Tag: Macro-Economic News

Article summary The manufacturing sector’s contribution to Nigeria’s Gross Domestic Product (GDP) between 2018 and 2022 fluctuated between 8% and 9%.   In the past five years, the sector contributed…

Article Summary He said this recently at Nairametrics’ Quarterly Economic Outlook themed: Fostering Economic Resilience: Harnessing Opportunities for Development. The panel of discussion featured prominent economists, including Dr Muda Yusuf,…

Article Summary Nigeria’s foreign trade in the first quarter of 2023 decreased by 17.5% compared to the same period in 2022 but increased by 2.8% from the previous quarter. The…

Article Summary  Since most sectors are underperforming, this happened to be the reason main Nigeria is unable to achieve its potential for economic growth.  Political instability for a long period…

Article Summary  When you increase taxes, you are squeezing household expenditure and squeezing business expansion.  Public sector reform should not just be the usual rationalization of the public sector but…

Article summary Leading economist Dr. Yemi Kale highlighted Nigeria’s unique economic advantages during the Nairametrics Economic Outlook event, emphasizing its people, resources, and strategic location. Dr. Kale noted that Nigeria’s…

Article Summary Dr Yemi Kale said new PMS price could contribute 6% to CPI.  According to him, CPI for June could rise to 30%.  NBS recorded 22.22% in CPI for…

Article Summary The President of the World Bank has said multiple exchange system rates being operated by Nigerian and other developing economies lead to high inflation and discourage investment in…

Article summary Nigeria’s Tax-to-GDP ratio in the last 12 years hovered between 4-6% and rose to 10.86% by the end of 2021 The revision took into account revenue items hitherto…

Nigeria’s new president Bola Ahmed Tinubu has announced the decision of his government to unify the exchange rate effectively doing away with the multiple exchange rate regime characterized by the…