Economy

Amid growing fiscal risks, FG borrows N2.45tn from CBN

The Federal Government’s total borrowing from the Central Bank of Nigeria (CBN) through Ways and Means Advances rose from N17.46trillion…

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Naira overvalued by 200 percent despite hullabaloo over its exchange rate, financial expert Rewane claims

Bismarck Rewane, Managing Director of Financial Derivatives Company Limited (FDC), said on Tuesday the Naira was over-valued by 200 percent.…

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50 firms shut down as investment in manufacturing dips by 56%

Investment in manufacturing has reduced 56 per cent in seven years, and 50 such firms have shut down since 2017,…

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Nigeria ranks 4th in debtors’ list, highest IDA debt in Africa

Nigeria now rates fourth among the World Bank International Association borrowers’ list.   With $13 billion International Development Association (IDA)…

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Lagos to launch 30-year growth plan at Ehingbeti

The Lagos State Government has disclosed plans to launch a 30-year Lagos State Development Plan (LSDP) 2022-2052, during the 2022…

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We’ve never had it this bad in Nigeria, says Sanusi

Former governor of the Central Bank of Nigeria (CBN) and 14th Emir of Kano, Sanusi Lamido Sanusi, on Thursday, in…

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Nigeria records N30.58trn budget deficit in 7 years

Nigeria’s budget deficit has risen to at least N30.58trillion in the last seven years.   This is according to data…

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Free fall for Naira as black market exchange rate nears N700 to $1

Bureau De Change operators increased the cost of buying dollar by 1.65% on Monday, as demand overwhelms availability in the…

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Tin Can Customs revenue hits N274bn, boosts export trade in first half of year

Tin Can Customs Area Controller, CAC, Comptroller Adekunle Oloyede, has said the Command generated a total sum of N274.3 billion…

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CBN clarifies stand on illicit conversion of currency

The Central Bank of Nigeria (CBN) has clarified the statement made by the Governor, Godwin Emefiele, at Tuesday’s post-Monetary Policy…

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