Category: Economy
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Special Report: Examining implications of CBN’s 14% monetary policy rate
Rising inflation rate which peaked at 18.6 per cent in June, unsettled members of Nigeria’s Monetary Policy Committee (MPC), resulting in a unanimous vote to tighten the Monetary Policy Rate (MPR) from 13 per cent to 14 per cent.
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We are in a major crisis – Airline operators lament
The Airline Operators of Nigeria (AON) has said the aviation sector of the Nigerian economy has been hit by a major crisis with the acute scarcity of aviation fuel otherwise known as Jet-A1.
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CBN tasked on supply-side instruments to tackle inflation
The Lagos Chamber of Commerce and Industry (LCCI) has stressed the need for a corresponding boost to supply-side factors of inflation to accompany the monetary policy instruments by the Central Bank of Nigeria (CBN) to tackle inflation.
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Why we raised interest rate – CBN Governor, Emefiele
Indications have emerged on why the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) raised from 13 per cent to 14 per cent the Monetary Policy Rate (MPR), which measures the interest rate in the country. TheNewsGuru.com (TNG) reports Mr Godwin Emefiele, Governor of the CBN announced the decision to raise the interest rate…
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BREAKING: Nigeria’s inflation rate hits 5-year high at 18.60%
The National Bureau of Statistics (NBS) has announced headline inflation for the twelve months period ending June 2022 was 18.60%.
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Fuel subsidy: NNPC pays N74bn to marketers in 7 months
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has paid the sum of N74 billion to oil marketers as bridging claims in the past seven months. The authority made this known in a statement signed by Mr Kimchi Apollo, the General Manager, Corporate Communications, NMDPRA, on Wednesday in Abuja.
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Expensive Diesel and The Expansive Economic crisis – By Dakuku Peterside
Diesel has become a local symbol of the global energy crisis and Nigeria’s expansive economic woes. The astronomical rise in the price of diesel, the fuel that powers a large part of the industrial, commercial, and domestic activities in the Nigerian economy, has sent chills and ripples throughout the economy, from manufacturing giants through medium-sized…
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Food prices continue to increase – NBS
The National Bureau of Statistics (NBS), says prices of selected food items increased in May. It made the declaration in its Selected Food Prices Watch Report for May released in Abuja on Wednesday.
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Nigeria owing $450m in foreign airline revenue repatriation – IATA
The International Air Transport Association (IATA) has alleged the Nigerian Government is preventing foreign airlines from repatriating the sum of $450 million (about N188.6 billion) revenue earned from ticket sales, to their respective countries. IATA’s Regional Vice President, Africa & Middle East Kamil Al-Alawadhi, made this known on Sunday during a press briefing, against the…