2022 FIRST QUARTER ECONOMIC REVIEW – CPPE

Distinguished Ladies and Gentlemen of the Press The review focusses on key developments in the Nigerian economy in the last quarter and highlight the implications of these developments for investments and the economy. The review covers the major macroeconomic variables such as the Gross Domestic Products (GDP), the Naira exchange rate, the inflation rate, the…

Subsidy may hit N4trn by year end – CPPE

Amidst current subsidy trajectory and  the economic implications of the Russian invasion of Ukraine, the Centre for Promotion of Private Enterprises (CPPE)  has projected that Nigeria’s subsidy cost may hit N4 trillion by the end of the year,  depending on how long the sanctions and invasion last. The Centre noted that this has serious implications for…

CPPE CALLS FOR SUSPENSION OF PLANNED IMPOSITION OF EXCISE DUTIES ON MANUFACTURERS

Earlier this year, the Finance Minister, Mrs Zainab Ahmed, hinted that excise duty will be imposed on a range of manufactured goods in the country anytime soon. But these are very difficult times for manufacturers as they contend with escalating cost of production arising from elevated energy costs, rising operating expenses, sharp currency depreciation, forex…

THE ECONOMIC IMPLICATIONS OF THE RUSSIAN INVASION OF UKRAINE.

Implications for The Domestic Economy: The Russian invasion of Ukraine has profound and multidimensional implications for the Nigerian economy, especially if it gets protracted. These include the escalation of energy prices [diesel, aviation fuel, kerosene and gas], mounting petrol import and subsidy bill and the aggravation of petrol smuggling.  There are also significant macroeconomic outcomes…