Nigeria’s trade account turned positive in 2017 as a rise in oil exports outweighed imports after dollar shortages frustrated transactions, the National Bureau of Statistics said. The balance of trade last year was N4.03tn ($13.2bn). The net trade balance stood at minus N290bn for 2016. The rise boosts the Federal Government’s ambition to promote exports […]

The Central Bank of Nigeria’s Monetary Policy Committee’s long-awaited interest rate-cutting cycle risks being short-lived, if it starts at all. The CBN Governor, Godwin Emefiele, had said last month that the MPC might reduce its benchmark interest rate from the record-high of 14 per cent before July if inflation dropped closer to single digits. But […]