The Nigerian economy faced a lot of challenges in the outgoing year amid a slowing global economy, elevated geopolitical risks and fragile investor sentiment, writes Obinna Chima
Notwithstanding the positive Gross Domestic Product (GDP) numbers recorded by the country in 2019, the economy is still not out of the woods yet.
The economy hit a lot of bumps in the road in the outgoing year and the way forward is unlikely to get any smoother.
From concerns of political risks prior to the 2019 elections that took place in the first quarter of the year, the country’s broadening fiscal deficit, …
He said that the regime would put Nigeria in line with global practice adding that the system would be transparent and that security would not be compromised.
“The e-visa policy will encourage investors to
The Nigerian government is keen to open up new opportunities to earn more monies, and to do this, it sent a finance bill to the National Assembly. The bill is essentially a fiscal bill and it is driven by the objective of generating additional revenues for the Government to potentially partly finance the deficit in the 2020 Budget. Nosa James-Igbinadolor examines the bill
The latest World Bank report on Nigeria is blunt and bleak. The report shows that economic growth remains muted, with growth averaging 1.9 per cent in 2018 and plateauing to 2 percent in the first half of …
Former President of Nigeria, President Olusegun Obasanjo has listed integrity and trust as important elements in managing credit-based economies.
Obasanjo, who stated this at the Annual Induction/Nigeria Credit Industry Award 2019 of the Instititute of Credit Administration (ICA) said that today, there is strong credit availability in finance world for development-oriented programmes including those in agribusiness, education and the provision of infrastructure.
Read Also: 2023: Southeast Needs To Work Hard For Presidency –Nwaka
“ To be successful player in this space, we must demonstrate trust and ability to manage creditlines judiciously, corruption free so that future generations of Nigerians who …
The positive Gross Domestic Product numbers achieved in the third quarter of 2019 calls for more complementary fiscal and monetary policy to enhance macroeconomic growth, writes Obinna Chima
Last week, the National Bureau of Statistics (NBS) released the Gross Domestic Product (GDP) report for the third quarter (Q3) of 2019, which showed that GDP expanded to 2.28 per cent (year-on-year), in real terms, in the period under review, compared to the 2.12 per cent recorded in the preceding quarter.
The latest GDP performance was the second highest quarterly rate recorded since 2016.
The report also showed that aggregate GDP for …
Prof. Aliyu Jauro is a professor of Industrial Chemistry and sits atop the National Environmental Standards and Regulations Enforcement Agency (NESREA) as director-general/CEO. NESREA is the agency of government responsible for the protection and development of the nation’s environment, biodiversity conservation and sustainable development of Nigeria’s natural resources. Jauro is keen on Nigeria developing a circular economy that works for its citizens. He speaks with Nosa James-Igbinadolor
How will you describe the state of the Nigerian environment with respect to the work of NESREA?
Well, I wouldn’t say our environment is doing great at all, neither will I say …
Hoping to succeed where earlier Arab Spring revolutions have struggled, the new government of Sudan is seeking support to build a youth-focused economy through fundamental reforms and a new safety net, its finance minister says.
In an interview with AFP in Washington, Finance Minister Ibrahim Elbadawi voiced hope that Sudan by year-end will see the end of one of its biggest impediments — its continued classification by the United States as a state sponsor of terrorism.
Sudan’s month-and-a-half-old government is seeking to start a new course for the African country after demonstrators, driven initially to the streets by high food …
The Chief Executive Officer of Jumia Nigeria, Juliet Anammah has identified access to quality education as the key to managing huge population for a productive economy. She, therefore, called on the federal government to leverage technology to manage its huge population for a productive economy.
According to her, there is a need for policies that support micro industries in order to tackle unemployment. “Providing unemployed youths with internet-enabled smartphones is one of the infrastructure that could take millions out of unemployment,” she said.
Anammah made this disclosure while speaking as a panel member at the 25th Nigerian Economic Summit in …
•Restates need for reforms to boost low per capita income
•WEO says GDP growth to remain lacklustre in 2019
The International Monetary Fund (IMF) yesterday reiterated its support for the ongoing tight monetary policy stance that had been adopted by the Central Bank of Nigeria (CBN) in the past few years.
The Chief Economist and Director of Research Department, IMF, Gita Gopinath, said this while responding to a reporter’s question, during a media briefing on the October 2019 World Economic Outlook (WEO), at the ongoing IMF/World Bank Annual Meetings in Washington DC.
She said the development bank supported the CBN’s …
Stakeholders yesterday warned the Federal Government that the complete closure of the nation’s land borders portends danger to the economy.
The caution came after yesterday’s announcement by Comptroller-General, Nigeria Customs Service (NCS) Hameed Ali that all categories of goods would no longer be allowed to pass through the borders.
At a joint news conference with his Nigeria Immigration Service counterpart, Mohammed Babandede, in Abuja, Ali said: “For now, all goods, whether illicit or non-illicit, are banned from going and …
Going by the capital importation report released for the first quarter of the year by the National Bureau of Statistics (NBS), $8.5 billion came into the economy between January and March.
The report released yesterday showed that the first quarter figure represents 216.03 per cent increase when compared with data for the fourth quarter of last year and 34.61 per cent rise when compared to the first quarter 2018 figure.
“The total value of capital importation into Nigeria stood at $8,485 million in the first quarter of 2019. This represents an increase of 216.03 per cent compared to fourth quarter …
