Policy

Breaking: CBN MPC retains interest rate at 14%
Policy

Breaking: CBN MPC retains interest rate at 14%

The Central Bank of Nigeria Monetary Policy Committee has retained the country’s headline interest rate at 14%. The committee reached its decision based on associated risks to banking liquidity and whereas the drop in inflation, the rate is still high. The committee said the continuous tightening of interest rate will […]

Nigeria’s GDP contracts by 0.52% in Q1
Policy

Nigeria’s GDP contracts by 0.52% in Q1

Latest data from the National Bureau of Statistics, Nigeria’s gross domestic product contracted on a year on year basis by 0.52%. According to the NBS, the latest data represents a fifth consecutive quarter of contraction since Q1 2016. This is 0.15% higher than the rate recorded in the corresponding quarter […]

Nigeria’s inflation falls to 17.24% in April
Policy

Nigeria’s inflation falls to 17.24% in April

Nigeria’s inflation saw a continuous decline to 17.24% for the month of April. The latest data is an improvement from 17.26% posted by the data bureau in March. Data according to the Nigeria Bureau of Statistics showed that the continuous decline was attributed to slowing prices of few commodities. However, […]