Report: Africa Accounts for 55% of World’s Poor, Says ECA The Chief Economist at the Economic Commission for Africa, Hanan Morsy, revealed that Africa currently accounts for more than half of the World’s poor at 54. 8 per cent. Morsy said this at the 55th session...

AfDB, Afreximbank Reports Reveal $5bn Capital Outflow In 2020       The African Trade Finance Survey report has revealed that there were massive capital outflows from Africa, exceeding $5bn in the first quarter of 2020. The report by the African Export-Import Bank, in collaboration with the United Nations...

Lockdown: Africa Loses $65.7bn Monthly - ECA     The Economic Commission for Africa (ECA) has released a new report proposing to African nations various COVID-19 exit strategies following the imposition of lockdowns that helped suppress the spread of the COVID-19 in the region but with devastating...

Economists Urge Nigeria to Sign AfCFTA Nigeria has been called upon to reconsider its reluctance to sign the African Continental Free Trade Area (AfCFTA) agreement, some economic analysts said in separate interviews in Addis Ababa. The analysts argued that AfCFTA is in the national interest of...

Govt Revenue Reduced By N77bn As ECA Shrinks To $1.83bn       After two days of disagreement between the 36 states’ commissioners for finance and the Nigerian National Petroleum Corporation over alleged revenue underpayment, the Federation Account Allocation Committee finally distributed the sum of N626.82bn to the...

The Federal Government withdrew the sum of N359.39bn from the Excess Crude Account in 2015 to fund the payment of petroleum products subsidy in 2015, the Fiscal Responsibility Commission has said. The FRC said this in a report on the Excess Crude Account obtained by...