Tag: EIU Report

‘Delay in crude supply to ?angote Refinery poses risk to Nigeria’s economy’ – EIU Report

Aminu Imam
EIU logo

The Economist Intelligence Unit (EUU) has issued a warning that further delays in crude oil feedstock to the ?angote Petroleum Refinery and Petrochemicals could jeopardise Nigeria’s economic recovery and put additional pressure on the naira. The research and analysis division of the Economist Group said the ?angote Refinery which began production in January has encountered setbacks in petrol production due to a shortage of crude oil feedstock. It said the $20 billion facility has successfully exported various products, including fuel oil, naphtha, nitrogen fertilisers, gasoil, jet fuel, and diesel but…

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‘Mass social unrest, other risks could impact Nigeria’s peace in 2024’ – EIU

Aminu Imam

The Economist Intelligence Unit, (EIU) has highlighted five key risks for Nigeria that could severely impact the attainment of important goals of peace, economic stabilisation and development in the months ahead. In its March 2024 report, the EIU listed the risks to include high possibility of Nigeria moving too fast on market reform and thereby unleashing mass unrest; the highly probable likelihood of social unrest that forces the government to make concessions on its reform agenda; strikes that bring the economy to a halt. Others risk of the Naira crossing…

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CBN ‘lacks experience’ to conduct monetary policy under float – EIU

Aminu Imam

The Economist Intelligence Unit (EIU), an arm of The Economist of London, has predicted that the Federal Government will go back to a system where they have more control over the exchange rate. The EIU made the prediction in its latest report about the Nigerian currency, the naira. Recall that last month, the Central Bank of Nigeria (CBN), complying with the Federal Government’s directive, announced the unification of all segments of the foreign exchange (FX) market, signalling the end of its control of the foreign exchange market. Since then, the…

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‘Expect a return to a CBN-controlled exchange rate system’ – EIU

Aminu Imam

…Says Naira should trade N815/$1 in 2024 The Economic Intelligence Unit (EIU) has predicted in its latest report about the Nigerian currency, the naira, that it believes the Nigerian government will go back to a system where they have more control over the exchange rate. This, it said, is to try and stop the naira from losing its value much further. The EIU pointed out that the Central Bank of Nigeria (CBN), which manages the country’s money, doesn’t have much experience handling a flexible exchange rate system. Before President Bola…

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Economist Intelligence Unit predicts victory for Tinubu in 2023 polls

Aminu Imam

The Economist Intelligence Unit (EIU), an arm of The Economist of London, has predicted victory for Bola Tinubu, presidential candidate of the All Progressives Congress, in the 2023 presidential election. The UK-based platform, in a new country report published by a Nigerian business publication yesterday, said the controversy of the Muslim-Muslim presidential ticket will not affect Tinubu’s chances in the elections. “We expect Tinubu to take the presidency, and recent developments have only reinforced our thinking. It does not appear that a Muslim-Muslim ticket will weigh significantly on Tinubu’s electoral…

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