Tags : Economic Growth

2023: Nigeria’s Economic Growth Will Slow To 3%

THE International Monetary Fund has projected that Nigeria’s economic growth will slow  to 3.0 percent  in 2023. It added that the  inflation rate will drop to 17 per cent. IMF also forecasted for global economy growth in 2022 at 3.2 percent, and however lowered its forecast for 2023 to 2.7 per cent, representing  0.2 percentage […]Read More

How Morocco Plans To Regulate The Legal Use Of Cannabis

The government of Morocco has set up a monitoring agency that would ensure the legal use of cannabis just before the North African country completes the legalization of cannabis resin. Morocco is the world’s largest producer of cannabis resin and could potentially make billions in revenue with the export or legalized local trade of the […]Read More

What Is Namibia Doing With Its Newly Discovered Oil Reservoir?

Months after discovering large amounts of light oil and associated gas off the coast of Namibia, the southern African country has joined Africa’s league of oil-producing nations to launch a sovereign wealth fund. At the launch of the state-owned investment fund, President Hage Geingob said an initial deposit of 262 million Namibian dollars ($16.3m) would […]Read More

How Comoros Is Rebuilding Its Tourism Sector Post-Covid-19

Comoros is an archipelago of four islands located at the northern end of the Mozambique Channel between Madagascar and the eastern coast of Africa. The economy of Comoros was hit hard by the adverse effects of the COVID–19 in 2020 after being hit hard in 2019 by Cyclone Kenneth. Covid-19 restrictions and curfews enforced in the […]Read More

Nigerians’ Household Consumption Spending Rises To N108tn

The National Bureau of Statistics has said that Nigerian residents spent N108.47 trillion on household consumption in 2021 in nominal terms. The figure is 11 percent  higher than the N97.72tn recorded in 2020. This is an  increase amid double-digit inflation of 15.92 recorded in march 2022. The NBS, which disclosed this in its recent Expenditure […]Read More

Nigeria’s Economic Growth Slowed In February

According to the Central Bank of Nigeria’s report, the economy recorded slow growth in February. The CBN’s Monetary Policy Committee report showed that in February, the Manufacturing Purchasing Managers’ Index recorded slow growth, with the Non-Manufacturing PMI also contracting. It stated that, “The Committee, however, noted that although the Manufacturing Purchasing Managers’ Index, remained above […]Read More

Angola To Invest $445 Million In Logistics Hubs

The Angolan government plans to invest over US$445.5 million (392.3 million euros) to build 21 logistics centres, by 2038, to minimise the challenges of goods transportation.  Minister for Transport, Ricardo de Abreu, made this known at the launch of the international public tender for the concession, construction, operation and commercial management of the Soyo and […]Read More

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ANALYSIS: COVID-19 Impact Hit Hard On Food Prices

As Nigeria gradually heals up from the impact of the COVID-19 pandemic on its economy, Nigerians are still finding it difficult to adjust to the skyrocketing prices of food stuff despite key indicators showing a slight relief on the country’s economy. Twentyten gathered that averagely, the prices of every ‘regularly… You must be registered to […]Read More

Expert: Nigeria’s Economy Can Grow Up By To 10% Annually

The former Director, Budgeting Department, Central Bank of Nigeria,Dr Titus Okunrounmu, says Nigeria’s economy can grow by between seven percent and 10 percent annually if the necessary measures are put in place. Okunrounmu made the projection reacting to the International Monetary Fund projection that Nigeria’s economy would grow by 2.5 per cent in 2021. The […]Read More

IMF Projects 2.5% Growth For Nigeria Economy

The International Monetary Fund has raised Nigeria’s growth forecast for 2021 to 2.5 percent from 1.5 per cent earlier announced in January. The report also projected a 16 per cent consumer price for the country in 2021. IMF disclosed this in its World Economic Outlook for April with the theme ‘Managing divergent recoveries’, projecting an […]Read More