Experts Groan As Buhari Hands Over Struggling Economy   The current regime inherited a frail economy. Despite Nigeria’s economy growing by over six per cent in 2014, economic growth slowed to about three per cent by 2015 – reported as the lowest in the democratic era....

Nigeria’s Foreign Reserves Decline By $1.82bn In Four Months   The external reserve is expected to continue its downward trend in the coming weeks as major sources of forex inflows deteriorate. Nigeria’s foreign exchange reserves have dropped by $1.82 billion over the past four months, official data...

In Five Months, CBN Defended Naira With $7.6bn   The Central Bank of Nigeria injected $7.6bn into the economy to stabilise the value of the naira in five months. This was obtained in the banking regulator’s monthly economic reports on foreign exchange market developments. According to the reports,...

Foreign Portfolios Hit Three-month Low   Foreign investors’ transactions in the market have dropped to lowest point in the past three months as concerns mounted over worsening foreign exchange (forex) crisis. Trading data on foreign portfolio investments (FPIs) released at the weekend indicated that foreign transactions dropped...

Naira Crash Due To Higher Dollar Demand, FX Supply Gaps   The naira crash to about N630 to dollar at the parallel market has been linked to higher dollar demand and foreign exchange (FX) supply constraints. However, the dollar to naira exchanges at N415.75 to one dollar,...

Milk Imports Rise to N27bn Despite Forex Restriction in Q1  A report by the National Bureau of Statistics (NBS) has shown that N27,664 billion was used to import the milk in the country despite the federal government effort to ensure self-sufficiency in milk production and ...