He said Africa possesses many of the resources needed for the global transition to green energy, as well as a large and youthful population that could benefit from the industrial opportunities created by the sector.
Explaining the figures, BudgIT stated: “Between 2022 and 2024, under the Tinubu administration and following the move to a floating exchange rate, nominal GDP fell from $645.68bn to $252.11bn in just two years.”
The Minister of State for Defence in Nigeria, Bello Matawalle, has attributed the persistent banditry in the country’s northwest to what he calls “conflict entrepreneurs.” He claims that this group of individuals benefits economically from criminal activities, creating a cycle that sustains insecurity. In an interview with the News Agency of Nigeria (NAN), Mr. Matawalle…
The Nigerian government has implemented a significant adjustment in the exchange rate calculations of import duties by the Nigerian Customs Service (NCS). This move comes five months after the Central Bank of Nigeria (CBN) floated the naira, allowing banks to sell foreign exchange freely at market-determined rates. The exchange rate has been revised from N770.88/$…
Banks have their fingers on the pulse of global finance, and the latest report from Bank of America suggests that fund managers are feeling a bit more optimistic about the global economy. In the October 2023 Global Fund Manager Survey, it was revealed that 50% of those surveyed are expecting a weaker global economy in…