Economy news in nigeria today

Here are some economy news in Nigeria today:

Headlines:

  1. Nigeria's Inflation Rate Rises to 12.4% in January: The National Bureau of Statistics (NBS) has announced that Nigeria's inflation rate rose to 12.4% in January, up from 11.98% in December 2022. (Source: Vanguard)
  2. FG to Review 2023 Budget Amid Economic Challenges: The Federal Government has announced plans to review the 2023 budget due to the current economic challenges facing the country. (Source: ThisDay)
  3. Nigeria's GDP Growth Rate Slows to 2.37% in Q4 2022: The NBS has reported that Nigeria's Gross Domestic Product (GDP) growth rate slowed to 2.37% in the fourth quarter of 2022, down from 3.98% in the same period in 2021. (Source: Punch)
  4. CBN to Introduce New Naira Notes in June: The Central Bank of Nigeria (CBN) has announced plans to introduce new naira notes in June, as part of efforts to reduce the country's reliance on foreign currencies. (Source: Daily Trust)
  5. Nigeria's External Reserves Fall to $38.5 Billion: The CBN has reported that Nigeria's external reserves fell to $38.5 billion in February, down from $40.4 billion in January. (Source: The Nation)

Other News:

  1. Nigeria's Power Sector Loses N1.3 Trillion in 2022: The Nigerian Electricity Regulatory Commission (NERC) has reported that the power sector lost N1.3 trillion in 2022 due to inadequate power supply and other challenges. (Source: Leadership)
  2. FG to Establish New Agricultural Zones in 2023: The Federal Government has announced plans to establish new agricultural zones in 2023, as part of efforts to boost food production and reduce importation. (Source: The Guardian)
  3. Nigeria's Manufacturing Sector Contracts in January: The Manufacturing Purchasing Managers' Index (PMI) has reported that Nigeria's manufacturing sector contracted in January, due to challenges such as power outages and high production costs. (Source: BusinessDay)
  4. FG to Review Tax Laws to Boost Revenue: The Federal Government has announced plans to review tax laws to boost revenue and reduce tax evasion. (Source: Premium Times)
  5. Nigeria's Oil Production Falls to 1.34 Million Barrels per Day: The Nigerian National Petroleum Corporation (NNPC) has reported that Nigeria's oil production fell to 1.34 million barrels per day in February, down from 1.43 million barrels per day in January. (Source: The Punch)

These are some of the economy news in Nigeria today.