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Farooq

Posts Tagged "nigerian economy"

HomePosts Tagged "nigerian economy"

The over 20 million Small and Medium scale Enterprises (SMEs) in Nigeria recorded about 27 per cent international trade between March and May 2017, aided by the use of digital tools. The Nigerian firms are ahead of others grouped together in the Middle East and Africa (MEA) region. Egypt had 25 per cent exposure; South Africa […]

Obinna Chima One of the leading financial advisory firms in the world, UBS Wealth Management’s Chief Investment Office (CIO), has predicted that the Gross Domestic Product (GDP) of some economies in Africa, such as Egypt, Kenya and Nigeria, can comfortably grow at five per cent or more in the years ahead. The firm stated this […]

Obinna Chima Only the top one per cent of Nigerians enjoyed while the level of inequality increased during the oil boom that predated the recent economic recession in the country, a report has stated. The Financial Derivatives Company Limited, stated this in its Economic Bulletin for August 2017, obtained recently. According to the research and […]

By Paul Carsten ABUJA, Sept 5 (Reuters) – Nigeria moved out of recession in the second quarter but the pace of growth was slow despite higher earnings from oil, suggesting Africa’s largest economy remains fragile and dependent on its dominant export. Growth was 0.55 percent year-on-year, the statistics office said on Tuesday, while OPEC data […]

Nigeria, Africa’s largest economy, is finally out of recession! The National Bureau of Statistics (NBS), who declared Nigeria’s worst recession in 29 years, said on Tuesday, that the west African country grew by 0.55 percent in GDP terms for Q2 2017. According to the Nigerian Gross Domestic Product report released by NBS on Monday, the […]

Jameel Ahmad,  FXTM vice-president of market research, says the fall in inflation rate recorded in Nigeria will not change the decision of the Central Bank of Nigeria (CBN) monetary policy committee to keep interest rate at 14 percent. Commenting on the National Bureau of Statistics (NBS) inflation report released on Monday, Ahmad said the drop has […]

LAGOS, Aug 28 (Reuters) – Nigerian President Muhammadu Buhari, back at the helm after prolonged sick-leave, said he was delighted by the way Africa’s biggest economy was improving after briefings from ministers and the central bank, his office said on Monday. Nigeria, the continent’s most populous country, is in its second year of recession and […]

  • IMF

By Chijioke Ohuocha LAGOS, Aug 3 (Reuters) – Nigeria and the International Monetary Fund disagree over how much the economy will grow this year, with the government saying 2.2 percent and the Fund opting for just 0.8 percent. Either would be an improvement on last year, however, when Nigeria suffered its first recession in more […]

  • IMF

By Chijioke Ohuocha LAGOS, Aug 2 (Reuters) – Nigeria is expected to emerge from recession this year, but threats to recovery remained elevated and the economy will not grow enough to reduce unemployment and poverty, the International Monetary Fund said on Wednesday. Nigeria slipped into a recession last year as low crude prices and oil […]

The Central Bank of Nigeria (CBN) has assured Nigerians that the current recession they are facing would end before the end of the year, even as it blamed overdependence on importation for the problem. CBN governor, Mr. Godwin Emefiele, at the weekend while delivering a lecture entitled: “The Dilemma of Monetary Policy and Exchange Rate […]