By Milcah Tanimu
1. CBN’s Final MPC Meeting of 2024
The Central Bank of Nigeria (CBN) holds its last Monetary Policy Committee (MPC) meeting for the year from November 25–26. The September meeting raised the Monetary Policy Rate (MPR) to 27.25%.
2. NBS GDP Report for Q3
The National Bureau of Statistics (NBS) will release its Q3 2024 GDP report. Q2 saw a 3.19% growth, surpassing Q2 2023’s 2.51%. Additional reports on company income tax and capital importation are expected.
3. $20 Billion Saved from Economic Reforms
Wale Edun, Finance Minister, announced that policies like subsidy removal and naira float have saved Nigeria $20 billion, equal to 5% of GDP.
4. Nigerians to Pay for New National ID Cards
The National Identity Management Commission (NIMC) revealed that Nigerians must now pay for new multipurpose ID cards, citing limited government resources.
5. Dangote Refinery Cuts Petrol Ex-Depot Price
The Dangote Refinery has reduced the ex-depot price of petrol from N990 to N970 per litre, offering oil marketers savings of N20 per litre.
6. $2.2 Billion Loan Approved for 2024 Budget
The National Assembly approved President Tinubu’s $2.2 billion loan request, equivalent to N1.7 trillion, to address the 2024 budget deficit of N9.1 trillion.
7. Naira-Based Crude Sales Face Challenges
The Dangote Refinery highlights struggles with the government’s crude sales in naira. Supply from NNPC falls short of the agreed 385,000 barrels per day, impacting operations.
These stories provide critical insights into Nigeria’s economic landscape for the week ahead.
