The private sector is one of the main drivers of the Euro-Area’s Economy. A composite Purchasing Managers’ Index rose to 51.3, the highest level since August 2019. These leads to expectations of the euro zone avoiding recession in 2020 while struggling to muster growth of 1%. Bloomberg
Nigeria FG plans to train about 50,000 agricultural extension agents to monitor, take stock, and document all assets of the Federal Ministry of Agriculture and Rural Development nationwide. Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Dr. Abdulkadir Mu`azu, has directed all departments and units in the ministry to align their activities to agriculture-specific…
US & Nigeria have entered into an Asset Recovery Agreement to repatriate over $308 million of forfeited assets to Nigeria. Nigeria’s Attorney General and Minister of Justice, Mr. Abubakar Malami, who signed on behalf of the Nigerian government, noted that the agreement had, “culminated in a major victory, for Nigeria. Thisday
Debt is one of the Main drivers of Nigerian Economy. The 8th National assembly has approved about $6BN out of $29.96BN loan with $22.8BN outstanding. This is to be funded with about $17BN loan from China-Exim Bank which will be channelled to the funding of Infrastructure, which will enhance the productivity of Nigerian economy. Punch
Producer prices are one of the main drivers of Europe’s Economy. Eurozone headline inflation increased to 1.4% in January 2020, while the slowdown in industry deflation declined by 4.0% in December caused by a less prominent fall in Energy prices. Reuters
Interest rates are one of the main drivers of Chinese Economy. China’s Central bank injected 150 billion Yuan ($21.4 billion) using 7-day and 14-day reverse repurchase agreements while decreasing both 7-day & 14-day reverse repurchase agreements interest rates by 10 basis points. These should reduce the negative effect of spreading the Coronavirus. Bloomberg
Impact investment is one of the main drivers of Nigerian Economy. Nigeria recorded $4.7 billion inflow of impact investment from 2015 to date while the size of Ghana’s impact investment market is $1.2billion since 2015. This has led to positive impact on the Nigerian people and the environment while delivering goods that will contribute in…
Debt is one of the main drivers of Nigeria Economy. The total debt owed to the World Bank Group by Nigeria rose by $1.3bn in one year to $9.81bn while the total public debt rose to N26.22Tn as of September 2019. The debt office said new domestic borrowings this year (N1.59tn) would be raised through…
Central Bank of Nigeria (CBN) policies is one of the main drivers of Nigerian financial system. CBN policy makers increased the Cash Reserve Ratio (CRR) to 27.5% while maintaining the Monetary Policy Rate (MPR) at 13.5%. These should reduce the amount of money available for banks to lend, essentially pressuring liquidity with a goal of…
US Benchmark interest rate is one of the main drivers of US economy. US Federal Reserve maintained its benchmark overnight lending rate in the range of between 1.50% and 1.75% while raising interest rate paid to banks for excess reserves to 1.60%. These should lead to continued growth of the US economy. Reuters
