Lockdown, Physical Distancing Almost Shut Down Economy – FG     The lockdown and physical distancing measures that were implemented to curb the spread of COVID-19 in Nigeria almost led to a complete shutdown of economic activities across the country, the Federal Government said on Sunday. In her...

Rising COVID-19 Cases, Weak Economy Take Toll On Stock Market     The increasing number of coronavirus, (COVID-19) cases and the consequent weakening of the nation’s economy have taken the Year-to-Date, YtD, loss to investors in the Nigerian Stock Exchange to -9.5%. Return on investment represented by the...

Nigerians Believe Rising Inflation’ll Weaken Economy – CBN     Many Nigerians believe that rising inflation will lead to a weaker economy, according to a survey by the Central Bank of Nigeria. The Statistics Department of the CBN disclosed this in its ‘Q2 2020 Inflation Attitudes Survey Report’,...

Business Operators Lack Trust In Economy, CBN Report Reveals   Business operators in different sectors showed a lack of trust in the economy in June, a new report by the Central Bank of Nigeria showed on Thursday. The CBN’s Statistics Department’ disclosed this in its ‘June 2020...

IMF Further Reduces Nigeria’s Growth Rate By 5.4%     The International Monetary Fund has downgraded Nigeria’s 2020 growth projection, saying the economy will shrink by 5.4 per cent. The IMF had in April 2020 projected that the country’s economy would contract by 3.4 per cent this year. The...

Credit To Economy Rises To N39trn In Five Months   Credit to the economy rose by 10.1 percent or N3.5 trillion in five months to N39.1 trillion in April 2020 from N35.5 trillion in November last year. The Central Bank of Nigeria, CBN, disclosing this in its just...