Economy

Africa

‘Big funding squeeze’ threat to Nigeria, sub-Saharan Africa – IMF

Plu Team -
Economic growth in sub-Saharan Africa is expected to decelerate to 3.6% before rebounding to...
Economy

Dollar falls after U.S. inflation report

Plu Team -
The U.S. dollar experienced a sharp drop in value on Wednesday after the release...
Economy

Planned subsidy payments to 50m Nigerians offers below N10,000 each

Plu Team -
The Nigerian government says it has obtained $800 million from the World Bank which...
Economy

27 states in Nigeria attracted zero foreign capital in 2022

Plu Team -
Twenty-seven states attracted no foreign capital into Nigeria in 2022, according to government figures...
Economy

Naira drops to record low on official market

Plu Team -
Naira plunged to a new low against the United States dollar on Monday on...
Economy

Economic crisis: Nigeria records huge foreign direct investment fall

Plu Team -
Foreign direct investment into Nigeria decreased by a third in 2022 and fell massively...
Companies

Nigeria’s ailing economy ends iconic brands Omo, Lux. And it’s big deal

Eric Ojo -
Nigerians will no longer have the iconic products Omo and Lux in the market....
Economy

Nigeria’s new debt figure suggests how much each citizen owes

Plu Team -
Nigeria’s total debt rose to N46.3 trillion or $103.11 billion at the end of...
Food

Unable to sell, Nigerian egg farmers cut prices, lose big

Plu Team -
Poultry farmers in Lagos are losing big after Nigeria’s cash crunch left huge of...
Food

Prices of top three Nigerian foods at highest levels in years

Jane Kalu -
The prices of three major foods in Nigeria surged to the highest levels in...
Economy

CBN ends disruptive naira policy, begins release of notes

Plu Team -
Nigeria's central bank has finally ended its policy of seizing higher bank notes months...
Economy

Fraud soars in Nigerian banks to highest level in five years

Eric Ojo -
The number of fraud cases in Nigerian commercial banks rose in 2021 by nearly...
Nation

Nigerian workers declare strike as naira scarcity worsens

Plu Team -
The Nigeria Labour Congress (NLC) has directed workers to remain at home from next...
Economy

CBN made critical mistakes that doomed naira redesign

Stephen Onyeiwu -
Nigeria has successfully introduced new banknotes on about 10 occasions since independence in 1960. So why...
Economy

Naira scarcity: No big relief for Nigerians after CBN meeting

Eric Ojo -
The Central Bank of Nigeria signalled Tuesday its decision to take cash out of...
Economy

Nigeria’s central bank raises interest rate on price pressure

Plu Team -
The Central Bank of Nigeria raised its benchmark lending rate by 50 basis points...
Markets & Investing

Banks BTA cut reveals Nigeria’s forex trouble as reserves hit 17-month low

Eric Ojo -
Major Nigerian banks have announced cuts in personal travel allowance and business travel allowance...
Economy

Trapped foreign airlines funds in Nigeria highest in the world

Plu Team -
Nigeria has the highest amount of trapped airlines funds within the past year, according...
Small Business

‘Pure water’ price goes up and producers are shutting factories

Plu Team -
Producers of table water in Abuja have closed their factories for over a week,...
Economy

Naira shortage: Former statistician-general predicts N15 trillion cost on economy

Plu Team -
Ongoing currency shortage, which has imposed devastating impact on Nigeria’s economy will likely cut...
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