Manufacturing sector bleeds as forex loss rises 400% to N466bn
The manufacturing sector suffered a 400 percent increase in net foreign exchange loss to N466 billion in nine months ending September, reflecting the severe impact of the foreign exchange (Forex) market regime. Sector operators said the current forex situation has compounded the pressures emanating from the removal of oil subsidy, Russia/ Ukraine war among other adverse developments. The […]
Nigeria not generating enough revenue to support devt – IMF
Nigeria is not earning enough revenue to support its developmental needs, the International Monetary Fund has disclosed. According to the IMF, the country’s nine per cent revenue to Gross Domestic Product ratio is very low and not enough to support the country’s social safety nets, development spending, and protect its vulnerable households. The Director of […]