Saturday September 10, 2016 11:10AM /FDC
After 3 decades of positive GDP growth, Nigeria slid into Recession with a cumulative negative growth of 2.4% for H1’ 2016. The Buhari Administration has been shocked into a rude awakening and all hands now seem to be on deck.
The fiscal stimulus package is being reengineered to jump-start a stalled economy that was already tanking.
The good news is that the month-on-month inflation declined to 0.6%, annualized at 7.44%. This is much lower than the MPR and the T/Bill auction rate of 18%p.a.
The data of unemployment of 24% amongst 18 -24 year olds is alarming and is a ticking time bomb. This will force the MPC to lower interest rates and encourage businesses to borrow, increase employment and economic activity.
The managed floating exchange rate needs to be fine-tuned to curb the wide spread abuse by a cartel of Criminogenic bankers and conniving regulators.
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1. Sense of Urgency to Reflate the Economy - FDC
2. Continuing Slide of the Naira Leading to Higher Prices of Inelastic Commodities
3. Receding Weather Shocks Hand baton to Fundamentals
4. Domestic Commodity Prices Remain Fairly Stable
5. Potash Price Surge Could Lead To Higher Food Costs For Billions
6. Domestic Commodity Prices Declining in the Last 24hours - FDC
7. Nigerians are changing eating habits as tomato crisis persists
8. Staple Food Prices on the Upward Trajectory as Consumer Demands Continues to Slow
9. Nigeria records modest growth in food and accommodation sector
10. Food price on the rise – Mile 12, Ikeja and Agege markets raise prices
11. Domestic Prices Remain Sticky Downwards
12. Oil Prices Fall by 2.87% as Oil Producers Fail to Reach an Output Agreement
13. Oil Prices Increase by 20% to $44pb
14. Commodity Update: Prices Remain Stable
15. Commodity: Domestic Prices Sticky Downwards