ECONOMY
'We are not Fed-dependent,' ECB chief says on rate cuts
Christine Lagarde, president of the European Central Bank, pictured at a press conference in Frankfurt am Main, Germany, on April 11, 2024. Photo: Kirill KUDRYAVTSEV ...
Nigerians have lost faith in Naira — Minister of Finance, Wale Edun, laments
Minister of Finance, Wale Edun, has lamented that Nigerians have lost faith in the nations currency, Naira, and are now saving in Dollars. Speaking at a recent event in Lagos, he ...
Cheap Chinese steel threatens jobs in Latin America
The Huachipato steel plant, Chile's largest, has become a casualty of cheap Chinese steel imports. Photo: GUILLERMO SALGADO / AFPSource: AFP
Nigerias headline inflation accelerates to 33.2% despite the nairas strong performance
Headline inflation in Nigeria accelerated to 33.2% in March, defying analysts estimates of a marginal increase. Those estimates were based on the strong performance of t ...
Debt and climate back on IMF, WB spring meetings agenda
International Monetary Fund (IMF) Managing Director Kristalina Georgieva, who has been reappointed to another five-year term. Photo: Stefani Reynolds / AFPSource: ...
Nigeria to provide solar subsidy for underserved and unserved areas
The Nigerian government plans to provide subsidies to developers and operators of solar mini-grids in unserved and underserved areas via a $750 million loan approved by the World Bank. ...
US Fed's Barkin says recent inflation data 'not supportive' of case for rate cuts
"When we gain greater confidence that inflation is headed toward our target, then it'll be appropriate to ask whether it's not time to recalibrate the se ...
Australia PM unveils plan to overhaul economy, invest in green energy
Prime Minister Anthony Albanese will unveil the "Future Made in Australia Act" to help compete with global partners who are providing massive subsidies to n ...
Fitch downgrades China sovereign credit outlook on debt fears
China's leaders have struggled to kickstart growth in the world's number two economy as it faces several headwinds, including a crisis in the property sector. ...
FG to phase out subsidy in 2027, says Minister
From Isaac Anumihe, Abuja After considering the fact that the government would have spent over N2.9 trillion in subsidising electricity between January ...
US hiring blows past expectations in March
US hiring rose by 303,000 last month. Photo: JOE RAEDLE / GETTY IMAGES NORTH AMERICA/Getty Images via AFPSource: AFPUS hiring rose ...
Currency grading: Naira ranks third in Africa
•Strengthens at NAFEM By Chinwendu Obienyi The naira, Nigerias ...
Bank of Tanzania raises interest rate to 6% amid steady inflation
The Bank of Tanzania (BOT) has increased its interest rate (CBR) from 5.5% to 6% following a meeting held by its monetary policy committee on Wednesday. This adjustm ...
Labour, manufacturers kick as FG raises electricity tariff by 240%
By Adewale Sanyaolu, Isaac Anumihe (Abuja) Merit Ibe and
Cutting rates too soon could be 'quite disruptive': Fed's Powell
The Federal Reserve has held interest rates at a 23-year high as it seeks to bring inflation firmly down to its long-term target of two percent. Photo: Mandel NGAN / ...
We generated N1.3trn revenue in first quarter of 2024 – Customs
The Nigeria Customs Service, NCS, says it generated more than N1.3 trillion revenue in the first quarter of 2024. The Comptroller General of NCS, Adewale Adeniyi, di ...
California fast food workers get $20 hourly minimum
Happy feel: Most workers at California fast food outlets are entitled to a $20 per hour minimum wage from April 1. Photo: ANDREW CABALLERO-REYNOLDS / AFPSource: A ...
Nigerian Railway Corporation generates N6bn in 2023
The Nigerian Railway Corporation, NRC, generated N6,071 billion in revenue from passenger, cargo transport and other income sources in 2023. The National Bureau of S ...
300% increase in price of goods: NUCFRLANMPE raises the alarm
By Bimbola Oyesola [email protected] The National Union of Chemical Foo ...
Nigerian ports missing in top 100 global ranking
By Steve Agbota Despite the hype about the phenomenal offerings of the $1.5 billion Lekki deep seapo ...
Naira appreciated by N660 against dollar since BDCs return to FX market – Gwadabe
The President of the Association of Bureaux de Change Operators of Nigeria, ABCON, Aminu Gwadabe, says the Naira appreciated by N660 against the US dollar since the Governor of the Cen ...
Naira Bounce Back:The Impact of Cardosos Strategies
Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has emerged as a central figure in the narrative of Nigerias economic resilience, espec ...
Nigeria economy rakes in $1.5bn inflow in days
The Central Bank of Nigeria says Nigeria recorded over $1.5 billion inflow into the economy in the past few days. Sidi Ali, the acting Director of Corporate Communic ...
Economy records over $1.5bn inflow in days, says CBN
The Central Bank of Nigeria has disclosed that over $1.5bn came into the Nigerian economy over the past few days, indicating that its monetary policy efforts are effective. ...
US Fed's inflation fight remains on track despite recent uptick: Powell
Federal Reserve Chair Jerome Powell said recent inflation data had come in 'pretty much' in line with expectations. Photo: Mandel NGAN / AFPSource: AFP
Vietnam Q1 growth hits five-year high on strong exports
Vietnam is a major global manufacturing hub. Photo: Tran Thi Minh Ha / AFPSource: AFPVietnam's economy grew by 5.66 percent on ...
How fuel prices rose 6 kobo-N650/litre from 1973 to 2024
Nigeria, Africas largest oil producer, has been struggling with the issue of fuel pricing for decades. The country has experienced several episodes of fuel scarcity, ...
US Fed official says may be 'appropriate' to lower number of rate cuts
Fed governor Christopher Waller said recent data show it may be appropriate to lower the number of cuts the US central bank expects to see this year. Photo: Sarah Sil ...
German economy to nearly flatline this year, think-tanks say
Europe's largest economy will expand by just 0.1 percent in 2024, German think-tanks said. Photo: THOMAS KIENZLE / AFP/FileSource: AFP
Public debt stock rises to N97.34tr in Q4 2023 – NBS
Nigerias public debt stock rose from N87.91 trillion (114.35 billion dollars ) in the third quarter of 2023 to N97.34 trillion (108.23 billion dollars) in the fourth quarte ...