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Naira gains, exchanges at 436.33 per dollar

The naira appreciated slightly against the dollar at the Investors and Exporters window on Friday as it exchanged at N436.33k. The rate represented a 0.04 per cent appreciation compared to the N436.50k for which the dollar was exchanged on Thursday. The open indicative rate closed at N434.83k o the dollar on Thursday. An exchange rate […]

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Rate hikes may trigger recession, W’Bank warns FG

The World Bank Group has warned Nigeria as well as other developing economies that simultaneous rate hikes in response to increasing inflationary pressure may trigger a global recession and a string of financial crises. In its new study titled “Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes,” the Washington-based bank said the […]

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Nigeria needs help to tackle debt burden – AfDB

The president of the African Development Bank, Akinwumi Adesina, has said Nigeria needs help in tackling its debt burden. He said this at the Nigeria International Economic Partnership Forum in New York on Thursday. According to Adesina, financing was critical to solving Nigeria’s development challenges. He said, “Financing is critical because the debt to GDP […]

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Inflation: FG Plans Increment Of Minimum Wage

The Federal Government has revealed plans to increase the minimum wage of workers from the current N30,000. The Minister of Labour and Employment, Chris Ngige, stated this in Abuja on Monday while addressing members of the Nigeria Labour Congress (NLC) at a public presentation of a publication titled, “Contemporary History of Working Class Struggles.” Ngige […]

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