While critics may caution against the risks of fiscal indiscipline and debt vulnerability, citing examples of past fiscal mismanagement and debt distress in different regions, such concerns are valid. However, they should not overshadow the imperative of strategic deficit financing in contexts where public investments are essential for long-term development.  “Recent […]

The contribution of the manufacturing sector to Nigeria’s non-oil exports has declined by 62 percent in four years as operators battle rising expenses amid high borrowing costs and low consumer spending. Data from the most recent foreign trade report shows that the share of manufacturing exports to total exports declined from N2.1 trillion in […]

The Central Bank of Nigeria (CBN) has ticked off nearly all items on its long-awaited monetary policy reform list, buying time for the government to chart a much-needed path to long-term and more sustainable dollar inflows. The naira rallied to a three-month high of 1,251 per US dollar last Friday, a remarkable turnaround for […]

…Prices drop 44% on stronger naira Cashew farmers in the country have projected that output for the 2024 season that started in January will dip marginally owing to the harsh harmattan season experienced in major growing areas. They said the harsh harmattan season has affected cashew trees in major producing states at the […]

LAGOS – The Association of Bureaux De Change Operators of Nigeria (ABCON), the umbrella body of all Central Bank of Nige­ria (CBN)-Licensed Bureaux De Change (BDCs) in Nigeria, has appealed to the Central Bank of Nigeria (CBN) to adjust and low­er its applicable Exchange Rate downward below the N1,251/$ its pegged […]

…Tunde Rahman, Presidential aide, hails Onyema …Private sector group rallies round Air Peace, urges FG to step up, protect national interest Olisa Agbakoba, a senior advocate of Nigeria (SAN), has said that the Nigerian economy had begun to turn the corner for good. Agbakoba pointed out that the economic activities of […]

The global food price index has rose for the first time since July 2022, as prices of vegetable oils, meat and cereals outweigh the decline in sugar and grains, the Food and Agriculture Organisation (FAO) reported Friday. The Food Price Index by the FAO reports that prices of vegetable oils […]

The Lagos State Consumer Protection Agency (LASCOPA) is flexing its muscle, directing all supermarkets and grocery stores within the state to ensure clear price tags on all products. Failure to comply will result in hefty fines or even closure, the agency warned. This directive, announced on the Lagos State government website, comes as part […]

The Federal Government dug in its heels on Friday, refusing to back down from the controversial 240% tariff increase for Band A electricity consumers despite widespread opposition. This move throws has made the Nigeria Labour Congress to tell the Federal Government to prepare for the consequences of the tariff hike. Subsidy axe falls on […]