MONEY MATTERS: Economy And Investment

As investment is highly important for an individual or household, investments are also important for the broader economy.

There is interdependence between the household sector and other sectors of the economy, such as the corporate sector. For example, in the act of saving, households are not buying the goods and services that firms sell. However, by saving, households are placing money in financial institutions and this provides a potential source of funds for firms to expand and to invest themselves.

Governments also have an interest in household savings. One reason for this is that governments often spend more than the

Read More

Buhari’s commitment to a climate-resilient economy excites Green Smart City Promoter

President Muhammadu Buhari

By Chris Ochayi

ABUJA: The promoter of Ketti Green Smart City has commended President Muhammadu Buhari for his strong commitment to implementing policies that would build a climate-resilient Nigerian economy that aligns with the Sustainable Development Goals, SDGs.

 The  Chief Executive officer of Hongye International Ltd, Mr. Moses Ayom, said the moves would  unlock the full growth opportunities in different sectors of the economy, while protecting the resources for present and future generations. 

The Hongye International Ltd  is the owner of Ketti District in Abuja under the revived FCDA land swap program,.

Mr. Ayom made the commendation

Read More

Is the resource curse hard-baked into African economies? China’s approach hints that it may not be

Countries with abundant natural resources – gold, diamonds, crude oil– often fail to transform that advantage into favourable development outcomes. This is known as the natural resource curse. Countries like Nigeria, Angola and the Democratic Republic of Congo are often cited as examples.

Several explanations have been offered for the resource course. These include the lack of government accountability usually associated with large windfalls from natural resources relative to other sources of tax revenues. Others are an increase in the local currency against major currencies such as the US dollar, which makes it difficult for other sectors of

Read More

Africa-Turkey economic forum to promote trade, investment: Envoy

The upcoming Africa-Turkey Economic and Business Forum in Istanbul will boost trade and investment between Ethiopia and Turkey, Ankara’s Ambassador to Ethiopia and the African Union (AU) Yaprak Alp said on Tuesday.

Alp made the remarks during the signing of a framework agreement between Turkey and the AU to organize and manage the third Turkey-Africa Economic and Business Forum on Oct. 21-22.

The agreement was signed by Alp and the AU’s Commissioner for Economic Development Trade, Industry and Mining Albert Muchanga.

The forum has been organized since 2016 and this year’s meeting will be held under the theme “Deepening Turkey-Africa

Read More

How CBN saved Nigeria’s economy from Post-COVID- 19 crisis

By Emma Ujah

The far-reaching interventions of the Central Bank of Nigeria (CBN) in various sectors saved the Nation’s economy from a deep post-COVID-19 crisis.

The Governor of the bank, Mr. Godwin Emefiele, disclosed this in his Keynote Address, at the 31st Seminar for Finance Correspondents & Business Editors, which opened, yesterday, in Enugu, Enugu State capital

In response to the COVID-19 crisis, the CBN, Mr. Emefiele said, introduced and implemented a suite of measures aimed at reducing the risk to financial stability, boosting demand and economic growth, ameliorating the impact of the pandemic on some sectors and obligors, such

Read More

Middle-class critical to Nigeria’s economy, says GDL Group

GDL Group has said that a growing middle class was critical to the growth and development of the Nigerian economy.

The diversified financial group with three subsidiaries –  GDL Finance and Leasing, GDL Asset Management and GDL Stockbroking – has been committed to growing the country’s middle class and strengthening the financial status of Nigerians through the provision of safe and secure investment opportunities.

GDL Group Chief Executive officer, Mr Kola Ayeye, said in a statement that the company’s value statement was its focus on delivering key social dividends to Nigerians.

Ayeye said, “At GDL, we see the socioeconomic challenges

Read More

World wary of Taliban government as Afghans urge action on rights and economy

  • New Taliban government gets to work on Wednesday
  • Afghans urge leaders to address economic crisis, rights
  • Women protest again in Kabul after big rally on Tuesday

Sept 8 (Reuters) – Foreign countries greeted the makeup of the new government in Afghanistan with caution and dismay on Wednesday after the Taliban appointed hardline veteran figures to an all-male cabinet, including several with a U.S. bounty on their heads.

As the newly appointed ministers and their deputies set to work after they were named late on Tuesday, acting Premier Mohammad Hasan Akhund urged former officials who fled Afghanistan to return, saying their

Read More

Europe’s central bank easing COVID-level economic support

The European Central Bank will dial back some of its massive emergency pandemic support for the economy amid signs of increasing business activity and consumer readiness to spend as the 19 countries that use the euro rebound from the coronavirus recession.

Bank head Christine Lagarde was careful to say the shift was only a “recalibration” of existing stimulus — not a signal that pandemic support is being phased out.

The bank’s 25-member governing council decided Thursday that it would conduct its bond purchase stimulus at “a moderately lower pace” than in recent months. Since March the statement has said that

Read More