Nigeria’s 2024 budget, signed by President Bola Tinubu, has sparked both optimism and apprehension as the country seeks economic revival amid ongoing challenges. The budget, which includes priorities such as defence and internal security, job creation, macroeconomic stability, improved investment environment, human capital development, poverty reduction, and social security, has been increased in size […]
Global investors anticipate that the US Federal Reserve will continue raising interest rates, which caused the yield on the US 10-year treasury (US10Y) to cross the 5% threshold for the first time in 16 years. Even after US Federal Reserve Chairman Jerome Powell recently indicated that the institution intended to keep interest rates constant, the […]
Since more than ten years ago, numerous studies and research projects have been conducted on the existential threat that climate change poses to the Nigerian economy. All of these studies have demonstrated that, if immediate positive action is not done, the economy will continue to decline. Although Nigeria has implemented policies and programs to address […]
Inflation is a gradual rising in the overall cost of commodities and services. Certain goods may noticeably go up in price, while others may become cheaper, as well as some goods may not change in price at all. Inflation is assessed by the set of products, goods, and services that the average person or family […]
Nigerian businesses from manufacturers to importers, who have been on a long queue for dollars may have cause to heave a sigh of relief as the Central Bank of Nigeria (CBN) has announced plans to clear foreign exchange (Forex) backlog obligations in the next two weeks. Acting Governor of the CBN, Adebisi Shonubi at a […]
Once you are finally ready to make payments on your student loans, it might seem like a pretty straightforward thing to do, just start paying, right? But depending on when you pay and even when you don’t pay, you can get burned and end up owing your lender way more money than you assumed you […]
The foreign exchange (FX) market closed on Monday with naira losing its value against the dollar by 4.26% due to low dollar liquidity. Low liquidity means low transactions by FX market dealers as a result of dollar scarcity. The market liquidity, which represents the volume of transactions or the daily market turnover declined by 62.02% […]
Have you been in a situation whereby you have saved a decent amount of money and you want to make some good investment decisions? You don’t want to keep the money idle in the bank because it gives you no value in return. At the same time, you don’t want to tie the money down […]
The truth is that “fuel subsidy is gone,” despite the validity of any arguments in favour or against it. The price of gasoline would undoubtedly increase and continue to increase because the government will no longer pay for a portion of the expenses related to providing it to Nigerians. President Bola Ahmed Tinubu has reaffirmed […]
The Nigerian Government through the Federal Inland Revenue Service, FIRS, announced the VAT Direct Initiative, a scheme that would enable FG to collect Value Added Taxes from the informal sector and reduce multiple taxations in the informal economy. The FIRS disclosed this in a statement on Monday afternoon, stating that it FIRS is partnering with […]