The UK economy will shrink and perform worse than other advanced economies, including Russia, as the cost of living continues to hit households, the International Monetary Fund has said. The IMF said the economy will contract by 0.6% in 2023,…
LCCI projects positive growth for year-end
The Lagos Chamber of Commerce and Industry (LCCI) has projected that the Nigerian economy will end the year with a positive growth of three to four per cent. Dr Michael Olawale-Cole, president, LCCI, said this at the LCCI 134th Annual…
Event planners call for investment in, regulation of industry
Some stakeholders have urged governments to invest in and regulate the events and planning sector, in order to help businesses thrive, provide jobs and compete internationally. They spoke in separate interviews with the News Agency of Nigeria (NAN) on Thursday…
Bank of England expects UK to fall into longest ever recession
The Bank of England has warned the UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years. In its outlook for the UK economy, it said the country would face…
Rishi Sunak takes office as new British PM, faces daunting task
Rishi Sunak said on Tuesday he was not daunted by the scale of the challenge as he became Britain’s third prime minister in two months, pledging to restore trust, rebuild confidence and lead the country through an economic crisis. The…
Focus more on borrowing ideas, not money from China – Obi
Vice Presidential Candidate of the Peoples Democratic Party (PDP) in the 2019 elections, Mr Peter Obi, has said that borrowing progressive economic ideas from China will be more beneficial to Nigeria than taking public loans to pump into the economy.…
Obi laments Nigeria’s total dependence on oil, makes case for restructuring
Vice Presidential Candidate of the Peoples Democratic Party in the 2019 election, Mr Peter Obi, has described as a curse, Nigeria’s total dependence on oil revenue which, he said, has stopped people from critical thinking and innovating new ways to…
Buhari thanks Tinubu, Amaechi and Oshiomhole for victory
President Muhammadu Buhari has thanked the trio of Bola Ahmed Tinubu, Rotoimi Amaechi and Adams Oshiomhole for his victory in the presidential elections of Saturday February 23, 2019. In a 12 paragraph statement, Buhari who beat his main rival, Atiku…
Resurgent Economy: 10 things to know by Presidency
The Fourth Quarter 2018 Gross Domestic Product (GDP) results released recently by the National Bureau of Statistics (NBS) give lots of cause to cheer, the Presidency has said. A statement by the President’s spokesperson, Femi Adesina, contains 10 points why…
Economy gets first policy direction for 2019 today (Guardian)
In the absence of an approved budget for 2019, the Central Bank of Nigeria (CBN), will today, lead the way with a policy decision that revolves around interest rate and sustenance of interventions for frailties of fiscal authorities. The Monetary…
