The Federal Government has said that it expects Nigeria’s Gross Domestic Product per capita to rise to three thousand, seven hundred and six dollars by 2025. This represents about sixty-one per cent projected growth from the two thousand three hundred GDP per capita growth forecast for 2021. The Minister of Industry, Trade and Investments, Niyi Adebayo, had…
Crude oil production in Nigeria has increased by about two-point-six million barrels in the month of November this year. The Organisation of Petroleum Exporting Countries announced that Nigeria’s crude oil production rose by eighty-five thousand barrels to one million, four hundred and twenty-thousand barrels per day. The figure is against one million, three hundred and thirty-five thousand…
A new report released by the National Bureau of Statistics shows that Nigeria’s trade on the international market has dropped further. The report puts Nigeria’s total foreign trade at thirty-five point zero-nine trillion naira, between January and September this year. The figure is made up of twenty-two trillion naira of imports, and thirteen point one trillion-naira export,…
The International Monetary Fund has said that food inflation remains a major problem in Nigeria. The IMF is of the view that rising food prices is the major cause of the general inflation in Nigeria and other neighbouring countries. The international financial regulator says that other parts of the world are also suffering from rising inflation, which…
The Central Bank of Nigeria has unveiled the 2022 economic policy direction. The CBN Governor, Godwin Emefiele, unveiled the policy in his keynote address at the 2021 Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria held in Lagos. Emefiele said the policy will sustain improved access to finance and credit for households and businesses.…
The Senate today gave its Committee on Appropriations up till Wednesday to conclude its budget defence on the 2022 Appropriation Bill. The President of the Senate, Ahmad Lawan, who handed down the deadline at plenary, gave the committee the next twenty-four hours to conclude the budget defence by subcommittees of the upper chamber. The Senate President said…