Economy Contracted In May - CBN Report   Economic activities in manufacturing, production, new others and other indices contracted in May after recording at least 36 months of consecutive growth. The statistics department of the Central Bank of Nigeria disclosed this in its Purchasing Managers Index survey...

‘COVID-19 Dropped Lagos Economy By N2.3trn’   Lagos State Commissioner for Economic Planning and Budget, Sam Egube in company of his counterpart in Information and Strategy, Gbenga Omotoso, at a briefing, spoke on the government’s response to the impact of the coronavirus pandemic and the adjustments...

Economy May Contract In Q2, NECA Warns     The Nigeria Employers Consultative Association has called on the fiscal and monetary authorities to develop a more aggressive and decisive policies to sustain economic recovery in the wake of further decrease in oil price. The Director-General of NECA, Dr...

Nigeria’s $37bn Foreign Reserves Adequate To Support Economy – Emefiele   The Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele, has assured that Nigeria’s $37bn current foreign reserves is “robust to support the economy.” Emefiele, was quoted in a statement issued by the apex...

Oil Crash: Is Nigeria's Economy in 'Soup'? By Rahma Oladosu   Can we agree less with Wall Street Journal (WSJ)? The American-owned and world-famous media organisation, in a recent report said, as economic pain ripples to the developing world, Nigeria’s dependence on oil puts its economy under...

Tinubu To CBN: Cut Interest Rates To Boost Economy   The National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, has said the Central Bank of Nigeria should seize the opportunity of the coronavirus crisis to lower interest rates in a bid to boost the...