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The naira firmed up at the parallel market, Tuesday, gaining 9.65 per cent against the U.S dollar. The naira, which had weakened to a low N480 at the black market in recent months, firmed up from its previous trade of N477 on Friday. According to currency dealers, the planned resumption of forex sales by the…
September 2, 2020
As African Leaders Reimpose Confidence In Adesina's Leadership President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, Tuesday, unveiled his vision for Africa's growth and development in the next five years of his second term, promising to conquer new grounds for the bank. He delivered his inaugural address after being sworn-in as AfDB President…
September 1, 2020
The Lagos Chamber of Commerce and Industry (LCCI), has expressed worries over the state of the nation’s economy, asking policymakers to urgently consider reflating the economy by harmonizing the monetary and fiscal policies in order to confront the headwinds as the pandemic rages on. According to the second quarter GDP figures released on Monday, by…
August 25, 2020
Nigeria's Gross Domestic Product (GDP) decreased by 6.10% (year-on-year) in real terms in the second quarter of 2020. The figures released on Monday, put an end to the 3-year positive real growth rates recorded since the 2016/17 debilitating recession in Africa's largest economy. Another negative figure in the next quarter of the year will officially…
August 24, 2020
The World Trade Organization (WTO) has issued an information note outlining where and how trade costs may increase due to the COVID-19 pandemic. The report highlights transport and travel as having the most significant singular impact on international trade during the pandemic. The report titled, ‘Trade Costs in the Time of Global Pandemic,’ identifies three…
August 21, 2020
By Gbenga Abulude Prudential Zenith Life Insurance has donated the sum of One Hundred Thousand United States Dollars (US$100,000) to Slum2School Africa to help combat the impact of the COVID-19 pandemic on education in disadvantaged communities in Nigeria. The donation was made through a Corporate Social Responsibility (CSR) Fund from the Prudence Foundation, the community…
August 19, 2020
Oil prices eased on Wednesday on concerns that U.S. fuel demand may not recover as quickly as expected amid stalled talks on an economic stimulus package. The stimulus package is overshadowing a bigger-than-expected drawdown in U.S. crude stocks. With investors keeping one eye on a key producer countries’ ministerial meeting later in the day, Brent…
August 19, 2020
By Gbenga Abulude The Akwa Ibom State Government has rejected the National Bureau of Statistics (NBS) report which listed it as the second state with the highest unemployment rate in the country. The state government in a statement released by Mr Ini Ememobong, Commissioner for Information and Strategy, on Saturday, described the NBS report as…
August 15, 2020
....As other nations battle recession amidst challenges By Gbenga Abulude Poland is experiencing its first recession since the end of the communist era more than three decades ago, data published by Poland’s statistics office on Friday showed. The economy shrank by 8.9 percent in the second quarter because of the effects of the coronavirus lockdown,…
August 14, 2020
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The naira firmed up at the parallel market, Tuesday, gaining 9.65 per cent against the U.S dollar. The naira, which had weakened to a low N480 at the black market in recent months, firmed up from its previous trade of N477 on Friday. According to currency dealers, the planned resumption of forex sales by the…
September 2, 2020
As African Leaders Reimpose Confidence In Adesina's Leadership President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, Tuesday, unveiled his vision for Africa's growth and development in the next five years of his second term, promising to conquer new grounds for the bank. He delivered his inaugural address after being sworn-in as AfDB President…
September 1, 2020
The Lagos Chamber of Commerce and Industry (LCCI), has expressed worries over the state of the nation’s economy, asking policymakers to urgently consider reflating the economy by harmonizing the monetary and fiscal policies in order to confront the headwinds as the pandemic rages on. According to the second quarter GDP figures released on Monday, by…
August 25, 2020
Nigeria's Gross Domestic Product (GDP) decreased by 6.10% (year-on-year) in real terms in the second quarter of 2020. The figures released on Monday, put an end to the 3-year positive real growth rates recorded since the 2016/17 debilitating recession in Africa's largest economy. Another negative figure in the next quarter of the year will officially…
August 24, 2020
The World Trade Organization (WTO) has issued an information note outlining where and how trade costs may increase due to the COVID-19 pandemic. The report highlights transport and travel as having the most significant singular impact on international trade during the pandemic. The report titled, ‘Trade Costs in the Time of Global Pandemic,’ identifies three…
August 21, 2020
By Gbenga Abulude Prudential Zenith Life Insurance has donated the sum of One Hundred Thousand United States Dollars (US$100,000) to Slum2School Africa to help combat the impact of the COVID-19 pandemic on education in disadvantaged communities in Nigeria. The donation was made through a Corporate Social Responsibility (CSR) Fund from the Prudence Foundation, the community…
August 19, 2020
Oil prices eased on Wednesday on concerns that U.S. fuel demand may not recover as quickly as expected amid stalled talks on an economic stimulus package. The stimulus package is overshadowing a bigger-than-expected drawdown in U.S. crude stocks. With investors keeping one eye on a key producer countries’ ministerial meeting later in the day, Brent…
August 19, 2020
By Gbenga Abulude The Akwa Ibom State Government has rejected the National Bureau of Statistics (NBS) report which listed it as the second state with the highest unemployment rate in the country. The state government in a statement released by Mr Ini Ememobong, Commissioner for Information and Strategy, on Saturday, described the NBS report as…
August 15, 2020
....As other nations battle recession amidst challenges By Gbenga Abulude Poland is experiencing its first recession since the end of the communist era more than three decades ago, data published by Poland’s statistics office on Friday showed. The economy shrank by 8.9 percent in the second quarter because of the effects of the coronavirus lockdown,…
August 14, 2020
