Looking Past the Value of the Naira, By Chuba Ezekwesili
Nigeria is focused on the wrong metric. Every day, we hear more about the price of dollar to naira than we do about the nation’s economic growth rate, which has fallen from an average of 5% two years ago to 3% presently. The value of the naira is hardly the end game – economic productivity is. The nation’s economic growth is key to resolving the issue of exchange rates or any potential inflationary spikes.
The lack of adequate understanding of exchange rates in developing countries explains a major portion of the ambiguity that envelopes the argument on whether to devalue or not. Some believe devaluation is a panacea, while others believe it to be a terrible move that significantly worsens economies. In the context of Nigeria’s current situation, neither of those arguments apply. Devaluation is simply one step in many, towards fixing this nation’s economy.
Deconstructing Nigeria's Fiscal and Currency Crises, By Sa'ad Jijji premiumtimesng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from premiumtimesng.com Daily Mail and Mail on Sunday newspapers.
By Folasade Akpan
Abuja, Feb. 5, 2021 (NAN) The total value of capital importation in 2020 stood at 9.68 billion dollars compared to 23.99 billion dollars recorded in 2019.
The National Bureau of Statistics (NBS) said this in its “Nigerian Capital Importation, Quarter Four (Q4), 2020” report on its website on Friday in Abuja.
The figure reduced by 14.31 billion dollars, represented a decline of -59.65 per cent.
It also said that the total value of capital importation into Nigeria in fourth quarter stood at 1.06 billion dollars, representing a decrease of -26.81 per cent compared to third quarter which had 1.46 billion dollars.
The bureau, however, said that the figure showed a decrease of -71.87 per cent when compared to fourth quarter 2019 which had 3.802 billion dollars.
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Various business regulatory agencies regulate the activities of
companies in Nigeria. While some of the agencies apply to all
businesses regardless of the sector, the nature of the business,
others are specific to a particular sector. This write-up will give
a brief overview of the regulatory agencies and identify whether
such agency applies to all business or a particular sector.
The agencies and their functions concerning businesses in
Nigeria will be briefly discussed below.
The Corporate Affairs Commission (CAC)
This is usually the first and foremost agency every proposed
3 min read
Even as the coronavirus pandemic raged, Nigeria recorded its highest Foreign Direct Investment (FDI) in eight quarters in the third quarter of 2020, as the nation attracted investment worth $414.79 million.
The new figures are contained in the data released by the
According to the Trade Data Quarterly brochure for the third quarter of 2020, the jump in Q3 represents a 179 per cent increase from the $148 million the country attracted in Q2 2020.
PREMIUM TIMES analysis of the figures shows that this is the highest figure since the third quarter of 2018 and it is more than the sum of both Q1 and Q2 of 2020.