Article(s) about
Monetary Policy Instruments Used By the CBNUntil about 1993 when OMO was introduced, the CBN relied almost exclusively on varying combinations of direct instruments of monetary control from time to time. These instruments included: credit ceilings, secretarial credit allocation, interest rate controls, imposition of special deposits, moral [Read more]
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Posted: 12 years ago | ||
Nigeria Exits the London ClubFollowing Nigeria’s exit from the Paris Club, attention was focused on Nigeria’s London Club Debts. Consequently, about US$1.406 billion (N182.78 billion) was paid to exit the London Club debts, while a further US$1.487 billion, to redeem the par bonds between November and December [Read more]
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Posted: 12 years ago | ||
Nominal Anchor for Monetary PolicyA nominal anchor for monetary policy is a single variable or device which the central bank uses to pin down expectations of private agents about the nominal price level or its path or about what the Bank might do with respect to achieving that path (Krugman, 2003). Generally, the two kinds of [Read more]
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Posted: 12 years ago | ||
Objectives and Targets of Monetary Policy in NigeriaIn Nigeria, the major objectives of policy are the attainment of price stability and sustainable economic growth.
Associated objectives are those full employment and stable long-term interest rates and real exchange rates. In pursuing these objectives, the CBN recognises the existence of [Read more]
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Posted: 12 years ago | ||
Direction of Monetary Policy in Nigeria Beyond 2007The current monetary policy framework is based on the targeting of bank reserves as operating target with monetary aggregates as intermediate target. The ultimate objective is to influence the general level of prices - inflation.
Monetary targeting implied by the current practice was considered [Read more]
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Posted: 12 years ago | ||
Nigeria Intensifies Protection to Grow Its Sugar SectorThe 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 [Read more]
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Posted: 12 years ago | ||
Nigeria Introduces Levy on Wheat GrainReport 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 [Read more]
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Posted: 13 years ago | ||
Agricultural Biotechnology Annual Report for NigeriaReport 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 [Read more]
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Posted: 13 years ago | ||
Gain Report - Nigeria: Sugar AnnualReport 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 [Read more]
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Posted: 13 years ago | ||
Gain Report - Nigeria: insecurity and fuel price hike threaten food security in NigeriaReport 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 [Read more]
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Posted: 13 years ago |