The CBN governor announced after the 282nd MPC meeting that the committee has decided to hold all policy parameters. He also noted that the committee took note of the normalisation policy which is beginning to be adopted by some developed and emerging economies. The committee commended the effort of the Bank's management in making growth stimulating interventions in critical sectors of the economy.
Wheat in Nigeria has become weaponized. Nigeria produces one percent (63,000 metric tonnes) of the 5 to 6m MT of the product, a staple for Nigerians breakfast table. The shortfall has put strains on the country's foreign reserves as Nigeria parts with US$2bn annually in the importation of pastry input.
The freshly demutualized Nigerian Exchange Group Plc (NGX) released its Q3 results for 2021 with a slight glimmer of future solid earnings as post-tax profits rose from N1.37bn in Q3 2020 to N1.51bn in Q3 2021, a rise of 10.55%. Analysts note that the surge was not earth stumping, but it gave a sense of the underlying earnings potential of the group.