The House of Representatives, on Tuesday, passed the 2022 Appropriation Bill, raising the total estimates of the Federal Government’s budget from the proposed N16,391,023,917,692 to N17,126,873,917,692, an increase by N735,850,000,000. The lawmakers raised the oil benchmark from $57 per barrel to $62. They also increased the National Assembly’s budget by N5bn, from the proposed N134bn…
Lagos, May 25, 2021 The Association of Capital Market Academics of Nigeria (ACMAN) says retention of all policy parameters by the Central Bank of Nigeria (CBN) is in line with expectations, due to stagflation.
Stagflation refers to an economy that is experiencing a simultaneous increase in inflation and stagnation of economic output.
Naija247news reports that the Monetary Policy Committee (MPC) of the apex bank, at the end of its two-day meeting on Tuesday, retained all policy parameters.
The committee retained the Monetary Policy Rate (MPR) – benchmark interest rate – at 11.50 per cent, while asymmetric corridor remained at to +100/-700 bps around the MPR