inflation

September 17, 2016

4,285 megawatts; 0.5 per cent… | The 5 numbers that mattered this week

4,285 megawatts – The amount electricity companies currently generate according to the Transmission Company of Nigeria (TCN). $15 million – The amount of money belonging to former First Lady Patience Jonathan currently frozen by the EFCC. N350 billion – The amount FG plans to inject into economy next week. 18 – The number of Nigerians who died... Read More

economy, EFCC, Electricity, hajj, inflation, nigeria, Patience Jonathan, saudi arabia

September 16, 2016

#30Days30Voices: ‘For days now, the economic situation has worsened’

In recent months several financial institutions have been in the news for either laying off workers or having financial difficulties. Much like other sectors of the Nigerian economy, financial service sector is also groaning under the weight of the present economic situation. On today’s episode of #30Days30voices, a citizen tells us how the present economic... Read More

#30days30voices, bankers, banking, banks, Finance, inflation, nigeria, recession

September 13, 2016

Opinion: Can Nigeria actually spend her way out of this recession?

by Olamide Eyinla It is no longer news that Nigeria’s economy has slid into a recession. By definition, recession is a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. What this means is that either aspects or all sectors of... Read More

dollars, economy, FG, Forex, inflation, recession, supply, Tax

September 10, 2016

Nigeria to get loans from the World Bank, China

Barely a week after the Nigerian economy officially entered into a recession, the Presidency has announced that it would receive loans form the World Bank, China’s Exim Bank, and the Japan International Cooperation Agency. The loans, according to the presidency, are long-term loans with 1.25 percent interest rates over the space of 20 years and will... Read More

depreciating Naira, Economic recession, inflation, loans, nigeria, World Bank

August 31, 2016

Buhari is completely destroying Nigeria – PDP

The Peoples Democratic Party on Wednesday said President Muhammadu Buhari is “completely destroying the country.” In a statement released by its Director on New Media, Deji Adeyanju, the party quoted the GDP, inflation and unemployment figures of the country to support its claim. According to the PDP, the figures revealed that “the Nigerian President is destroying... Read More

destroying, economy, GDP, inflation, nigeria, PDP, Peoples Democratic Party, President Muhammadu Buhari, unemployment

August 22, 2016

Yemi Kale may be leaving the NBS – these are the 5 ways he transformed the place

On 16 August, the five-year tenure of Yemi Kale, the Statistician General of the Federation and chief executive officer of the Nigerian National Bureau of Statistics (NBS), came to an end. And boy will he be missed? https://twitter.com/solomonapenja/status/765122046787452929 You see, Kale was appointed by former President Goodluck Jonathan in August 2011 when he was just... Read More

CPI, economy, government, growth, inflation, NBS, nigeria, Statistics, sticky, Yemi Kale

August 19, 2016

The PDP has found Buhari’s sore point and they are hitting it hard

by Isime Esene Fifteen months after taking serious verbal attacks from the Peoples Democratic Party over the perfromance of the economy on Pres. Muhammadu Buhari’s watch, the All Progressives Congress (APC) party chairman, John Oyegun decided he’s had enough, choosing to hit right back. Oyegun who has been somewhat quiet in the past one year laid... Read More

APC, CBN, economy, exchange rate, inflation, John Oyegun, Muhammadu Buhari, nigeria, nnpc, Oil, PDP, revenue

August 19, 2016

PDP wants John Oyegun and his party members to know this… (READ)

The Peoples Democratic Party (PDP) on Friday responded to comments made by the national chairman of the All Progressives Congress (APC), John Oyegun Odigie that the latter has no moral right to criticize President Buhari on the economic situation of the country. Oyegun had said the PDP almost ruined Nigeria during its 16 years reign,... Read More

#MadeInNigeria, All Progressives Congress, APC, Chief Oyegun Odigie, GDP, inflation, Nigeria Economy, PDP, Peoples Democratic Party

August 18, 2016

Monetary policies alone won’t stimulate economic growth – Buhari

President Muhammadu Buhari has said monetary policy instruments alone cannot stimulate economic growth judging from the plethora of economic challenges in the country. The president stated this on Thursday while speaking at the opening session of the 2016 annual meeting of the Association of African Central Banks. The event which had the theme “Unwinding Unconventional... Read More

