Bank charges are back – CBN imposes N65 charge on ATM withdrawals [What does it mean to you?]

by Tunji Andrews The direct implication on the bank customer, who is already being charged for over the counter withdrawals below N20,000, is that he may have to hold on to more cash to avoid having to seek out ATMs. Customers, are however advised to stick to ATMs of their banks if they seek to... Read More

atm, bank, CBN, economy, Godwin Emefiele, nigeria, Sanusi Lamido

July 29, 2014

YNaija Editorial: So, what is the Jonathan government getting right?

This president’s record on security can rightly be graded negative, we are not yet winning the war against Boko Haram and we are failing on securing communities and states and building a frame of trust across the Nigeria. His federal government has also missed a huge opportunity to rally Nigerians in conduct, strategy and focus... Read More

July 23, 2014

Your bank still gets loans from CBN at 12%, then lend to you at xxx

By Tunji Andrews The Monetary Policy Committee (MPC) has retained the lending rate (MPR) at 12% after its meeting on Tuesday in Abuja. The Central Bank Governor, Godwin Emefiele, said the committee, after considering global economic indicators also retained Cash Reserve Requirement (CRR) of public sector fund at 75% and that of private sector at... Read More

Bank loan, CBN, Central Bank governor, central bank of Nigeria, economy, Godwin Emefiele, liquidity ratio, Loan application

July 22, 2014

Who woulda thunk it? Manufacturing is now biggest driver of Nigeria’s growth [DETAILS]

by Tunji Andrews An ironic twist in Nigeria’s economic story has presented itself with Renaissance Capital’s report that flags manufacturing as the major driver of economic growth in Nigeria. This is ironic because the country has been ridden with crippling power challenges that have historically been a key impediment to the development of manufacturing in... Read More

Business, Cement industry, economy, Federal Government, GDP, manufacturing in nigeriA, nigerian manufacturing, Oil and Gas, telecommunication, Textile, Who woulda thunk it? Manufacturing is now biggest driver of Nigeria’s growth [DETAILS]

July 12, 2014

Opinion: Taking a close look at Japan’s troubled economy

by Mustapha Abiola When he was elected, using the three arrow symbolism to attract voter appeal, I reckoned the Japanese people began to believe in a method to his magic. Perhaps then, they were foolhardy, or just lazy in thinking that they’d receive “free food” from Abe. No matter, in December of 2012, he became... Read More

abe, economy, japan, mustapha abiola, opinion, Prime Minister, thoughts, ynaija

June 6, 2014

Tony Rapu: Nigeria – 2015 and beyond

by Tony Rapu The children of Israel should have entered the Promised Land less than a year after their epic deliverance from bondage in Egypt yet they catastrophically failed to do so. Those who were supposed to lead the charge into Canaan lost heart at the prospect of having to contend for their inheritance by... Read More

2015, beyond, economy, elections, opinion, President Goodluck Jonathan, Tony Rapu, ynaija

June 4, 2014

Issa Aremu: Emefiele – The entry of another regulator

by Issa Aremu It is reassuring that Emefiele is committed to development financing. He was reported to have said that his immediate priority is beyond financial system stability to cover macroeconomic stability using the development-banking model. With the ascendancy of the former Group Managing Director/Chief Executive Zenith Bank Plc, Mr. Godwin Emefiele as the... Read More

CBN, economy, godwin emefiele.regulator, Issa Aremu, opinion, ynaija

June 2, 2014

Opinion: PDP and the growth of Nigeria’s democracy

by Sunny Okoro Like I said the PDP has actually grown our democracy from stage to stage because even some few years back many of the things we see and hear people say about the president of Nigeria today are unthinkable even in the thoughts of the mighty of the society As Nigeria marks another... Read More

critics, democracy, economy, growth, nigeria, PDP, security, sunny okoro

May 23, 2014

Just In: Pres. Jonathan signs 2014 Budget

by Akan Ido President Goodluck Jonathan has today signed the 2014 Budget. The Appropriation Act was passed by the National Assembly several weeks ago with the President delaying its to assent until today. Jonathan has, however, signed the law “after going through the statutory legislative processes.” The Information Minister, Labaran Maku, had last week told... Read More

2014 Budget, budget, economy, Finance, Goodluck Jonathan, ngozi okonjo iweala, nigeria, Politics

May 17, 2014

Muhammadu Buhari: On our economy and security – Nigeria should have one narrative on Boko Haram

by Muhammadu Buhari The way out of poverty is to get people to work. Workers should earn reasonable wages for their work and farmers reasonable prices for their produce. The government should have a second look at agricultural support. In the last couple of weeks, our country has attracted the world’s attention for the wrong... Read More

chibok, economy, government, kidnap, Muhammadu Buhari, opinion, security, ynaija

May 16, 2014

Cheta Nwanze: Lessons from the Nigerian economy

by Cheta Nwanze First lesson is that our government thinks that poverty alleviation is handing out largesses, creating jobs that do not exist, dashing out cutlasses and machetes. Nigeria as it is currently run is not economically viable, and going along the routes a lot of people are suggesting won’t solve the problem. Secession by one... Read More

