“The servicing and defense of the weakening naira with country’s accumulated foreign reserve is not sustainable with shrinking war chest.” – Emeka Chiakwelu, Policy Strategist at AFRIPOL The state and wellbeing of Nigeria’s economy is gradually but steadily losing its momentum and steam, while simultaneously taking its casualty. The first casualty is naira and […]
Nigeria Inflation at 9.1%, GDP 6.56%, Interest rate 12%: What next for the economy?
http://afripol.org Nigeria inflation rate in 2013 continues to be below 10 percent for the fourth month in a role. According to the numbers coming from The National Bureau of Statistics (NBS), the 2013 April inflation rate stood at 9.1 per cent, much higher that of March 2013 which was 8.6 percent. "Sanusi and his gang […]
Nigeria’s inflation at 9%.: Making sense of the Development
Commentary and Analysis The recent statistics coming from the country’s National Bureau of Statistics (NBS) recorded an inflation rate of 9 percent in January of the first quarter 2013. The drop from 12 percent inflation rate of December 2012 to the new low at 9 percent is a breakthrough for Central Bank of […]
Nigeria Economic Activities: Inflation, Interest Rate and CBN Meeting
http://afripol.org/ Inflation rate at 12.9%, Central Bank of Nigeria (CBN) retains interest rate at 12 percent. But economic activities are becoming unpredictable. The two-day meeting of Central Bank of Nigeria‘s Monetary Policy Committee (MPC) ended with a lukewarm outlook, projection and pronouncement on the state of the economy by the Governor Sanusi, the head of […]
Nigeria’s Economic growth and Statistics: Interest Rate, Real GDP, Employment and Inflation
http://afripol.org/ Governor Sanusi Lamido Sanusi of the country’s apex Federal Reserve Institute, the Central Bank of Nigeria and its monetary policy committees retained the benchmark interest rate at 12 percent. The market did not anticipate any change of the monetary interest rate; therefore there was no negative or positive reaction to the outcome. Sanusi’s CBN […]
Nigeria’s Economy: Inflation, GDP Growth and Jobs
http://afripol.org/ Nigeria’s grip on inflation rate is becoming consistent at third quarter with a single digit at 9.3 percent, and with an impressive economic growth rate at 7.72 percent in August. So far a significant development and good track record is brewing, for at the beginning of third quarter inflation rate was 9.4 percent in […]
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