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Opening Business The government must ensure that the right investment policies are created and clear all obstacles towards ensuring that both local and international investors don’t just express passing interest in the economy but back investment announcements with action. James Emejo writes Executive Secretary, Nigerian Investment Promotion Commission, Ms Yewande Sadiku, recently at the quarterly media interactive session, stated that investors had shown their willingness to invest a total of $8.41 billion in various sectors of the economy during the first quarter of year. The revelatio...

But for the timely intervention of the Central Bank for Nigeria in the avoidable board squabbles at First Bank of Nigeria, the relative confidence and stability observed in the banking system in recent times would have been seriously shaken. James Emejo writes It all began with the news that the erstwhile Board of Directors of First Bank of Nigeria Limited, which was chaired by Mrs. Ibukun Awosika, had approved the appointment of Mr. Gbenga Shobo to succeed Mr. Adesola Adeduntan as the new Managing Director/Chief Executive of the bank. Adeduntan was ousted after leading the bank since January...

Godwin Obaseki In this piece, James Emejo, chronicles the recent controversy surrounding the alleged printing of currency by the federal government to support the economy Edo State Governor, Mr. Godwin Obaseki, last week, stirred a costly controversy when he claimed that the federal government has had to resort to printing of currency to augment shortfall in revenue. The governor had, during the Edo State transition committee stakeholders engagement last Thursday, tried to warn about the consequences of country’s continued reliance on crude oil as major revenue sources as some of multinatio...

ECONOMY Apart from the huge economic distortions arising from the COVID-19 pandemic, the federal government must address inherent impediments to foreign trade as well as boost agricultural exports, writes James Emejo The COVID-19 continues to exactly its toll on the Nigerian economic landscape with several impairments. Nigeria’s relapse into a second recession last year – and its sudden exit from the downturn is still being debated – with the pandemic blamed for the travails. Only last week, figures from the National Bureau of Statistics (NBS) further showed that on annual basis, Nig...

James Emejo aggregates analysts’ perspectives on Nigeria’s recent exit from recession and concludes that more efforts are required by the fiscal and monetary authorities to strengthen recovery in subsequent quarters Perhaps, it was no music to the ears to many when the country’s economic managers projected last year that the country’s second consecutive economic recession which happened in the third quarter, would be short-lived. This is understandably so because the slow progress in getting out vaccines that could put an end to the COVID-19 pandemic, which had ravaged the...