Economy Shrank In May Amid Low Purchasing Power – CBN     The Purchasing Managers Index revealed that the Nigerian economy contracted in May, according to data obtained from the Central Bank of Nigeria on Thursday. The personal statements of some members of the Monetary Policy Committee indicated...

Nigeria Lost N53.26bn To Gas Flaring In Two Months – NNPC       Nigeria lost an estimated N53.26bn in the first two months of this year as international oil companies and local players flared a total of 33.04 billion standard cubic feet of natural gas. The oil companies...

In Five Years, Nigeria Lost $10.8bn In Telecom Sector     Nigeria lost $10.8bn in the last five years to capital flight in the telecommunications sector amid lingering foreign exchange scarcity in the country. In its ‘National Policy for the Promotion of Indigenous Content in the Nigerian Telecommunications...

ECOWAS Advices Nigeria To Raise VAT On Hotels, Others       The Economic Community of West Africa States has canvassed an increase in the Value Added Tax on luxury items including perfume, wine and other alcoholic beverages, fuelling speculations about inflation on the items. According to ECOWAS, Nigeria...

Nigeria is Far from a Hopeless State - NIPR     Contrary to insinuations of Nigeria being a hopeless state, the Nigerian Institute of Public Relations (NIPR) has said that the country has the potentials of emerging as foremost nation of the world. The Chairman, NIPR Integration, Peace...

Manufactured Imports Rise To N40.94trn       Between January 2017 and March 2021, Nigeria spent N40.94tn on the importation of manufactured goods. It earned only N4.22tn on the export of manufactured goods within the same period. These are according to data obtained from the Foreign Trade report of the...