service gulps N2.1tr in 2021

Nigeria’s domestic debt service gulps N2.1tr in 2021

Nigeria spent a sum of N2.05 trillion to service its domestic debts in the year 2021, representing an increase of 10.8% compared to the N1.85 trillion incurred in the previous year. This is according to…

Economy
Oil-producing states get N448b in 2021 as 13 per cent oil derivatives 

Oil-producing states get N448b in 2021 as 13 per cent oil derivatives 

Oil-producing states in Nigeria received a sum of N448.67 billion as part of their 13% oil derivatives for the year 2021, representing a 5.8% increase compared to N424 billion shared in the previous year. This…

Economy
Nigeria’s inflation rate rises to over 15 per cent in December, says NBS

Nigeria’s inflation rate rises to over 15 per cent in December, says NBS

Nigeria’s inflation rate in the month of December 2021 rose to 15.63% from 15.4% recorded in November 2021, after 8 months of consecutive decline. This is according to the consumer price index report, released by…

Economy
Global economists predict stagflation for Nigeria

Global economists predict stagflation for Nigeria

lobal economists have predicted a 12% inflation rate and an 8.2% economic growth rate for Nigeria in 2022, the third worst inflation rate out of over 32 countries surveyed by Bloomberg. Nigeria was third from…

Economy
UK and S/Africa account for 65 per cent of Nigeria’s capital inflow in 9 months

UK and S/Africa account for 65 per cent of Nigeria’s capital inflow in 9 months

The United Kingdom and South Africa led the list of source countries for Nigeria’s capital inflows between January and September 2021, jointly accounting for 64.9% of the total capital importation recorded by Nigeria in the…

Economy
World Bank predicts 2.5 per cent growth for Nigeria in 2022

World Bank predicts 2.5 per cent growth for Nigeria in 2022

As the global economy is predicted to decelerate by up to 4.3 per cent in 2022, Nigeria and other countries facing debt sustainability challenges may face reduced access to external funding, forcing abrupt fiscal adjustment,…

Economy
CBN forecast GDP growth rate of 3.2 per cent in 2022

CBN forecast GDP growth rate of 3.2 per cent in 2022

The Central Bank of Nigeria is forecasting a GDP growth rate of 3.2% in 2022. This is according to CBN Governor Godwin Emefiele. Mr. Emefiele made this remark as part of his personal statements at…

Economy
FOREX inflow surges by 64 per cent to $30 billion in Q3 2021

FOREX inflow surges by 64 per cent to $30 billion in Q3 2021

The amount of foreign exchange that came into Nigeria in Q3 2021, skyrocketed by 64% to $30.18 billion compared to $18.4 billion recorded in the previous quarter. A surge which is attributed to newly acquired…

Economy
Buhari appoints Doyin Salami as economic adviser

Buhari appoints Doyin Salami as economic adviser

President Muhammadu Buhari has appointed a foremost professor of economics, Doyin Salami, as his Chief Economic Adviser. Until his appointment, which was announced by Buhari’s Special Adviser on Media, Mr. Femi Adesina in a statement…