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Business & Economy
Manufacturers lament over N1.5trn forex losses in 1h 2024
Maureen Aguta
The Manufacturing companies recorded N1.5 trillion in foreign exchange-related losses in the first six months of the year, following the impact of the unsettled forward contracts worth $2.4 billion by…
Debt-to-GDP: Nigeria’s public debt set to hit N130trn – Report
Maureen Aguta
Nigeria’s public debt stock is projected to hit N130 trillion this year, raising concerns about the country’s debt-to-gross domestic product ratio.
This was revealed in a report by Afrinvest, an…
CBN: NACCIMA worry over interest rate increase, raises alarm on implications for business
Maureen Aguta
The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Oye Esq., has enumerated the potential consequences of a hike in the benchmark…
Again, Senator Ndume slams Tinubu, says N70k minimum wage can only buy one bag of rice
Maureen Aguta
Senator Ali Ndume, lawmaker representing Borno South, is obviously not done with his criticism of President Bola Tinubu.
His criticism of the president had led to his removal as Chief Whip of the…
Maiden South East region business, investment summit to hold in Enugu
Joseph Irikefe
A South East Region-Wide Business and Investment Summit is to take place in Enugu, later this year.
The public/private sector structured initiative pioneered by Continental Export Development Nigeria with…
What FG must do for private sector to implement N70, 000 minimum wage–MAN
Maureen Aguta
The Manufacturers Association of Nigeria (MAN) has set conditions for the organized private sector to comply with the new minimum wage payment of N70, 000.
MAN is seeking government assistance to address…
IMF downgrades Nigeria’s economic growth forecast to 3.1%
Maureen Aguta
The International Monetary Fund (IMF) has cut its forecast for Nigeria’s economic growth in 2024 to 3.1 per cent.
The downgrade is contained in a newly released report ‘in the July 2024 World Economic…
BREAKING: $50bn benefits beckons as 10 Nigerian companies begin trading on AfCFTA platform
Joseph Irikefe
The Federal Government has reaffirmed its dedication to ensuring that Nigerian businesses, both small and large, will benefit from the $50 billion African Continental Free Trade Area (AfCFTA).
President…
US-based expert exposes hidden dangers in Nigeria’s latest $2.5bn IMF loan
Maureen Aguta
As Nigeria secures a $2.5 billion loan from the International Monetary Fund (IMF) to meet its financial needs, there is discomfort in some quarters.
Despite the naira’s depreciation, the loan must be…
Hardship: Nigeria’s souring inflation hits 34.19% amid rising food prices
Maureen Aguta
Nigeria’s inflation figure has reached a new high, hitting 34.19 per cent for June 2024, according to the latest data from the National Bureau of State Statistics (NBS).
This is an increase of 0.24…