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Tag: nigeria economy

India, Nigeria to increase cooperation in energy, UPI, local currency settlement to enhance economic ties

Posted on May 3, 2024 By admin
India, Nigeria to increase cooperation in energy, UPI, local currency settlement to enhance economic ties

Image of diplomats shaking hands for representation only | Photo Credit: SANDEEP SAXENA India and Nigeria have identified areas such as crude oil, natural gas, pharmaceuticals, Unified Payments Interface (UPI), local currency settlement system, and power sector to increase cooperation for boosting economic ties. The commerce ministry on May 3 said that these issues among…

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How Nigeria’s naira fell to record low amid conflict and instability

Posted on February 17, 2024 By admin
How Nigeria’s naira fell to record low amid conflict and instability

Nigerians are facing one of the West African nation’s worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. The situation has provoked anger and protests across the country. The latest government statistics released Thursday showed the inflation rate…

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