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Mercy Ajifa

Driving sustainable growth in Nigeria’s agricultural sector

Nigeria’s over-dependence on oil and its ability to stoke it into a fully-fledged industry over the past half-century clearly stemmed from its abundance. The potential of the agricultural industry is no longer in question – it contributes about 21 Percept to Gross Domestic Product (GDP) yearly. Yet, as we strive to make agriculture ‘the new […]

CBN suspends cheque-clearing over COVID-19

The Central Bank of Nigeria (CBN) Monday suspended clearing of cheques until further notice. The Director of Banking Services at CBN, Mr. Sam Okojere, who disclosed this in a circular to banks and Nigeria Interbank Settlement System (NIBSS), said the decision followed the government’s restriction of movement in Lagos Abuja and Ogun. He added that the need […]

Oil market volatility boxes Nigeria into a corner

Crude oil prices have fallen significantly since the beginning of 2020, largely driven by the economic contraction caused by the 2019 novel coronavirus disease (COVID-19) and a sudden increase in crude oil supply following the suspension of agreed production cuts among the Organization of the Petroleum Exporting Countries (OPEC) and partner countries. With falling demand […]

Nigeria Heading Towards Economic Depression, Not Recession – Fasua

The coronavirus pandemic has devastated and thrown the global economy into disarray. The Chief Executive Officer, Global Analytics Consulting Limited, Tope Fasua, spoke with Business & Economy Editor, BASSEY UDO, on why Nigeria is facing a potential economic depression. PT: The Minister of Finance, Budget and National Planning, Zainab Ahmed, is reported to have said if the current […]

Group lauds Communications Minister over National Broadband Plan on economy

Few days after President Muhammadu Buhari unveiled National Broadband Plan 2020-2025 with the commissioning of the communications and digital economy complex, the Telecommunications Watch Group (TWG) has lauded the Minister of Communications and Digital Economy, Issa Pantami for the successful completion of the mega projects to boost Nigeria’s economy. The group, in a statement on […]

COVID-19: The recession is here (1)

The world today is run on knowledge derived from human capital development. With massive knowledge at the disposal of man today, COVID-19 will soon be defeated, even faster than envisaged. However, the economic woes it will leave behind will take more time to rectify. It is clear that the world economy is in the throe […]

COVID-19: CBN halts Forex sales to BDCs

The Central Bank of Nigeria (CBN) has suspended sales of foreign exchange to Bureau de Change (BDCs) until the COVID-19 pestilence is over. The disclosure was contained in a response to a request by Association of Bureau de Change Operators and signed by A.S Jibrin on behalf of the director, trade and exchange department, Central […]

CBN, Dangote plan N120bn COVID-19 fund, Elumelu, Rabiu donate N6bn

The Central Bank of Nigeria and the private sector, led by Aliko Dangote Foundation and Access Bank, have set up a coalition aimed at raising N120bn towards the fight against COVID-19 in Nigeria. The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, said at a press briefing in Lagos on Thursday that the Nigerian Private […]

COVID-19: NANTA Sends SOS To FG, CBN On Interest Free Loan Bailout

Seriously overwhelmed by the negative effect of the COVID-19 on the travel industry and its value chain, the National Association of Nigerian Travel Agencies (NANTA) has called on the Federal Government and the Central Bank of Nigeria (CBN) for a bailout through interest free loan to help cushion the unprecedented business twist suffered by its […]

Nigeria: Planned Phase Out of Petrol Cars, Threat to Nigerian Economy – Report

The proposed ban on the use of petrol and diesel-powered vehicles in the coming years by some buyers of Nigerian crude oil, including China and The Netherlands, among others, will have severe impact on the country’s economy, a report by Financial Derivatives Company (FDC) has said. However, FDC, in its latest monthly economic outlook report, […]

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