Cheta Nwanze, economy, nigeria, opinion, Poverty alleviation, ynaija

April 22, 2014

Opinion: Nigeria, the strongest economy in Africa indeed

by Abiola Oladimeji One does not even need any foreign comment in order to know that the pronouncement of Nigeria as the biggest economy in Nigeria is meant to serve as propaganda rather than portraying the true situation of Nigeria. The Federal Government and some Nigerians, who regard any critic of President Goodluck Jonathan’s administration... Read More

abiola oladimeji, economy, jonathanian, nigeria, opinion, propaganda, ynaija

April 15, 2014

Demola Rewaju: Rebase the GDP all you can but we are still poor

by Demola Rewaju All that the announcement did was to make official something we’ve known all along but the way some are going on about it makes it seem as though poverty started under Goodluck Jonathan or that a better government can eradicate poverty. The true role of government is to create an enabling environment... Read More

Channels, Demola Rewaju, economy, nigeria, opinion, poverty, President Goodluck Jonathan, rebase, south africa, ynaija

April 13, 2014

Reno Omokri: Nigeria’s GDP rebasing adds value to every citizen

by Reno Omokri The thing that they fail to understand is that any Nigerian who discredits the rebasing of Nigeria’s economy is discrediting himself. It was Nigeria’s value that was rebased not the government’s value. The attempts by some individuals to deemphasize the recent rebasing of the Nigerian economy as something that should not be... Read More

economy, nigeria, opinion, opposition, rebase, Reno Omokri, sector, World Bank, ynaija

April 13, 2014

Simon Kolawole: Nigeria’s GDP rebasing – No, we haven’t arrived yet

by Simon Kolawole Good news. Nigeria now houses the largest economy in Africa. We achieved this by simple arithmetic we changed the base year of measuring our Gross Domestic Product (GDP) from 1990 to 2010. That means we have included new sectors that were previously not captured in the calculations. Trust me, a lot has... Read More

development, economy, GDP, nigeria, opinion, power supply, rebased, simon kolawole, ynaija

April 8, 2014

Opinion: Let’s talk about these new GDP numbers

by Ifeanyi Uddin Evidently, despite the new ginormous size of our economy, there is an equally humongous opportunity for improvement. We could glory in the many upsides of the new numbers: a lower debt-to-GDP ratio (down from 19% to 11%), lower budget deficit to GDP ratio, etc. So, finally, we are a bigger economy than... Read More

bragging rights, economy, GDP, Ifeanyi Uddin, new, nigeria, opinion, south africa, ynaija

April 7, 2014

Frank Onuoha: Nigeria is the largest economy in Africa – why we should care

by Frank Onuoha We made history – I like to think it is for good – by beating the South Africans to the race of becoming Africa’s largest economy and the 23rd largest economy in the world. When I read that, I thought “Wow!! Isn’t this lovely?” It is certainly a good thing that we... Read More

economy, Frank Onuoha: Nigeria is the largest economy in Africa- why we should care, great wealth, greta responsiblilty, largest economy, nigeria, Oil, Oil and Gas, oil economy, opinion, petrol, Petroleum, responsiblity

April 7, 2014

Cheta Nwanze: What Nigeria needs to know about the ‘global economy’

by Cheta Nwanze Today’s piece is about economic systems, the World Bank and the IMF, and whether they have they helped Nigeria or not. The reason I chose this particular topic for today is because of our new economic standing as Africa’s “biggest” economy. It took centuries before capitalism’s survival and future growth depended on... Read More

Cheta Nwanze, economy, global, IMF, nigeria, opinion, World Bank, ynaija

April 1, 2014

Atiku Abubakar: What the National Conference should focus on

by Atiku Abubakar I come from the north, and I can tell you that government’s reliance on oil revenues has virtually destroyed the economy of the north, and no part of Nigeria has been left unaffected. I had publicly expressed reservations about the National Conference that has just been inaugurated by President Goodluck Jonathan, especially... Read More

Agenda, dependence, economy, intention, National Conference, nigeria, north, Oil, opinion, SOVEREIGN, timing, ynaija

March 29, 2014

Adaobi Okwy: The church and a certain type of ignorance (Y! Superblogger)

by Adaobi Okwy The Holy Book says that we perish because of our lack of knowledge and I believe this to be true in every way. If God does not want us interested in OUR economy, why did Jesus pay tax? I was at the Sunday school Bible class on sunday where we were talking... Read More

