Foreign Investments in Manufacturing Hit $861m   Total inflow of foreign investments into the Nigeria’s manufacturing sector increased by 88.17 percent year-on-year (YoY) to $861.16 million in the first half of 2023 (H1’23) from $457.66 million in the corresponding period of 2022 (H1’22). This also indicates 75.47...

CBN Slashes Cash Mop by 82% to N150bn   In a bid to stimulate economic growth worsened by unprecedented rise in prices of goods and services, the Central Bank of Nigeria (CBN) reduced its cash mop up operation by 82 per cent to N150 billion in...

Nigeria Borrowed $1.21bn as 28 States Failed to Attract Foreign Investments     Nigeria relied on foreign borrowing ($1.21bn) to boost its capital importation in the first six months of 2023. This is as 28 states failed to attract any foreign investments in the time under review, according...

FG Targets 350GW of Electricity by 2043 The Federal Government plans to achieve a target of 350 gigawatts of electricity-generating capacity by 2043. The Minister of Budget and Economic Planning, Abubakar Bagudu, said this when top management staff of the Nigerian Electricity Management Service Agency visited...

In Q2, Nigerians Preferred Netherlands for Export   A trade report by the National Bureau of Statistics (NBS) has indicated that The Netherlands maintained its lead as the top export destination of Nigerian goods in the second quarter of 2023. The report titled: “Commodity Price Indices and...

Insurance Firms, Banks Others Contribute N1.72trn To Economy   Banks, insurance companies and other financial institutions contributed N1.72 trillion to the nation’s real Gross Domestic Product (GDP) in the first half of the year, H1’23. This represents 27 percent year-on-year YoY growth from the N1.35 trillion contributed...