Association of African Central Banks., debts, Economic challenges, inflation, monetary policies, nigeria, President Muhammadu Buhari

August 10, 2016

El-Rufai blasts CBN’s monetary policies

Governor of Kaduna state, Nasir el-Rufai, on Wednesday said the Central Bank of Nigeria is making life difficult for Nigerians with its policies. He made the remark while speaking in Abuja at a roundtable organised by Women in Business. El-Rufai said the bank’s 14 per cent monetary policy rate has led to massive job losses in the... Read More

CBN, economy, inflation, interest rates, monetary policy, Nasir el-Rufai, Women in Business

Manasseh Egedegbe: Olajumoke explains what inflation is about

I met Olajumoke three years ago. She sold bread for a living in Lagos. We got talking about bread. She told me that her customers were complaining that the price of bread had gone up for no reason. She didn’t bother to explain to them because they wouldn’t make any sense of it, but as... Read More

inflation, manasseh, olajumoke, opinion, ynaija

213bn,12,915… | The 5 numbers that mattered this week

12, 915 The number of ghost workers discovered on the payrolls of 23 local governments in Sokoto N218.7 million The amount recovered on behalf of companies and residents of the state in the first half of 2016 by the Lagos State Citizens Mediation Centre. N213 billion The amount lost to ghost workers in Kogi State... Read More

billion, data, figures, ghost service, Ghost workers, inflation, Kogi State, naira, numbers

16.5%, $2.5bn… | The 5 numbers that mattered this week

16.5% The inflation rate for June, and the highest for 11 years, as reported by the National Bureau of Statistics. 39% President Buhari’s job approval rating for June, according to NOI Polls 1,446 The number of pipeline vandalism incidents so far in 2016, according to the NNPC N559 billion The amount shared by the three... Read More

Buhari, facts, figures, inflation, numbers, Power, Statistics

Inflation hits 16.5%, highest in 11 years

Nigeria’s inflation rate has increased to 16.5% in June, the highest in almost 11 years. This increase is presently making the task of the Central Bank of Nigeria, CBN, more difficult in an economy which is at risk of contracting this year. According to the National Bureau of Statistics, the inflation rate in Nigeria’s economy... Read More

CBN, inflation, National Bureau of Statistics, Nigerian Economy, prices

IMF predicts inflation surge for Nigeria

The International Monetary Fund (IMF) has admitted that the Nigerian economy will perform below the initial expectation of the IMF for the country this year. IMF actually said, on Monday in Abuja, the economy “will probably” shrink in 2016. The body’s resident representative in Nigeria said energy delayed signing of the budget as well as... Read More

Buhari, economy, France, IMF, inflation, leon gene, nigeria, Osinbajo

Oluwatosin Olaseinde: You are fired! – Nigerian banking sector (Y! Naira&Kobo)

The economy has been contracting and is on its way to an inevitable recession in the 2nd Quarter GDP. Although we believe the recent news of favourable foreign exchange policy is about to lift the market. Prior to this news, different sectors have employed means to adjust to the prevailing macro environment – inflation reaching... Read More

banking sector, GDP, inflation, nigeria, sack

Kalu Aja: How to keep investing in the time of inflation (Naira&Kobo)

by Kalu Aja So last week we saw the positive effects of having a financial plan and starting to invest early. We continue by speaking about being Constant in your Investment and watching inflation. Simply put if you invest N1 naira every day into an account for 55 years, you will have N20,075.00,... Read More

assets, inflation, investment, Kalu Aaja, liabilities, naira&kobo, net worth, nigeria, risk profile

3 things we learned from Tinubu’s Democracy Day statement

The National Leader of the All Progressives Congress (APC) and former Governor of Lagos state, Bola Tinubu, on Sunday, released a statement to mark Nigeria’s Democracy Day. Here are 3 things we learnt from the statement which was entitled “We must not take our democracy for granted.” 1) Tinubu’s life is devoted to democracy “I... Read More

APC, democracy, economy, inflation, nigeria, recession, Tinubu

Inflation for ‘dummies’: This is everything you need to know

The Nigerian Bureau of Statistics released its consumer price index (CPI) report for the month of April and its contents weren’t much of a surprise to Nigerians as any careful observer would have noticed the steady increase of consumer goods and products over time. Show me inflation: A report isn’t necessary to tell Nigerians that... Read More

april, CPI, inflation, march, nigeria, report

Increase in cost of food caused by rise in inflation (READ)

