Global Economy –Rundown: The global economy for the week ended witnessed some weighty momentous that spread around the global equities frontiers, crude market and economic data release from both china and United State. A positive moment was recorded on the global equity barometer being measured by the Morgan Stanley composite index that inched higher by…
ECONOMY-RUNDOWN FIRS Generated N4Trillion Year to Date For 2019 Fiscal Year: The Federal Inland Revenue Service reported that from January to September 2019, it agency has collected the sum for N4.01trillion, from eligible willing taxpayer, compared to N3.94billion collected within the same period for the previous year, which indicated a marginal growth of 1.78%. The…
ECONOMY Inflation for September rose to 11.24% Consumer Price Index for the month of September 2019 increased to 11.24%, while previous month inflation rate stood at 11.02%, the monthly change stood at 2%. The food sub-index of the consumer index increased to 13.51% compared to 13.17% posted in the previous month and the Core Inflation…
States IGR for H1, 2019 Rose By 15.78% The half year Internally Generated Revenue for the 36 states and FCT, sum up to N691.11bn, while 31 states and FCT recorded IGR growth as against 5 states who recorded decline in their IGR. The 2019 H1, IGR compared to 2018 H2 IGR, indicates 15.78% growth, as…
ECONOMY ECONOMY STATES’ REVENUES RISE BY 46.11% TO N1.6TN Revenue generated from the state within the last two years (2016-2018) rose by 46.11% to N1.6tr from N800.02bn, this appreciation was attributed to improved government economic policies that resulted in expansion of the nation’s tax base from 10 million to 20 million national tax base, with…
ECONOMY Nigeria’s Aggregate Trade Merchandise for Q2 increased by 4.4% Nigeria’s aggregate trade merchandise for the second quarter of 2019 stood at N8.603 Billion, which represent just a 4.4% quarter on quarter growth, while this represent a 24.2% growth on a yearly basis. The aggregate traded value for the period has 46.6% attributed to imports…
ECONOMY MPC Maintains MPR at 13.5% In the just concluded MPC meeting, the following were the resolution reached by the Monetary Policy Committee Members; Monetary Policy Rate was retained at 13.5%, Cash Reverse Ratio was retained at 22.5%, Liquidity Ratio was retained at 30.0% and asymmetric window was retained within the corridor of+200 and -500…
The consumer Price Index for the month of June 2019, decline to 11.22% from 11.40% recorded for the month of May, 2019, this represent a 1.58% decline, also the Food Index for the month also decline by 1.67% from 13.79% recorded in the previous month of May, 2019 to 13.56% for the current month, this was possible given the slower pace of increase in prices of consumer goods for the current period.