News

Nigerian Recession Is Imminent

Nigeria’s economy will probably slip into a recession after a four-month delay in the nation’s budget stalled economic stimulus programs, central bank Governor Godwin Emefiele said. A “recession, which we signaled in July 2015, now appears imminent,” Emefiele told reporters … read more

Is Nigeria moving to a two-tier FX regime?

Nigeria’s government has used a lower currency rate than its official central bank rate for petrol imports, the junior oil minister said on Monday, signalling what analysts believe could be a move towards a two-tier exchange rate regime. Emmanuel Ibe … read more