Nigerians are in for a bumpy ride as the country’s inflation rate rose up to 13.7 percent in the month of April as against the 12.8 percent it was in March. According to the just released April 2016 Consumer Price Index/Inflation (CPI) Report issued by the NBS in Abuja, the inflation rate in Nigeria is... Read More

april, CPI, Food, growth, index, inflation, nigeria

February 9, 2016

Directors, Permanent Secretaries in worry-mode over probe of inflated 2016 budget

Directors and permanent secretaries in ministries, departments and agencies of government are said to be jittery over the Presidency’s claims that the 2016 budget was inflated and over-bloated. The Presidency had over the weekend, revealed that a ‘mafia in the civil service’ had sabotaged the Federal Government’s budget The unnamed mafia were said to have... Read More

2016 budget, inflation, ministries, padding, Presidency

December 15, 2014

“Even though the Naira was devalued, inflation eased” – NBS

by Tunji Andrews In November 2014, the pace of price increases observed by the Consumer Price Index (CPI) which measures inflation eased for the third consecutive month. Prices rose by 7.9 percent (year-on-year), down by 0.2 percentage points from 8.1 percent recorded in October. The slower pace of price increases recorded by the Headline index... Read More

consumer, Food, inflation, naira, NBS

December 11, 2014

Wahala dey! Nigeria’s FX reserves down 19.5% to $35.8bn

by Tunji Andrews Indications of the official website of the Central Bank of Nigeria, has indicated that the country’s external reserves fell to $35.8bn on December 9, down 19.5%, down from the $44.5bn it was at same period in 2013. Off the back of the CBN’s intense defence of the Naira, which has seen the... Read More

CBN, crude oil, Foreign Reserves, Godwin Emefiele, inflation, nigeria

November 10, 2014

Inflation down for a second straight month

by Tunji Andrews In October 2014, the pace of price increases observed by the Consumer Price Index (CPI) which measures inflation eased for the second consecutive month. Prices rose by 8.1 percent (year-on-year), down by 0.2 percentage points from 8.3 percent recorded in September. The weakened pace of price increases recorded by the Headline index... Read More

cocoa, coffee, coicop, consumer index, dairy, Fish, Food, inflation, tea

September 15, 2014

Sound the alarm! Inflation rose by 8.3% in August

by Tunji Andrews In August 2014, the Consumer Price Index (CPI) which measures inflation recorded an uptick from the previous month. Prices rose by 8.5 percent (year-on-year), up 0.2 percentage points from 8.3 percent recorded in July. This was the sixth consecutive month of a faster increase in the pace of the Headline index relative... Read More

Consumer Price Index, CPI, farm produce, Food Index, inflation

August 19, 2014

Analysis: Really, is there anything the CBN can do to stop the current inflation? [HINT – NO]

by Tunji Andrews July’s Consumer Price Index (CPI) report, which posted an 8.3% rise (YoY) in inflation in Nigeria, happens to be the fifth consecutive month of year-on-year increases in the Headline Index. A persistent increase that has found its roots with the increase in food prices that has been attributed to drought and insurgency... Read More

boko haram, CBN, consumers, inflation, nigeria

August 18, 2014

The naira in your pocket is getting smaller according to the Statistics Bureau

by Tunji Andrews In July 2014, the Consumer Price Index (CPI) which measures inflation, edged higher from the previous month. Prices rose by 8.3% (year-on-year), up by 0.1 percentage points from 8.2% recorded in June. This is the fifth consecutive month of year-on-year increases in the Headline index. The faster pace of price increases recorded... Read More

CBN, consumption, Food, inflation, naira, NBS, nigeria

August 17, 2013

Opinion: Is the Nigerian economy deadlocked?

by Salim Salihu Muhammed No doubt, Nigeria is making progress in industrial growth, the absence of infrastructure to complement the concerted efforts of attracted investments is slowing down employment opportunities that abounds the ever increasing work force. Many countries over the world, including “third world countries” had had one plausible transformation stride or the other,... Read More

deadlock, GDP, growth, hiv, honest governance, inflation, nigerians, opinion, poverty, Salim Salihu Muhammed, unemployment, World Economic Forum, ynaija

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