Business

The Monetary Policy Committee has retained key lending rates at 11.5%. Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, announced this on Tuesday, saying it is part of efforts to boost the economy towards a sustainable recovery from the recession. “Members voted in line with the most pressing need towards reversing the recession […]

Nigeria’s Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Monday, said the country will exit recession by the first quarter of 2021. Ahmed spoke about the current recession in the country at the ongoing 26th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, […]

Nigeria’s Ngozi Okonjo-Iweala has reached the final stage in the race to lead the World Trade Organisation. The former finance minister alongside Yoo Myung-hee of South Korea are the final candidates remaining in the race, sources familiar with the decision said Wednesday, in what will be a first for the trade body. The official announcement […]

President Muhammadu Buhari on Monday said the COVID-19 pandemic has resulted in trying times, not just for the Nigerian people, but also for the government. The President said the country’s revenues and foreign exchange earnings have fallen by almost 60 percent since the pandemic took hold. Buhari’s remarks were delivered by Vice President Yemi Osinbajo […]

Re-elected President of the African Development Bank, Dr Akinwumi Adesina, will be sworn-in on Tuesday, September 1, to serve a five-year term. The ceremony, according to the AfDB in a statement on Monday, will be held virtually at 9am. Dr Adesina, Nigeria’s former Minister of Agriculture and Rural Development, was re-elected last week after getting […]

Nigeria’s Gross Domestic Product (GDP) decreased by six percent in real terms in the second quarter of 2020, according to the Nigeria Bureau of Statistics. This was contained in the NBS’s GDP report published on Monday. The retreat ends a three-year trend of low but positive real growth rates recorded since the national economy emerged […]

An independent panel of experts, headed by former Irish president Mary Robinson, has cleared the beleaguered leader of the African Bank of Development (AfDB) of corruption, according to a report obtained by AFP.  Akinwumi Adesina, 60, a charismatic speaker known for his elegant suits and bow ties, became the first Nigerian to helm the AfDB in […]

Six candidates are vying to become the next head of the World Trade Organization — an institution which faced mammoth challenges even before the pandemic-driven global economic crisis struck. The window to enter the race slams shut on Wednesday, in a speeded-up contest to replace the outgoing WTO director-general Roberto Azevedo — the Brazilian career […]

President Muhammadu Buhari has set up a committee with a mandate to make a quick assessment of the impact of coronavirus on the economy. The President asked the committee to urgently evaluate the effect of the virus on the economy, especially as it affects the prices of crude oil. This comes after President Muhammadu Buhari […]

The nation’s Gross Domestic Product (GDP) has recorded a growth of 2.55 per cent (year-on-year) in real terms in the fourth quarter of 2019, the highest since the recession in 2016. This was revealed in the latest report released by the National Bureau of Statistics (NBS) and obtained by Channels Television on Monday. The figure shows an […]


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