Articles

A. What Is Inflation? - Inflation is one of the most frequently used terms in economic discussions, yet the concept is variously misconstrued. There are various schools of thought on inflation, but there is a consensus among economists that inflation is a continuous rise in the prices. Simply put, i [Read more]

Of the four-point agenda stressed by the Governor, Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, on assumption of office, the need to strengthen regulation and supervision through enhanced disclosures by financial institutions, stands out clearly. This was sequel to the backdrop of the CBN&r [Read more]

The Government of Nigeria has banned imports of packaged sugar, granulated and in cubes, beginning January 2013. Nigeria’s Trade and Investment Minister, Dr. Olusegun Aganga, said this was in line with the Nigerian Sugar Master Plan which aims at achieving self-sufficiency in the country&rsquo [Read more]

Report Highlights: Effective July 20, 2012, the Government of Nigeria (GON) introduced a 15-percent levy on wheat grain imports resulting in an increase of the effective duty from 5 percent to 20 percent. The GON also introduced a 65-percent levy on wheat flour imports to increase the effective duty [Read more]

Report Highlights: The Nigeria Senate passed the Biosafety Bill into law on June 1, 2011. However, one year after the President is yet to sign it into law. The law leans heavily on the precautionary approach and requires certification and mandatory labeling for imports of all products of biotechnolo [Read more]

Report Highlights: Although Nigeria dropped from the number one export destination in the world for U.S. wheat in MY2010/11 to third position this year, it remains the most consistent and loyal customer. Sales as of April1 are a record 3.5 million tons, up from 3.3 million tons last year. Consumptio [Read more]

Report Highlights: Nigeria depends almost exclusively on sugar imports in the form of brown sugar, largely imported from Brazil (98 percent) despite privatization of all government -owned sugar resources. The Nigerian sugar industry has been reinvigorated by privatization; however, production rem [Read more]

Report Highlights: The GON has announced plans to cut wheat imports by introducing a new policy compelling cassava flour inclusion in wheat flour. Part of their plan is to impose a levy of 15 percent on wheat grain imports, which will increase the effective duty from 5 percent to 20 percent. The gov [Read more]

Report Highlights: The Government of Nigeria’s (GON) attempt to remove its gasoline subsidy on the first day of year 2012 resulted in an industrial strike, severely crippling economic activity for the week that it lasted. After lengthy negotiations with organized labor, the GON was able to rem [Read more]

Report Highlights: Nigeria's grain production this year is up slightly from the average crop of 2010. Farmers increased average and rainfall patterns were near ideal for the growing season. The arrival of the new crop in the market has not brought any respite to poultry producers as grain prices [Read more]