TEN POINT AGENDA FOR THE CBN GOVERNOR – 24TH SEPTEMBER 2023

The Centre for the Promotion of Private Enterprise [CPPE] lauds the nomination of Dr Olayemi Cardoso as the Central Bank Governor.  He has the academic, cerebral and industry credentials to head the apex bank.  He also has the pedigree, disposition and character that the position demands. The CPPE presents the following as an agenda setting…

COMMENTS ON THE SECOND QUARTER GDP – AUGUST 27TH 2023

COMMENTS ON THE SECOND QUARTER GDP The Gross Domestic Product [GDP] growth [in real terms] improved marginally by 20 bases points from 2.31% in the first quarter of 2023 to 2.51% in the second quarter. However, it slowed when compared to second quarter of 2022 which was 3.54%.  The economy slowed amid shocks from current…

ECONOMIC IMPLICATIONS OF MILITARY OPTION IN RESTORING DEMOCRACY IN NIGER – AUGUST 8TH 2023

ECOWAS decision to pressure the military junta  in Niger to restore constitutional democracy in that country is a welcome development.  Our President, His Excellency Bola Ahmed Tinubu, GCFR being the current chairman of ECOWAS is saddled with enormous leadership responsibility at this crucial time in the region’s history. However, any contemplation of military intervention should…

CPPE COMMENTS ON JULY INFLATION – AUGUST 30TH 2023

The surging inflation has had a devastating effect on citizens welfare and the health of small businesses. Headline inflation accelerated to 24.08% in  July as against 22.79 in June. Food inflation maintained its upward trajectory, accelerating to 27%.  Evidently, we are yet to see an abatement to the key factors fueling inflation. The inflationary pressures…

THE NAIRA EXCHANGE RATE CONUNDRUM – 23RD JULY 2023

The volatility in the foreign exchange market is naturally unsettling.  But it is not unexpected given the long period of distortions in the foreign exchange market.  Correcting the entrenched distortions would take some time. But in the meantime, the monetary authorities should come up with a sustainable intervention framework to ensure the moderation of current…

2023 H1 – HALF YEAR ECONOMIC REVIEW – JULY 2ND 2023

The Nigerian economy was impacted by diverse global and domestic variables in the first half of the year. Major global factors were the Russian Ukraine war which continues to exacerbate energy costs and fueling inflation globally; the persistent monetary tightening in the advanced economies aimed at curbing a rather protracted inflationary pressure; and the worsening…