Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has said that with the current efforts by the Federal Government to revive the country’s economy, the country should be out of recession by the third quarter of this year. Emefiele also said the CBN would continue with its intervention in the foreign exchange market, […]
Read More
The Nigerian National Petroleum Corporation (NNPC) has said if current improvement in oil production is sustained, the economy is on its way out of the doldrums. It said oil remains the main stay of the economy, accounting for over 70 per cent of the nation’s gross domestic product (GDP). Its health, safety and environment (HSE) […]
Read More
Due to the intra-regional trade and remittance ties between Nigeria and neighbouring countries, the economies of the Chad and Niger had been significantly affected by the economic downturn in Nigeria, the International Monetary Fund has said. The IMF, in its latest staff report for the 2017 Article IV consultation on Nigeria, stated that in Chad, […]
Read More
An economist, Prof. Pat Utomi, has said that poor budget management process is responsible for the current economic recession in Nigeria and not the fall in oil prices. Utomi made the observation in Awka on Wednesday while speaking at the maiden edition of Dr Emmanual Egboga Budget Roundtable, organised by the Nnamdi Azikiwe University Business […]
Read More
CBN has made moves to strengthen the naira currency to boost domestic manufacturing and lift the economy out of recession caused by the slump in global oil prices. But analysts said the measures do not go far enough and foreign investment would only return to Africa’s most populous nation once the market determines the currency’s […]
Read More
Sports betting and lottery operators said on Monday that they were experiencing boost in their businesses as more people now patronise them. Some of the betting operators disclosed this in separate interviews with the Newsmen in Abuja. Newsmen report that sport betting is the activity of predicting sports’ results and placing a stake on the […]
Read More
The Minister of Budget and National Planning, Udoma Udo Udoma, on Wednesday, said that the current recession in the country will end before this year runs out. According to him, the yet to be passed 2017 Budget has been structured to achieve the goal. He spoke with State House correspondents at the end of the […]
Read More
The Minister of Budget and National Planning, Udoma Udo Udoma, on Wednesday, said that the current recession in the country will end before this year runs out. According to him, the yet to be passed 2017 Budget has been structured to achieve the goal. “The five priorities areas that we have are: [su_list icon=”https://newstage.com.ng/wp-content/uploads/2015/11/cropped-newstage_logo.png”] Stabilising […]
Read More
Brazil’s economy has fallen sharply for a second consecutive year, putting Latin America’s largest country in its deepest recession in modern history. The country’s statistics agency said on Tuesday that Brazil’s gross domestic product shrank 3.6 percent in 2016 following a dip of 3.8 percent in 2015. Brazil’s deepest recession had been registered in 1930-1931, […]
Read More
Much after months of extensive consultations and meeting with stakeholders from both the private and public sectors of the country, the Nigeria Federal Government on Tuesday finally releases plan to recover her Economy and way for Growth to return – the plan is expected to take the nation out of recession. The document which was released by […]
Read More
The Nigerian Stock Exchanges has expressed optimism that the country’s economy will recover from its current recession this year with a modest Gross Domestic Product growth forecast of 0.6 per cent. The recovery, according to the bourse, will be driven by the vigour of fiscal policy implementation, with a keen focus on articulation of desired […]
Read More
Africa’s richest man, Aliko Dangote, admired and commended Nigerians for their resilience the face of the prevailing economic challenges, saying they had made sacrifices that would soon see the nation out of the woods. Addressing a group of small and medium enterprise operators who met with him in Lagos during the festive period, Dangote said that […]
Read More
