Tag
NIGERIAN ECONOMY
The National Bureau of Statistics (NBS) recently released consumer price index (CPI) data for January 2024, revealing a significant escalation in the cost of imported food within the Nigerian economy.
President Bola Tinubu has reiterated his administration’s commitment to combating corruption and fostering a favorable business climate, encouraging Qatari investors to “report to him” if any Nigerian government official solicits a bribe from them.
CPPE has said that the outcome of the MPC meeting of 27th February 2024 would hurt the real sector of the economy.
Nigeria's Gross Domestic Product (GDP) recorded a growth of 2.74% for the full year 2023, according to the latest report by the National Bureau of Statistics.
The European Union Council allocates over €3 billion in investment annually into the Nigerian economy and provides 160,000 jobs
The United Nations Statistical Commission recommends the exercise be carried out every 5 years. Nominally, Nigeria’s gross domestic product (GDP) stood at $510 billion when the country rebased its economy in 2014.
The CBN will no longer intervene in the Nigerian economy through quasi-fiscal activities but focus on its core monetary policy mandate.
The quest by the Tinubu administration to revive the Nigerian economy and grow it to a $1 trillion GDP will no doubt require massive local and foreign investments.
A survey by Nairametrics around markets in Lagos and the Federal Capital Territory reveals that apart from food, which is the most necessary to life, there is a general lethargy of business activities in the markets.
The Finance Act 2023 introduced an additional 0.5% levy on goods imported from outside Africa, along with amendments to various tax laws.
Some financial experts have called on the incoming administration of Bola Tinubu to implement policies that would rapidly grow the Nigerian economy and win back the confidence of Nigerians.
Nigeria attracted a sum of US$1.060.73 as capital importation in Q4 2022, a sum lower than US$2.187.63 billion recorded in Q4 2021.