Category: Economy

RECESSION LIKELY ENDED IN JUNE- NBS, BANKERS SUGGEST

Statistician-General, Yemi Kale There is likelihood that the economic recession in the country ended in the second quarter of the year following some improvements in some sectors of the economy, the Statistician-General and the Bankers Committee noted yesterday. Yemi Kale, chief executive officer of the National Bureau of Statistics told […]

ECONOMIC RECOVERY CAN RELAPSE, CBN WARNS

The Central Bank of Nigeria (CBN) has warned that Nigeria’s fragile growth risks falling back into recession. Addressing reporters at the end of the bi-monthly Monetary Policy Committee Meeting in Abuja yesterday, CBN Governor Godwin Emefiele said “forecasts of key macroeconomic indicators point to a fragile economic recovery in the second quarter of the year”. ”The Committee  cautioned that this recovery could […]

WHY INVESTORS ARE RUNNING AWAY FROM NIGERIA – PETROLEUM MINISTER, IBE KACHIKWU

Okechukwu Nnodim, Abuja There is some level of latent difficulty for investors to come and invest in Nigeria due to security concerns, among other issues, the Minister of State for Petroleum Resources, Ibe Kachikwu, has said. This is coming as the Group Managing Director of the Nigerian National Petroleum                               Corporation, […]

OPEN MARKET PRICE OF PETROL NOW 148 NAIRA PER LITRE SAYS BUREAU OF STATISTICS

The Nigeria’s downstream petroleum industry lost about N884.8 million in seven days to the high cost of importing Premium Motor Spirit (PMS), also known as petrol, resulting from a differential of N3.16 per litre. PHOTO: GOOGLE.COM/SEARCH Import differentials result in N884.8m losses weekly The Nigeria’s downstream petroleum industry lost about […]