http://afripol.org/ The country’s inflation rate is not subsiding and with March’s surging inflation rate at 12.1 percent, the partial removal of fuel subsidy has begun to clamp down on the economy. The inflation rate of February was at 11.9 percent, and the new number for March (12.1 percent) shows that inflationary trend is gaining momentum […]
Nigeria’s inflation slows and interest rate remains unchanged
http://afripol.org/ Nigeria’s inflation rate at 11.9% and Central Bank of Nigeria (CBN) retains interest rate at 12% Unexpected Nigeria’s inflation rate at 11.9% despite fuel subsidy removal is latest development in the country’s economic landscape.The inflation rate in Africa’s most populous nation and second largest economy slowed down a little bit at 11.9 percent in […]
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 […]
S&P lifts Nigeria’s Credit Rating to positive
http://afripol.org/ Standard and Poor’s (S&P) the compassing powerful credit rating agency brought a smile to the faces of President Jonathan’s economic team by lifting the country’s credit rating from stable to positive. According to AFP news agency, "It also reaffirmed its B+/B long- and short-term issuer credit ratings for Nigeria, the continent’s most populous nation." […]
Sanusi’s CBN and Naira devaluation
CBN and Naira devaluation: Public Good, Double Talk and Contradictory Policy. It is beginning to look that Sanusi Lamido Sanusi, the executive governor of Central Bank of Nigeria (CBN) is stepping into a pathway of perplexing contradictions. At the time that International Monetary Fund (IMF) recommended for Nigeria to devalue naira, Sanusi was insisting that […]
Nigeria: Inflation at 9.4% and the state of the economy
A good and encouraging record trickled from National Bureau of Statistics that inflation rate receded to 9.4% in July, the lowest so far in three years. This is a significant improvement from persistent inflation that was surging upward that compelled the Central bank of Nigeria (CBN) to aggressively tighten monetary policy. As of June the […]