To stem the skyrocketing cost of essential medicines in the interim, pharmaceutical industry players yesterday demanded special priority to access FOREX at rates that will moderate the final cost of medicines and other strategic healthcare commodities of critical need in the country. They also urged the Federal government to create a N600 billion Pharmaceutical Manufacturing… Read more

According to Bloomberg, this marks the first time the refinery will be buying non-Nigerian crude, adding that the exponential growth in US oil supply over the past decade has reshaped the global market, extending its influence to regions like Asia. Nigeria, whose economy heavily relies on petroleum exports, is particularly impacted by these transatlantic deliveries.… Read more

IMF downgrades forecast for Nigeria’s 2024 economic growth to 3%  – Vanguard News (vanguardngr.com) Read more

Nigeria orders banks to cut forex exposures as Naira plunges (ghanaweb.com) Read more

In apparent reflection of the dollar scarcity plaguing the economy, the Naira yesterday recorded its biggest fall in the official Nigerian Foreign Exchange Market (NAFEM) where it depreciated by 24 per cent to 20 N1,348 per dollar.  Read more

IMF predicted a decline in Nigeria’s inflation rate to 23 percent in 2024 and 15.5 percent in 2025. By Yinka Kolawole, with agency report The International Monetary Fund (IMF) has predicted a decline in Nigeria’s inflation rate to 23 percent in 2024 and 15.5 percent in 2025. Read more

https://mobile.ghanaweb.com/GhanaHomePage/business/List-of-Nigerians-who-own-private-jets-1913999 https://mobile.ghanaweb.com/GhanaHomePage/business/List-of-Nigerians-who-own-private-jets-1913999 Read more

By Akpan H. Ekpo The Nigeria Economy is at its lowest since Independence. All macroeconomic fundamentals have been moving in the wrong direction even the performance of various sectors is nothing to write home about.   The eight years of President Mohammadu Buhari with the APC mantra of change was a disaster in terms of economic performance.… Read more

JOSEPHINE OGUNDEJI speaks with the Head of Marketing and Corporate Communications at Knight Frank, Nigeria, Lanre Sonubi, on the financing constraints affecting the real estate sector, among others What strategies can be employed to address infrastructure gaps in key real estate markets? Various strategies will work for different jurisdictions. For our case here in Nigeria, aside… Read more

Manufacturers have predicted fresh hikes in the prices of commodities in the market to rise in response to the continued fall of the naira against the United States dollar. On Friday, the naira plunged to N1,420/$ at the parallel window of the foreign exchange market. The President of the Manufacturers Association of Nigeria, Francis Meshioye,… Read more