Nigerians spend $39.66bn on foreign education, medical tourism – CBN report

NIGERIANS spent a total of $39.66bn on foreign education and healthcare-related services between 2010 and 2020, according to the Central Bank of Nigeria data. According to CBN’s Balance of Payments, Nigerian parents and guardians paid about $28.65bn for their wards to study abroad during the period under review. The BoP report also revealed that Nigerians […]

As Twitter ban enters 100 days, Buhari maintains noose on Nigerians’ freedom online

In June, Mr Buhari announced the indefinite suspension of Twitter after the microblogging site deleted one of his tweets. It’s been 100 days since the regime of President Muhammadu Buhari banned the operations of social media platform, Twitter, in Nigeria, suffocating citizens rights to freedom of expression. In June, Mr Buhari announced the indefinite suspension of […]

CBN’s N250bn Intervention Can Create 12m Jobs – Experts

The N250 billion gas intervention fund set up by the Central Bank of Nigeria (CBN) would help Nigeria to unlock its 206 trillion standard cubic feet of gas reserves and create over 12 million direct and indirect jobs across the country’s gas value chain. Stakeholders who spoke on the matter have identified lack of adequate […]

24 Hours After Forex Ban, Dollar Scarcity Hits BDCs

The decision by the Central Bank of Nigeria (CBN) to stop sales of dollar to Bureau de Change (BDC) operators has started to manifest its multiplier effect as LEADERSHIP findings yesterday showed that the BDCs are now cash trapped, resulting in a marginal increase in the price of dollar at the parallel market. CBN had […]

COVID-19: Nigeria Cannot Afford A Third Wave, Federal Govt Warns

The Presidential Steering Committee (PSC) on COVID-19 has warned that Nigeria cannot afford a third wave of coronavirus and will do everything to protect its territory. Speaking at the national briefing of the PSC, the chairman and secretary to the government of the federation, Boss Mustapha, said: “In the next couple of weeks, the PSC […]

May 29: Blighted By COVID-19, Inflation, Subsidy, Nigeria’s Economy Wobbles

Although the second term of President Muhammadu Buhari started with a glimpse of hope, recent developments have poured cold water on such hope. After the 2019 general election which signaled continuity of the Buhari administration, there were expectations that the fleeing foreign investors as well as the new ones will flood the country’s economic space. […]