The latest Gross Domestic Product (GDP) numbers from the National Bureau of Statistics (NBS) have shown in many ways that the Nigerian economy is not only fast adjusting but also adapting to the national economic reforms being spearheaded by the President Bola Ahmed Tinubu administration. The reformation is headlined by the twin policies of fuel…
Policy Statement 12 The World Bank projects that the value of Nigeria’s Gross Domestic Product in 2024 will reduce to $394.94 billion at current prices, that is, a decline of $82.44 from the 2022 size when it was stated to be $477.38 billion. This projected shrinking of the size of the Nigerian economy will reflect…
Policy Statement 11 We feel enthused over the acknowledgement, across the country, of the reversal of the spiral downward slope of the Nigeria’s national currency, the Naira, by the Central Bank of Nigeria (CBN). We have observed that the downward slide of the Naira has not only been arrested, but it is gradually stabilizing against…
Policy Statement 10 We have observed with dismay the seeming congenital amplification of the numbers of companies that had shut down operations in Nigeria or relocated out of the country by corporate sector advocacy groups and the opposition. This is noticeably done with derision as they make to cast the country in the frame of…
Policy Statement 09 We have observed that for the first time in over two decades, capital expenditure funds are higher than allocations to recurrent. By the nation’s annual budget precedence, this is remarkable considering the age-long national aspiration to engineer a budget that is perceived as a true capital expenditure fiscal instrument. A recurrent budget,…
Policy Statement 08 To understand the nation’s current economic milieu, we have to go back to June 15, 2016. Nigeria’s central bank, on that day, announced it would abandon its currency’s dollar peg in preference for a free float of the Naira in an effort to alleviate the chronic foreign currency shortages choking growth in Africa’s…
Policy Statement 01 We have observed the raft of policies’ issuance by the Central Bank of Nigeria (CBN) in its bid to facilitate harmony and stability in the nation’s foreign exchange market. One of the policies addresses the Net Open Positions of Nigeria’s Deposit Banks. The policy relates directly to concerns over the quantum of…