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Farooq

Posts Tagged "recession"

HomePosts Tagged "recession"

LAGOS, Oct 17 (Reuters) – Annual inflation in Nigeria slowed for an eighth month in September, easing to 15.98 percent, the National Bureau of Statistics (NBS) said on Tuesday. The rate of annual inflation was 0.03 percent percentage points lower than the rate in August. A separate food price index showed inflation at 20.32 percent […]

Olufemi Atoyebi, Ibadan The Chairman of the Western zone of the Institute of Chartered Accountants of Nigeria, Mikahil Ogundiran, has called on the Federal Government to free the nation’s economy from dependence on oil by focusing on other sectors for foreign earnings. According to him, this will sustain the economy and allay the fear of […]

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 […]

  • 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 […]

Obinna Chima The aggregate foreign exchange (forex) inflow into the Nigerian economy in the first quarter of 2017 has been estimated at US$15 billion. This, however, represented a decline of 9.2 per cent below the level in the fourth quarter of 2016, but showed an increase of 1.4 per cent over the level at the […]

Nigeria’s journey out of recession is on course although at snail speed. This hope has been boosted by the further drop in inflation rate, fifth in a row, as at June 30, 2017. The year, which opened at 18.72 per cent inflation rate, contracted to 16.10 per cent by the ending of last month.The slow […]

  • CBN

LAGOS, July 12 (Reuters) – Nigeria plans to issue 204.95 billion naira ($651.7 mln) in treasury bills at an auction on July 19, the central bank said. The bank aims to raise 36.78 billion naira in three-month bills, 39.17 billion naira in six-month paper and 129 billion naira in one-year bills. Nigeria’s central bank issues […]

Oyetunji Abioye with agency report The Federal Government is hiring the United States technology giants such as Oracle Corporation and Microsoft Corporation as it steps up efforts to save costs and fight corruption. An initiative led by Redwood, California-based Oracle, has helped the Federal Government to remove 50,000 ghost workers, or fake entries, from the […]