Inflation, malnutrition, insecurity hit 32m Nigerians with severe suffering
Post AMUGE
August 31, 2024
Business a.m. Over 31.8 million Nigerians, particularly women and children, are facing severe hunger and malnutrition, a crisis largely driven by the spike in food prices and exacerbated by the removal of fuel subsidies and ongoing security challenges. The extent of this pressing humanitarian crisis was laid bare in the most recent report by the […]
Nigerians borrow N4.82trn in Q1’24 as consumer confidence slides to negative 9.1 points
Post AMUGEAugust 29, 2024
Business a.m. The Household Expectations Survey for July 2024, conducted by the Central Bank of Nigeria (CBN), has indicated a sharp decline in consumer confidence among Nigerians, with the index for the next three months plummeting to a worrying negative 9.1 points. The survey, which collected data from 1,665 households across the country, has revealed […]
Nigeria’s economy expands 3.19% in Q2 driven by service sector growth
Post AMUGEAugust 26, 2024
Business a.m. Nigeria’s economy, led by the services sector, expanded at a robust pace in the second quarter of 2024, with gross domestic product (GDP) growth clocking in at 3.19 percent, exceeding the growth rate of 2.51 percent recorded in the same quarter of the previous year and the 2.98 percent growth achieved in the […]
FG, sub-nationals share N1.358 trn revenue allocation in July
Post AMUGEAugust 19, 2024
Business a.m. The Federation Account Allocation Committee (FAAC) has distributed a total sum of N1.358 trillion among the three tiers of government in Nigeria as federation revenue allocation for July. The disbursement came from the gross total of N2.613 trillion generated during the reference period. Wale Edun, the minister of finance and coordinating minister of […]
Nigeria’s inflation eases slightly as seasonal harvest cools rising prices in July
Post AMUGEAugust 15, 2024
Down 33.40% from 34.19% in June Onome Amuge After months of battling high inflation, Nigeria’s economy recorded a cooling in July 2024 as the country’s inflation rate dropped to 33.40 percent, the lowest level in over a year. The 1.79 percentage point decrease from June’s inflation rate was primarily due to a moderation in food […]
Is the future informal? – Key takeaways from the Moniepoint Informal Economy report
Post AMUGEAugust 15, 2024
Bemigho Awala For a lot of individuals, organisations and even governments, the question of what the future holds is a pertinent one – oftentimes fraught with apprehension while at other times, a calm assurance. But one thing is clear – we must never lose sight of the future because, in there lies the possibility that […]
Nigeria inflation rate eases to 33.40% in July
Post AMUGEAugust 15, 2024
Business a.m. Nigeria’s persistent battle with inflation showed signs of improvement in July 2024, as the country’s inflation rate declined to 33.40 percent from the 34.19 percent inflation rate recorded in June 2024, marking the lowest rate in over a year. The National Bureau of Statistics (NBS) disclosed the latest inflation figures in its Consumer […]
Analysts pounce on Tinubu’s speech as tone deaf to protesters’ demands
Post AMUGEAugust 5, 2024
ONOME AMUGE IN LAGOS Analysts have expressed strong criticism of President Bola Tinubu’s Sunday nationwide address, which they observed, failed to adequately address the key demands of the #EndBadGovernance protesters. The protest movement, which has been mounting pressure on the government to tackle widespread hunger and the high cost of living in Nigeria, has garnered […]
Nigeria’s $1trn economy ambition requires expansion beyond banking sector- Report
Post AMUGEAugust 1, 2024
Business a.m. The Nigerian government has been charged to broaden its economic growth strategy beyond relying solely on the banking sector in order to reach the ambitious target of a $1 trillion economy. Speaking at the unveiling of the Afrinvest 2024 Banking Sector Report, themed ‘Recapitalization: Catalyst for a $1 Trillion Economy?’, Chioke Ike, the […]
Analysts worry over outcomes of #EndBadGovernance protests
Post AMUGEJuly 29, 2024
Economy put on edge ₦trillion losses if protests become violent ONOME AMUGE IN LAGOS The rumblings of protest have begun to reverberate across Nigeria, as civil society groups and disaffected citizens unite under the banner of #EndBadGovernance to decry the economic struggles faced by the populace. But as the movement gathers momentum, with plans […]