Nigeria’s inflation eases slightly as seasonal harvest cools rising prices in July
Post AMUGE
August 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 […]
Aig-Imoukhuede Foundation focuses on public sector reform challenges
Post AMUGEJuly 29, 2024
To unveil research study on public sector reforms Workshop to discuss outcome of study, others Business a.m The Aig-Imoukhuede Foundation (AIF) will shine light on the challenges encountered when embarking on public sector reform when it convenes a national workshop aptly titled “Rethinking Reforms: Why Many Reforms Fail in Nigeria and What We Can […]
CBN hikes MPR by 50 basis points to 26.75%
Post AMUGEJuly 23, 2024
Business a.m. The Central Bank of Nigeria (CBN) has once again hiked its monetary policy rate (MPR), marking the 11th consecutive increase since May 2022. The MPR, which serves as a benchmark for determining interest rates in the country, was raised by 50 basis points to 26.75 percent, representing a steady increase in the cost […]
Hawkish MPC rate expectation, but Afrinvest, Uwaleke, Yusuf vote ‘HOLD’
Post AMUGEJuly 22, 2024
CBN conventional inflation tool failing Aggressive rate hike taking toll on production Monetary policy instrument overstretched But 25bps to 100 bps rise in MPR seen PHILLIP ISAKPA IN LONDON, UK HOLD! HOLD! HOLD! This is the vote and the call by two leading Nigerian analysts and one investment banking firm to members of the […]
IMF lowers Nigeria’s 2024 economic outlook to 3.1% amid weak Q1 performance
Post AMUGEJuly 17, 2024
The International Monetary Fund (IMF) has revised its previous prediction for Nigeria’s economic growth in 2024, lowering the forecast from an initial estimate of 3.3 percent to 3.1 percent. This downward adjustment, according to the IMF, was driven by the weaker economic growth recorded in the first quarter of the year, signaling a potential slowdown […]