The Centre for the Promotion of Private Enterprise (CPPE) has warned that growing calls for unrestricted importation of petroleum products could push Nigeria towards deindustrialisation, weaken domestic industries and deepen the country’s economic dependence on imports. In a statement on Sunday signed by its Chief Executive Officer, Muda Yusuf, the group argued that Nigeria risks …
A recent Supreme Court ruling on the powers of the National Inland Waterways Authority (NIWA) could significantly alter Nigeria’s investment landscape for waterfront developments by ending years of overlapping regulatory demands on land adjoining waterways, according to an analysis by the Chairman of Alliance for Economic Research and Ethics LTD/GTE, Dele Oye. In his analysis, …
Nigeria can still pull itself out of its growing debt crisis, but only if the government urgently increases revenue, stops borrowing for consumption and enforces strict fiscal discipline, the Alliance for Economic Research and Ethics LTD/GTE has said. The group stated this in a new policy brief titled “Debt Without Discipline: Nigeria’s Familiar Fiscal Trap …
Despite the Central Bank of Nigeria’s (CBN) decision to keep its benchmark interest rate unchanged, economic experts warn that Nigeria may be staring at a prolonged period of high borrowing costs, as stubborn inflation, rising geopolitical tensions and shifting global capital flows continue to threaten growth and cloud the economic outlook. At the end of …
The Centre for the Promotion of Private Enterprise (CPPE) has commended the Central Bank of Nigeria’s decision to keep interest rates unchanged, describing the outcome of the 305th Monetary Policy Committee (MPC) meeting as a balanced response to Nigeria’s inflation challenges. In a statement issued on Wednesday, May 20, Chief Executive Officer of CPPE, Dr …
From lived experiences with diabetes to warnings about rising illness among young Nigerians, CAPPA’s new documentary examines how sugary drinks became woven into everyday life — and the growing health cost of that culture. Living With Diabetes Beyond the Label For 26 years, diabetes has been part of Osarenkhoe Ethel Chima-Nwogwugwu’s life story. But she …
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Wednesday defended the bank’s policy direction on inflation, foreign exchange management, SME financing, banking recapitalisation, customer complaints and external reserves, insisting that recent economic pressures stem largely from external shocks and that ongoing reforms remain on course. Speaking while responding to journalists’ questions …
Banks must go beyond traditional lending products and provide more flexible, structured trade solutions if African businesses are to take advantage of growing cross-border trade opportunities, a Corporate Banking Director at Absa Bank Tanzania, Nellyana Mmanyi, has said. Mmanyi made the call in a statement on Wednesday made available to Pinnacle Daily. She stated that …
The Central Bank of Nigeria (CBN) has retained its benchmark interest rate at 26.5 per cent, as policymakers weighed moderating inflation, stronger external reserves and growing global economic uncertainties. CBN Governor, Olayemi Cardoso, announced the decision on Wednesday at the end of the two-day 305th meeting of the Monetary Policy Committee (MPC) in Abuja. The …
The insurance sector has delivered strong returns on the Nigerian stock market over the past 52 weeks, with several stocks doubling, tripling and in some cases quadrupling in value, as the countdown to the industry’s recapitalisation deadline gathers pace. However, despite the sharp rally, the sector remains overshadowed by heavyweight performers in oil and gas, …
