#EndSARS Protest Disruption Costs Economy N1.5trn       The economic cost of the #EndSARS protest disruption is estimated at N1.5tn, approximately 1.03 per cent of the GDP and 11.47 per cent of the 2021 budget, Financial Derivatives Company Limited has said. “This suggests that the economic recovery path...

Rising Debt Servicing Cost Can Impede Growth – CBN       The Central Bank of Nigeria has expressed concern over the rising cost of debt service being incurred by the Federal Government. The CBN, in its half-year 2020 economic report, said the trajectory of Federal Government’s debt further...

IMF Reverses Forecast For Nigeria’s Economy To -4.3% In 2020       The International Monetary Fund, IMF, Tuesday reversed Nigeria’s economy growth projection to -4.3 percent in 2020 from its earlier projection of -5.4 percent. The Fund also projected that Nigeria’s economy would grow by 1.7 per cent...

Economy Loses N900bn Credit, Private Sector Stagnates At N30trn       Credit to the economy fell by N900 billion or 2.27 percent in August driven by slump in credit to the government during the month. The Central Bank of Nigeria (CBN) disclosed this in its Depository Corporation...

Economy'll Recover In Q1 2021, Says Minister     The Federal Government has predicted that the economy will rebound to positive territory in the first quarter (Q1) of 2021. Minister of Finance, Zainab Ahmed made this prediction when board members of the Federal Inland Revenue Service (FIRS) paid...

Recession Will Be Short-lived — Finance Minister     The Central Bank of Nigeria, CBN, yesterday, directed licensed bureaux de change operators to sell dollars to customers at a rate not higher than N386 to the dollar. This came as the Federal Government, yesterday, said despite the N2.3...