Economy

The International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to pay up the remaining $2.2bn forex forward backlogs owed investors.The IMF is happy with the current monetary policy rate tightening, floating of…
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On Monday, the Nigerian Naira traded higher after Africa Export-Import Bank (AfreximBank) syndicated foreign currency (FCY) loans backed by oil entered the economy months after they were initially announced.The naira recovered…
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President Bola Tinubu remarked on Monday that a select few individuals have embezzled Nigeria’s collective resources under the pretext of subsidies over the past four decades.Tinubu expressed regret that Nigerians are bearing the…
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Doris Anite Uzoka, Minister of Industry, Trade & InvestmentIn a bid to increase the inflow of foreign exchange in order to curb the rising inflation in Nigeria, the Federal Government is seeking the repatriation of all proceeds on…
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The Federal Government has lost an estimated $16 trillion to natural gas flaring in ten years amid rising debt stocks, which stood at N87.38 trillion in the second quarter of 2023.The Energy Institute’s 72nd edition of the…
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By Patience Chat MosesThe Executive Secretary (ES) of the Nigerian Content Development and Management Board (NCDMB), Engr. Simbi Kesiye Wabote, has said that African nations need to prioritize and understand the importance of…
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By Adaobi Rhema Oguejiofor  The International Monetary Fund (IMF)has said that Nigeria and other emerging economies will need about $2 trillion annually by 2030 in order to achieve the ambition of transitioning to net-zero…
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...Regrets hardship faced by Nigerians President Bola Ahmed Tinubu has announced provisional wage increment for the next six months, with average low-grade worker set to receive an additional N25,000 per month.He made the…
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By Yange IkyaaChina has consistently dominated the worlds electric vehicle (EV) market in nearly all facets. In 2022, the country exports of EVs increased in excess of 131.8 percent year-on-year to about 680,000 units, according to…
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Gopichand Hinduja, an Indian business magnate, made a firm pledge last week to invest significantly in Nigeria’s rapidly expanding vehicle industry.Last week, the billionaire Chairman and CEO of Hinduja Group of Companies met with…
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