The Consumer Price Index (CPI) data for Jan-2018 was published earlier this week by the National Bureau of Statistics and in line with expectation, Headline Inflation moderated for the 12th consecutive month to print at a 21-month low of 15.1% Y-o-Y from 15.4% Y-o-Y in Dec-2017. The 24bps decline in Y-o-Y inflation was however majorly driven by high base effect as M-o-M Headline Index price growth accelerated 21bps M-o-M to 0.8% from 0.6% in Dec-17 against the backdrop of increases in Food and Core Indices M-o-M growths.
On the 7th of February 2018, the National Bureau of Statistics (NBS) released PENCOM data for Q4:2017 which shows a breakdown of Pension Assets and Retirement Savings Account (RSA) membership. As at December 2017, total Fund Assets Under Management (AUM) was valued at N7.5tn, up 22.0% Y-o-Y and 4.9% Q-o-Q from N6.2tn and N7.1tn in FY:2016 and Q3:2017 respectively. Similarly, total number of registered RSA holders grew 6.5% Y-o-Y and 1.5% Q-o-Q to 7.8m people from 7.3m and 7.7m individuals as of FY:2016 and Q3:2017 respectively.
As the saying goes: ‘necessity is the mother of innovation’. This justifies the fact that, many countries have experienced several breakthrough in innovation during crisis such as natural disaster, epidemic, war amongst others. These crises triggered the invention of technologies and ideas that leapfrogged some countries to their current developed state. But in Africa, a continent gripped with unemployment, poverty, hunger and more, the case is different. Africa’s poverty rate is yet to spark creative thinking and action to save the continent from poverty. For instance:
The news is full of blockchain, but the technology behind it is little understood. And what are its consequences for Foreign Direct Investment (FDI)? Martin G Kaspar explains.
Blockchain emerged in public discourse with the introduction of bitcoin, which is why the two terms are often used synonymously. However, there are clear distinctions between the two: blockchain is the underlying technology for bitcoin, which is one of many co-called cryptocurrencies.
The National Bureau of Statistics (NBS) published Consumer Price Index (CPI) data for Dec-2017 recently with the report surprisingly showing an 11th consecutive monthly decline in Y-o-Y Headline Inflation which moderated 53bps from 15.9% in November 2017 to a 20-month low of 15.37% Y-o-Y in December.
Full text of President Muhammadu Buhari’s New Year Address to Nigerians.
I join my fellow citizens this morning to welcome and celebrate the New Year 2018. This year promises to be pivotal in our quest for CHANGE.
Unfortunately, I am saddened to acknowledge that for many this Christmas and New Year holidays have been anything but merry and happy. Instead of showing love, companionship and charity, some of our compatriots chose this period to inflict severe hardship on us all by creating unnecessary fuel scarcity across the country.
Economic recession has hit Economic Community of West Africa (ECOWAS), gradually causing a dip in its real growth rate.
The growth has dipped to all time low of 0.2 per cent in 2016.
The rate started the nose dive in 2014 due to economic challenges facing the bloc.
The growth decreased from 6.1 per cent in 2014 to 3.3 per cent in 2015.
The situation was compelling that member state ensure that resources were put to good economic use to boost peoples’ quality of lives, President Muhammadu Buhari said on Saturday night.
The CBN recently released the Purchasing Managers’ Index (PMI) Survey Report for November and in line with the positive trend which began in April 2017, the survey showed sustained improvements in the manufacturing and non-manufacturing sectors. The continuous expansion in PMI readings is broadly attributable to improved liquidity and stability in the FX market – anchored by higher oil receipt and increased policy flexibility - which have buoyed business and investment sentiment.