Tag:
rate
Business
Stock Market Slumps as CBN Interest Rate Hike Shakes Investor Confidence
Nigeria’s stock market stumbled last week, reacting negatively to the Central Bank of Nigeria’s (CBN) decision to raise interest rates. The CBN’s Monetary Policy Committee...
Business
Good News: Unemployment Rate Drops to 4.3% in Q2
Nigeria’s unemployment rate has dropped to 4.3% in the second quarter of 2024, according to the latest figures released by the National Bureau of...
News
IMF Reports Naira Showing Signs of Stability Amid Interest Rate Hikes
The International Monetary Fund (IMF) has released a report indicating that Nigeria's currency, the naira, is beginning to show signs of stability. This positive development...
Business
Nigeria Lost N10 Trillion to Fuel Subsidy, Exchange Rate in 2022 – World Bank
The World Bank has revealed that Nigeria lost a staggering N10 trillion in revenue in 2022 due to the fuel subsidy and multiple exchange...
Business
Naira Loses N89 Against Dollar as Exchange Rate Hits N1631.21
The Naira has experienced a significant drop in value against the U.S. dollar, losing N89.27 in just one week of trading. This marked a...
Business
From 26.75% to 27.25%: CBN Raises Interest Rate to Combat Inflation
The Central Bank of Nigeria (CBN) has announced an increase in the monetary policy rate (MPR) from 26.75% to 27.25%. This decision, made by the...
Business
Nigeria’s Economic Growth Rate Has Declined Since 2014, Says Okonjo-Iweala
The Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has raised concerns about Nigeria's economic trajectory, revealing that the nation's Gross Domestic...
Business
Inflation Rate, Food Prices Drop Slightly in July 2024
Nigeria’s inflation rate showed a slight decrease in July 2024, according to the latest Consumer Price Index (CPI) report released by the National Bureau...