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Nigeria’s inflation lowers, still regional highest

The National Bureau of Statistics (NBS) has released July inflation numbers on Friday, showing a decline by 0.14% to 11.08%. Nigeria remains the country with the 8th highest inflation in the African continent. In the region, average inflation in 2019 is projected to be 8.4%. Nigeria’s inflation has consistently been above the regional average in the…

RUGA settlements: Our hope, our fear, by Gidado Yushau Shuaib

Incontrovertibly, the recently suspended Ruga Settlement project was an initiative of President Muhammadu Buhari-led administration. The rationale behind such project was to help eliminate the age-long practice of open grazing of cattle by Fulani pastoralists, which has been the cannon fodder for farmer/herder clashes. Shortly after the announcement of the program, different shades of opinion…

EU to provide 40bn euros in grants to help create jobs in Africa

The European Union Commission fully supports the African Continental Free Trade Agreement (AfCFTA) and is proposing a 40 billion Euro package to attract investments that would create at least 10 million jobs in Africa. This was revealed by Ambassador Ranieri Sabatucci, the EU Ambassador to the African Union, in an opening address to a two-day…

Reps will end overbearing regulation of private businesses in Nigeria – Gbajabiamila 

The Speaker of the House of Representatives, Femi Gbajabiamila, said the lawmakers would remove overbearing regulations of private businesses in Nigeria. Gbajabiamila, who spoke in an address at the 13th yearly Business Law Conference of the Nigerian Bar Association, NBA, held at Eko Hotels and Suites, Victoria Island, Lagos, said this would ultimately improve the…

Implications of CBN five-year monetary policy

CBN unveils five-year policy thrust aimed at supporting Nigeria’s macro-economic growth and development. Implications: Banks’ capital buffers to be strengthened by proposed recapitalisation, but risk ROAE dilution Yesterday, the CBN governor unveiled his policy thrust for the next five years. Although the policy document outlines a number of objectives, the most important ones include a) the…

ECA supports Chad to fresh-out AfCFTA

A retreat to size up the stakes of the African Continental Free Trade Area (AfCFTA) for the Republic of Chad and lay the foundation for the country’s strategy to leverage it, ended in Mara, Chad, at the weekend, with experts from the UN Economic Commission for Africa (ECA) allaying fears around the county’s participation in…

Average fuel price decreases marginally in May

Average price paid by consumers for premium motor spirit (petrol) decreased by -3.4% year-on-year and -0.6% month-on-month to N145.0 in May 2019 from N145.9 in April 2019. States with the highest average price of premium motor spirit (petrol) were Ebonyi (N146.25), Kwara (N146.14) and Niger (N146.11). States with the lowest average price of premium motor…

Inflation increases 11.40% in May 2019

The consumer price index, (CPI) which measures inflation increased by 11.40 percent (year-on-year) in May 2019. This is 0.03 percent points higher than the rate recorded in April 2019 (11.37 percent). Increases were recorded in all COICOP divisions that yielded the Headline index. On month-on-month basis, the Headline index increased by 1.11 percent in May…

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