Rising prices in Africa’s biggest economy are making many products unaffordable as manufacturers’ inventory of unsold goods rose by 22 percent in one year, according to the Manufacturers Association of Nigeria (MAN). In the association’s latest half-yearly review report, inventory of unsold finished products in the manufacturing sector increased to N469.7 billion in 2022 from …
Many Nigerians have expressed worry over the significant increase in the pump price of petrol across the country, even as long queues persisted at filling stations on Wednesday. The Nigerian National Petroleum Company Limited adjusted pump price at its stations, with the new price ranging from N488 per litre to N557, up from N184-N194 per …
The average age of chief executives is falling — but that isn’t necessarily a bad thing Anyone who has spent the past 20 years climbing the corporate ladder in the hope of scoring the top job, be warned: you may already have missed the boat. A few weeks ago, a 28-year-old was appointed to run …
Nigerian manufacturers are struggling with rising levels of unsold products with inventory stockpiles rising 22 percent as accelerating inflation erodes household incomes, according to the Manufacturers Association of Nigeria (MAN). In the association’s latest half-yearly review report, inventory of unsold finished products in the manufacturing sector increased to N469.7 billion in 2022 from N384.6 billion …
Nigeria’s new President Bola Tinubu is quickly warming himself to investors after wasting no time in announcing an end to the country’s costly fuel subsidy program and unveiling plans to adopt a single exchange rate. Investors are already reacting to Tinubu’s pro-market policies with the country’s dollar bonds rallying. According to Bloomberg data, debt due …
Lolade Akinmurele May 30, 2023 Nigeria’s new President Bola Tinubu is quickly warming himself to investors after wasting no time in announcing an end to the country’s costly fuel subsidy program and unveiling plans to adopt a single exchange rate. Investors are already reacting to Tinubu’s pro-market policies with the country’s dollar bonds rallying. Read …
Treasury bills yield is expected to trend upwards this week at the secondary market, following a hike in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN). Treasury yield is the effective annual interest rate that the government pays on one of its debt obligations, expressed as a percentage. In other words, …
President Bola Tinubu has highlighted the need for a unified exchange rate and a reduction in interest rates to drive up investment in the country. Tinubu, in his inaugural speech on Monday, said the Central Bank of Nigeria (CBN) must work towards a unified exchange rate. “This will direct funds away from arbitrage into meaningful …
Bola Tinubu will on Monday be inaugurated as Nigeria’s new president, inheriting a bulging in-tray that includes fixing a stagnant economy and tackling the insecurity that blights Africa’s most populous country. Tinubu takes the reins from Muhammadu Buhari, whose eight years in office are generally viewed as having left Nigeria less secure and poorer than …
The hardest things should come first for Nigeria’s President-elect Bola Tinubu who has a long list of reforms to push through if he must fix an economy in turmoil. Tinubu, who will be officially inaugurated today as Nigeria’s president, takes over a divided country with significant macroeconomic challenges that cut across the real, monetary, fiscal …