WORLD Bank officials have warned that Nigeria may have one of the highest inflation rates globally in 2022 as the incessant rise in consumer prices is pushing basic goods and services beyond the reach of most average Nigerian households.
According to the World Bank, Nigeria is projected to have one of the highest inflation...
MEMBERS of the House of Representatives has passed the 2022 budget into law with the annual allocation to the National Assembly rising to N139bn ($337.29m) despite the hard times the country is facing.
Nigerian lawmakers are among the highest paid in the world despite the fact that the country is the poverty capital of the...
Ayo Akinfe
As we reel from the effects of the travel apartheid, I have been wracking my brains to look for a solution to the problem of the African being regarded as sub-human. No matter how you look at it, this prejudice and bias will never go away until we have an African economy that sits at the high table of humanity
Just...
WORLD Bank officials have criticised the Nigerian government’s exchange rate management policies saying they are discouraging investments and fuelling inflation in the country.
Highlighting this in the November edition of its Nigeria Development Update, the World Bank pointed out that the Central Bank of Nigeria's (CBN)...
AS many as 6m more Nigerians will be pushed into poverty between June 2020 and June 2021 as a result of the economic fallout from the coronavirus pandemic according to a recent report just published by the World Bank.
Like many other developing nations, Nigeria, suffered greatly from the effects of the global pandemic, as...
GOVERNMENT ministers have said they are not panicking about the fact that Nigeria's debt-to-gross domestic product (GDP) ratio has ballooned to 33% as a result of increased borrowing brought about by the coronavirus pandemic.
Due to the global pandemic, Nigeria has had to resort to heavy borrowing, with as much as a third of...
NIGERIA'S senate has approved President Muhammadu Buhari's request for an additional $16bn loan and an extra €1bn worth of borrowing to help the government fund its budgets under the 2018-2020 External Borrowing Plan.
Due to the debilitating effect of the coronavirus pandemic, Nigeria is totally unable to fund its annual...
By Ayo Akinfe
If you ask me, what we are currently witnessing is a war. This time it is not against guns and bullets but the effects are the same and as with the case with any war, you need a reconstruction plan. Every war is always followed by a reconstruction plan and this is no different. Does Nigeria have a post-coronavirus...
WORLD Bank officials have decried the continued spending by the Nigerian government on petrol subsidy which is on track to gobble up N2.9tn ($7bn) this year which economists say could be better spent on social programmes and infrastructure.
Speaking at a panel session during the 27th National Economic Summit in Abuja,...
INTERNATIONAL Monetary Fund (IMF) forecasters have slightly increased Nigeria’s growth prospects to 2.6% and 2.7% for 2021 and 2022 respectively amid signs that the economy has now overcome the worst of the coronavirus pandemic.
Following the impact of the Covid-19 crisis, Nigeria suffered from negative economic growth,...
