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[BREAKING] Nigeria’s Inflation Rises to 21.91℅

The National Bureau of Statistics on Wednesday said the inflation rate has risen to 21.91%, compared to January 2023 inflation rate which was 21.82%. The percentage represents a 0.09% point…

Buhari Must Address Cash Crunch as Economy Tightens

Nigeria’s President Muhammadu Buhari must immediately address the cash crunch already crippling the country’s economy. Buhari’s continued silence on a national issue as such is fuelling tensions and agitations from…

Naira Redesign Affected the Economy, says Manufacturers

According to the Manufacturers Association of Nigeria (MAN), among other factors, the redesign of Naira notes has had a negative impact on the economy and tends to worsen employment in…

[REPORT] OctaFX Reveals Optimistic Market Forecast for 2023

2022 brought turbulence to the markets with surging interest rates, unexpected inflation, and plummeting stock markets. However, the energy sector proved to be a beacon of hope with an impressive…

[REPORT] Nigeria’s Public Debt Rose to N44.06trn in Q3

Nigeria’s public debt rose from N42.84 trillion (103.31 billion dollars) in the second quarter of 2022 to N44.06 trillion (101.91 billion dollars) in the third quarter of 2022. The National…

UN Projects Nigerian Economy to Grow by 3 percent in 2023

The UN said poor power supply in the country, and the economy would benefit from robust commodities trade and dynamic consumer goods and services markets.

Nigeria Needs at least N3.7tn to Tackle Poverty

Nigeria’s poverty rate has been rising on an annual basis. 63 percent of people—133 million Nigerians out of an estimated population of 211 million—are multi-dimensionally poor. By implication, two out…

BoI, Afreximbank Sign Pact to Mobilise Resources for ICT, Creative Economy

I am particularly pleased that Afreximbank and BOI are boldly venturing upstream to help investors develop well-structured projects that meet market standards.

Stakeholders Warn FG Against Borrowing as Economy Continues to Shrink

Most businesses in Nigeria are now on the brink of collapse under the pressures from the economic policy environment.

Uber Country Manager Makes Strong Case for Gig Economy

Gig work has the ability to drive such a transformation of the earning landscape faster and more efficiently than most traditional avenues and policies are able to. 

Expert Cites Policy Distortions as Nigeria’s Economy Toughens

Hernandez noted that the high inflation has crashed the value of the national minimum wage of N30,000 ($82), which is now worth N22,000 ($37).

Nigeria’s Trade Surplus Hits N1.2 Trillion, According to NBS

A trade surplus is an economic indicator of a positive trade balance in which the exports of a nation outweigh its imports.

FG to Revive Economy Through Cocoa Production, Targets 500,000 Tonnes 

Cocoa is among Nigeria’s leading agricultural exports and constitutes 2% of its exports annually.

Nigeria’s 2022 Q1 Economic Growth Slows

GDP grew by 3.98 percent in the fourth quarter of 2021. In the first three months of last year, the growth rate was 0.51 percent.

AU eyes $11.48m grant from African Development Fund to strengthen delivery of Agenda 2063

The grant will contribute to the Institutional Capacity Building for the African Union Project, a program designed to improve the AUC’s capacity to drive Agenda 2063