Posts Tagged ‘Bloomberg’

Nigeria’s GDP Data Raises the Stakes in Fight Against Poverty [See Stats]

Economic growth in Africa’s largest oil producer slowed for the third consecutive quarter, adding further pressure on the government to fight rising poverty. Gross domestic product expanded 1.94% in the three months through June from a year earlier, the Abuja-based National Bureau of Statistics said in a report on its website Tuesday. That compares with […]

FLASH| Goodluck Jonathan in London, Delivers Speech at Bloomberg

Goodluck jonathan recounts his pride in ensuring democratic handover of power in 7 African countries… In His Words: ‘My proudest moment was peaceful handover of power!!! Since leaving office one year and one week ago, I have had the luxury of time to be able to reflect. I said before the last election that my […]

Nigerian Currency Crisis Explained: What We Know And Don’t Know – Bloomberg

Nigeria’s central bank may soon give bond and stock investors what they have been pleading for: a weaker naira. Governor Godwin Emefiele announced after a meeting of the Monetary Policy Committee in Abuja, the capital, on Tuesday that a more flexible foreign-exchange system would be unveiled “in the coming days.” But he gave scant detail […]

Nigeria’s Inflation Rate Skyrockets – Bloomberg

Nigeria’s inflation rate climbed to the highest in more than two years in September as food prices surged, exceeding the central bank’s target for a fourth month. Inflation in Africa’s biggest economy accelerated to 9.4 percent from 9.3 percent in August, the National Bureau of Statistics, based in the capital, Abuja, said in an e-mailed […]

Nigeria’s Economy Grew 2.8% last year, the slowest place since 1999 – Bloomberg

Nigeria’s economic growth data confirmed what central bank Governor Godwin Emefiele has been loath to admit: that currency controls are hurting the economy. Growth in Africa’s biggest economy and oil exporter slowed to 2.8 percent last year, the weakest level since 1999 and down from 6.2 percent recorded in 2014. Industrial output contracted 2.2 percent […]

FLASH| Naira Projected To Reach 400 Dollar By Friday – Bloomberg

Exchange rate projected to reach 400 per dollar by Friday Panic buying weakening currency amid dollar scarcity   Nigeria’s naira extended its fall to a record low on the black market as demand for the U.S. currency increased amid a plunge in crude oil prices and foreign exchange restrictions by the Central Bank of Nigeria. […]