First Nation Airways, one of the local airlines that announced winding down operations in Nigeria, due to economic meltdown, has made a u-turn saying it will now resume operations before September 15, 2016. The airline Monday morning in a statement signed by its Corporate Affairs head, Rasheed Yusuff, said the press misquoted management by concluding that the airline had wounded down it operations, indefinitely. But sources said First Nigeria management was summoned last week by the government immediately after the news break on the airline’s grounding of…
Tag: inflation
Nigerian Economy: Moody’s predicts further rise in inflation
Moody’s, the global rating agency, has predicted a further rise in the already historic high in the nation’s inflationary rate to 18 per cent. According to a Global Credit Research report released by the rating agency in Dubai, Moody’s said the depreciation implies a material loss in purchasing power given import-price inflation, adding that it…
As Nigeria Admits Sliding Into Recession
The Nigeria Bureau of Statistics ( NBS) during the week told us what we already know- that Nigeria is in recession. To me, Nigeria has always been in recession and they just stated the obvious. The years the locust has eaten has caught up with us. Failed policies, or rather inconsistent policies and kleptocracy of…
Inflation, Nigerians And The CBN: A Wrong Prescription
Prices have continued to rise and our ability to pay for basic and essential items has continued to fall, so are our wellbeing and our prosperity. Investment for the future by firms and individual households are on the decline. Every person on the street accepts that we are faced with inflation. So, the Central Bank…
One Thing We Can’t Take Away From Buhari’s Government Is Honesty – Lai Mohammed
Abuja – The Minister of Information and Culture, Alhaji Lai Mohammed, has allayed the fears of Nigerians over the National Bureau of Statistic’s data which indicates that the country is on economic recession. The Minister, on Friday in Abuja, said that the Federal Government is on top of the situation. “What I can assure you…
One Thing We Can’t Take Away From Buhari’s Government Is Honesty – Lai Mohammed
Abuja – The Minister of Information and Culture, Alhaji Lai Mohammed, has allayed the fears of Nigerians over the National Bureau of Statistic’s data which indicates that the country is on economic recession. The Minister, on Friday in Abuja, said that the Federal Government is on top of the situation. “What I can assure you…
Moody’s Predicts Inflation In Nigeria To Rise In December By 20%
Subdued growth in the economy for oil-rich Nigeria could be undermined if the country’s production levels don’t recover, Moody’s Investors Service said. The Nigerian Bureau of Statistics said last month the economy had slipped into recession. A member of the Organization of Petroleum Exporting Countries, the oil-sector contribution to total real gross domestic product for…
BRIEF-Moody's : Nigeria's government liquidity pressures rising amid growth and inflation challenges
* Moody’s: Nigeria’s government liquidity pressures rising amid growth and inflation challenges
PDP TACKLES BUHARI ON NATION’S RECESSION
Nothing better showcases the absolute ineptitude and incompetence of the Muhammadu Buhari administration than the GDP, inflation and unemployment figures released by Nigerian Bureau of Statistics Peoples Democratic Party, PDP, has asked President Muhammadu Buhari to resign for the recession indicators in the economy as revealed by the National Bureau of Statistics, NBS, on Wednesday….
Resign for destroying our economy, PDP tells Buhari
The People Democratic Party (PDP), has reacted strongly to figures released on Wednesday by the National Bureau of Statistics (NBS), which showed that the Nigerian economy had entered the worst form of recession in 29 years. The party, in a statement issued by Deji Adeyanju, its Director of New Media, said the implication of this…
Nigeria slips deeper as inflation hits 17.1%, GDP declines by 2.06%
By Odunewu Segun Nigeria’s economy slipped deeper into recession as recent statistics released by the Nigerian Bureau of Statistics showed that inflation has continued to soar, rising from the previous 16.5 per cent recorded in June to 17.1 per cent in July. From the statistics, the onset of the harvest season is also yet to…
Altering economic policies under Buhari in order
The Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, has declared that there was nothing wrong in the administration of President Muhammadu Buhari changing any of its economic policies. He spoke at the backdrop of alleged inconsistency in some of the government economic policies. Speaking to newsmen, he said that…