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NIGERIA ECONOMY
President Muhammadu Buhari has signed the 2021 Appropriation bill of N13.5 trillion into law.
The IGR generated by the 36 states including the FCT in the first half of the year, dipped by 11.7%.
Nigeria's inflation rate rose by 12.82% (year-on-year) in July, compared to 12.56% recorded in June 2020. This is...
Nigeria's unemployment rate as at the second quarter of 2020 is 27.1% meaning about 21.7 million Nigerians remain unemployed.
The report also showed that composite food index rose to 15.18% compared to 15.04% recorded in May 2020.
Inflation rate rise to 12.4% in May, 0.06% points higher than 12.34% recorded in April.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N780.93bn to the three tiers of government in April 2020 from the revenue generated in March 2020. The disbursement increased by 34.28% and 20.63% compared to N581.57 billion and N647.35 billion that were allocated in March and February 2020 respectively.
Nigeria’s total foreign trade (import and export) rose marginally by 0.8% year on year, when compared to N8.24 trillion recorded in the corresponding quarter of 2019.
There is no doubt that the COVID-19 pandemic has proven to be a serious challenge to the global economy, Nigeria inclusive.
Data from the National Bureau of Statistics (NBS) reveal that Nigeria’s inflation rate increased by 12.20% (year-on-year) in...
KPMG has revealed 7 fault lines that may distort the growth of the Nigerian economy over the new decade.
The World Bank in its latest report has downgraded Nigeria's growth prediction for 2019 to 2.1% as against the earlier growth forecast of 2.2%. The disclosure was made in the June 2019 edition of the World Bank's Global Economic Flagship Report.