May 6, 2021
  • May 6, 2021

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Lagos rollout $20 mln economic stimulus scheme to support households

by on April 21, 2021 0
Lagos State Government has rolled out a $20 million Coronavirus Action Recovery and Economic Stimulus (Lagos CARES) Programme to support livelihood for poor and vulnerable households and to expand food security services in the State. At the State House, Alausa, on Wednesday, Governor Babajide Sanwo-Olu launched the social intervention project that is focused on... Read More

New wave of covid-19, limited access to Vaccines may derail Sub-Saharan African recovery~IMF

by on April 15, 2021 0
New waves of Covid-19 infections could derail the economic recovery in sub-Saharan Africa, which is already forecast to lag the rest of the world this year amid limited access to vaccines, the International Monetary Fund (IMF) warned. In its regional economic outlook released on Thursday, the IMF said growth projections are subject to “greater-than-usual... Read More

Nigeria welcomes Microsoft Corp. support for economic sustainability plan

by on January 8, 2021 0
Nigeria has welcomed the move by Microsoft Corporation to support its economic sustainability plan. Microsoft had offered support for the Digital Transformation pillar of the federal government’s Economic Sustainability Plan as a continuation of the technology company’s investment in Nigeria. The technology company had established an African Technology Development Centre in 2020, in the... Read More

Nigeria’s declining economic conditions hit consumer confidence in Q3

by on October 31, 2020 0
The Central Bank of Nigeria (CBN) said consumers’ confidence in the economy dropped in the third quarter of the year. In its latest ‘Consumer expectations survey’ report for September, the regulatory bank said “The consumers’ overall confidence outlook dipped in Q3 2020, as consumers were pessimistic in their outlook. Consumers’ overall outlook was negative... Read More

Africa’s recovery needs billions and reforms, says IMF Chief

by on September 15, 2020 0
The International Monetary Fund (IMF) on Tuesday said Sub-Saharan Africa will need hundreds of billions of dollars and reforms that bring change for a resilient recovery from the damage wrought by the coronavirus pandemic. Support from the international community that includes stepped-up debt relief, financing and capacity development will be needed, Managing Director Kristalina... Read More

Osinbajo seeks urgent implementations of N2.3 trln stimulus package

by on September 9, 2020 0
Nigeria’s Vice President, Yemi Osinbajo said the government should start the implementation of the N2.3 trillion stimulus package to mitigate the effect of the coronavirus pandemic crisis on the economy. Osinbajo said the economic distortions and hardship caused by the COVID-19 pandemic require the relevant ministers and stakeholders to expedite action on the plan... Read More

What PMIs tell us about economic recoveries in Africa

by on September 4, 2020 0
In the first half of 2020, the economic performance of all the African countries under coverage deteriorated from that of an expansion to a broad-based contraction/slowdown. This was as the global outbreak of the COVID-19 pandemic as well as the associated lockdown measures implemented to curb its spread exacerbated other pre-existing vulnerabilities and dragged... Read More