Industry & Money View all


Global investment returns to pre-pandemic level

Global foreign direct investment (FDI) announcements reached their highest level for more than a year in September, as companies serving growing demand for connectivity and technology outlined major expansion plans, while oil and gas investment also made a comeback as energy shortages reveal the need of new capital expenditure (capex) across the energy matrix. The […]

Economic Growth Moderates on Waning Base Effects

In line with our expectation, Nigeria’s economy grew slower in Q3-21 compared to the prior quarter, as the impact of the favourable base from the prior year began to dissipate. According to the recently released GDP report by the National Bureau of Statistics (NBS), the Nigerian economy grew by 4.03% y/y in Q3-21 (Q2-21: +5.01% […]

NITDA Alerts Nigerians On E-Naira Scams

Following the recent launch of the digital currency, e-Naira by the Central Bank of Nigeria, the National Information Technology Development Agency, NITDA has cautioned Nigerians of cybercriminals who have now deployed means to scam and defraud people through a new frivolous scheme. According to NITDA, the scheme, which the criminals perpetrate through Short Message Service […]

E-Naira’ll not affect commercial banks’ deposits – Adedipe

Dr Biodun Adedipe, Chief Consultant, B. Adedipe Associates Ltd., said the e-Naira introduced by the Central Bank of Nigeria (CBN) would not affect deposits of commercial banks. Adedipe said this at the National Business Extra fourth anniversary lecture/awards on Thursday in Lagos. He spoke on the theme: “Cryptocurrency Vs E-Naira: Issues, prospects and challenges in […]

Economic and Market Report –Week-ended July 23, 2021

Global Economy The Governing Council of the European Central Bank (ECB) elected to keep the key policy rate unchanged at 0.00% at its July policy meeting. The Council noted that the decision was hinged on the need to push inflation higher and mitigate the risk posed by the Delta variant of the COVID-19 pandemic on […]

July 2021: MPC to Hold Rates Steady to Support Economic Recovery

The Monetary Policy Committee (MPC) is expected to hold its fourth meeting of the year on the 26th and 27th of July 2021. We expect the Committee to assess global and domestic macroeconomic and financial market developments and provide forward guidance on the timing of a change in monetary policy stance. Reopening of Economy, Base […]

Business News View all


Global investment returns to pre-pandemic level

Global foreign direct investment (FDI) announcements reached their highest level for more than a year in September, as companies serving growing demand for connectivity and technology outlined major expansion plans, while oil and gas investment also made a comeback as energy shortages reveal the need of new capital expenditure (capex) across the energy matrix. The […]

Economic Growth Moderates on Waning Base Effects

In line with our expectation, Nigeria’s economy grew slower in Q3-21 compared to the prior quarter, as the impact of the favourable base from the prior year began to dissipate. According to the recently released GDP report by the National Bureau of Statistics (NBS), the Nigerian economy grew by 4.03% y/y in Q3-21 (Q2-21: +5.01% […]

Nigeria, Chad to set up joint business council

The Nigerian Investment Promotion Commission (NIPC) has pledged its support to work with relevant government Ministries, Departments and Agencies (MDAs) of both countries to set up the Nigeria-Chad Joint Business Council. This is contained in a statement issued and signed by NIPC Head, Press and Protocol, Daniel Awurum on Monday. The Council is expected to […]

There is urgent need for Africa to diversify economies — Adesina

President of the African Development Bank (AfDB), Dr Akinwunmi Adesina has said there is an urgent need for Africa to rapidly diversify its economies, and add value to everything that it produces. Adesina said this at the Adeola Odutola Lecture, Manufacturers Association of Nigeria Annual Meeting while making his presentation titled: “Overcoming Binding Constraints to […]

Economic and Market Report –Week-ended July 23, 2021

Global Economy The Governing Council of the European Central Bank (ECB) elected to keep the key policy rate unchanged at 0.00% at its July policy meeting. The Council noted that the decision was hinged on the need to push inflation higher and mitigate the risk posed by the Delta variant of the COVID-19 pandemic on […]

Headline Inflation Sustains Deceleration

Nigeria’s headline inflation moderated by 18bps to 17.75% y/y in June 2021 (May: 17.93% y/y) – the third consecutive month of decline and the lowest since February 2021 (17.33% y/y). The outturn is 8bps lower than Cordros’ estimate (17.83% y/y) and 5bps less than Bloomberg’s median consensus estimate (17.80% y/y), with the deviation coming from […]

Opinions View all


Pandemic causes tourism investment to plummet

The pandemic has battered the global tourism industry, with investment and job creation declining significantly in 2020, according to a report published today by fDi Intelligence, in association with the UN World Tourism Organization (UNWTO). UNWTO figures outlined in the report show that international arrivals in 2020 dropped by 73% from the previous year, precipitating […]

July 2021: MPC to Hold Rates Steady to Support Economic Recovery

The Monetary Policy Committee (MPC) is expected to hold its fourth meeting of the year on the 26th and 27th of July 2021. We expect the Committee to assess global and domestic macroeconomic and financial market developments and provide forward guidance on the timing of a change in monetary policy stance. Reopening of Economy, Base […]

Ecosystem collapse: Global GDP risks $2.7trn decline annually –WB report

The World Bank estimates that the collapse of select ecosystem services provided by nature can result in a decline in global Gross Domestic Product (GDP) of 2.7 trillion dollars annually by 2030. The bank, in a statement in Washington on Friday, said this was according to a newly published report, adding that Sub-Saharan Africa and […]

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