Adaobi Okwy, certain, economy, ignorance, Jesus, knowledge, roll, Sunday School, Tax, the church, Y! Superblogger

March 27, 2014

Feyi Fawehinmi: Why Innoson’s Innocent Chukwuma is exciting (Warning: Long Read)

by Feyi Fawehinmi But the early days were characterised by him doing all sorts of different things as the opportunities came to him. Whereas back then he was at the mercy of crazy government policies and having to react to them as quickly as he could, today he can more easily influence government policies. I’ve... Read More

economy, Feyi Fawehinmi, government, India, innoson motors, Long Read, nigeria, opinion, ynaija

March 20, 2014

Opinion: The thin line between out of work and out of hire

by Uzoma Elenwoke Having stated my case, I would want to see our government take a stronger stance on unemployment in our country so that at least the death of our fellow citizens who died last Saturday looking for jobs will not be in vain. Unemployment is high when over 125,000 applicants in Lagos and... Read More

case, economy, for, govenrment, nigeria, opinion, revenue, unemployment, uzoma elenwoke, ynaija

March 8, 2014

Opinion: National Conference – The Ogonis are a part of Nigeria too

by Saatah Nubari The fact that the Ogoni’s have always addressed the issues of injustice meted out to them peacefully, without carrying arms or detonating bombs, right from the days of the late Human rights and environmental activist, Ken Saro-Wiwa to the present set of leaders, should have made the organizers of this event make... Read More

economy, ken sarowiwa, list, ogoni people, Oil, opinion, representation, Rivers State, Saatah Nubari, ynaija

March 1, 2014

Opinion: $20 billion is ‘missing’, ASUP is on strike & GEJ is still saying ‘no comment’

by Gladys Nwachukwu Through all this chaos, I have paused to wonder. ASUU might have called off their strike, but ASUP is still on strike, COEASU is still on strike, Students are still idle, $20 billion is still missing, and GEJ is still saying ‘no comment’. Indeed if anyone ever takes fancy to writing, one... Read More

boko haram, CBN, economy, gladys nwachukwu, media chat, my country, nigeria, opinion, president, ynaija

February 25, 2014

Opinion: How Africans underdeveloped Africa

by Amir Abdulazeez We are now in 2014, 42 years after the book: ‘How Europe Underdeveloped Africa’ by Walter Rodney was published. This is almost half a century, yet Africa is still in search of development. This time around, we truly know who are under developing Africa, certainly not the Europeans. The late historian, Professor... Read More

2030, africa, amir abdulazeez, economy, europe, killed, nigeria, opinion, quadruple, resouces, underdeveloped, walkie bomb, walter rodney, ynaija

February 13, 2014

Opinion: Lagos and the threat of Boko Haram

by Dele Agekameh Before the latest threat, security agents had uncovered and dismantled the plot by the alleged terrorists to plant cells in the western part of the country with Lagos as the headquarters. Security operatives, who later briefed the National Assembly leaders last year about the reality of the planned invasion of Lagos, told... Read More

boko haram, cripple, Dele Agekameh, economy, invade, lagos state, opinion, terrorists, ynaija

February 10, 2014

Opinion: Asari Dokubo is a big fat liar

by Bayo Oluwasanmi Only in Nigeria can the type of Dokubo – an anachronistic belligerent with a shrilled tone that’s so mean spirited – with such a limited understanding of people, ideas, politics, and civilized engagement, attract so much publicity and huge following by his loyal Ijaw people. Despicable rhetoric and the phony arrest of... Read More

2015 elections, Asari Dokubo, Ateke Tom, Bayo Oluwasanmi, bible, economy, Ijaw, militancy, Niger Delta, opinion, sanballat, Tompolo, ynaija

February 8, 2014

Opinion: 2014 Budget- The APC mob is out

by Abdullahi M. Seidu During the debate of the 2014 budget at the national assembly, the mob mentality of the APC lawmakers came to play. Instead of debating on substance, the APC lawmakers turned the chamber into a wrestling match. They left the substance of the budget and started running after shadows. The mobs are... Read More

Abdullahi seidu, Americans, APC, bills, block, Democrats, economy, frustrate, lai mohammed, mob, ngozi okonjo iweala, opinion, opposition, PDP, Republicans, ynaija

January 24, 2014

Chuba Ezekwesili: The effect of ‘I no get change’ policy

by Chuba Ezekwesili Interestingly enough, the issue of change might have a smaller counter-effect of increasing the exchange of goods and services. In scenarios of ‘change deficiency’, people end up buying more than they originally planned to. Most of us have experienced cases where we have to buy another bottle of coke or plate of... Read More

Chuba Ezekweseli, economy, effect, I-No-Get-Change-Policy, of, opinion, the, ynaija