Textile imports enough to fund budget deficit, says Economist
An economic and financial analyst, Mr David Ibidapo, says the amount spent on importation of textiles and garments into Nigeria can fund more than half of the nation’s budget deficit.…
Economy
Nigeria’s population growing faster than economy, says Report
The Nigerian economy is growing slower than the growth rate in its population, the FSDH research has revealed. According to the research by the FSDH Merchant Bank on ‘Final judgment…
Nigeria foreign exchange reserves fall to two-month low of $42.86bn
CBN Governor Godwin Emefiele Nigeria foreign exchange reserves have fallen to $42.86bn, the lowest level in two months, the latest data from the Central Bank of Nigeria showed on Sunday.…
Egypt central bank cuts key interest rates after inflation eases
Egypt’s central bank made a surprise cut to its overnight interest rates on Thursday, citing a strong drop in inflation and an improvement in other macroeconomic indicators. The bank lowered…
Nigeria inflation falls to 11.37 percent in January as election nears
Nigeria annual inflation fell to 11.37 percent in January, down from the seven-month high it reached in December, data showed on Friday, a day before a presidential election in which…
Uganda’s economy seen expanding at 6.3 pct in 2018/19, says IMF
A contractor assemble steel for the construction of Karuma 600 megawatts hydroelectric power project under construction on River Nile, Uganda February 21, 2018. REUTERS/James Akena Uganda’s economy is expected to…
Investors gain N253.7bn as market capitalisation hits N12tn
Investors in the nation’s stock market gained N253.7bn on Tuesday as the market capitalisation of equities listed on the Nigerian Stock Exchange rose above the N12tn mark. Equities listed on…
Nigerian economy grows at fastest pace in two years as election nears
Nigeria’s economy grew in 2018 at its fastest pace since a recession two years earlier, data showed, just days before a presidential election in which boosting growth has been a…
Egypt’s annual urban consumer inflation rises to 12.7 pct in Jan
Egypt’s annual urban consumer price inflation increased to 12.7 percent in January from 12.0 percent in December, the official statistics agency CAPMAS said on Sunday. Inflation cooled in December after…
Federal Government disagrees with IMF on economic growth forecast
The Minister of Budget and National Planning, Senator Udo Udoma, has said the nation’s economy will grow by 3.01 per cent this year, compared to a forecast of two per…