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The IMF reports that Nigeria's economic reforms have led to improved macroeconomic outcomes over the past three years. However, high poverty rates continue to pose challenges for many Nigerians.
IMF issued the advisory in its latest Article IV consultation report on Nigeria, noting that while rising crude oil prices could boost foreign exchange inflows into the country, it is capable of driving inflation higher. The post CBN may need to sterilise FX inflows from increase...
The Nigerian government has expressed its commitment to ongoing economic reforms following the IMF's 2026 Article IV Mission Concluding Statement. This dedication signals a positive direction for the country's economic policies.
As protests over Warri's disputed ward delineation disrupt oil facilities and threaten production, ex-militant leader Tompolo has called for restraint, dialogue and swift action by INEC to avert a deeper crisis in the Niger Delta. The post Tompolo calls for calm as Warri delineat...
Shell has outlined key strategies to enhance gas utilization in Nigeria, emphasizing the need for improved pipeline infrastructure. This initiative aims to transform gas from a policy goal into a viable energy source for industries.
China's inflation has stabilized in May, attributed to declining energy prices. This comes alongside a notable increase in imports and exports driven by demand for technology components and machinery.
The Nigerian naira showed stability against the US dollar on June 10, 2026, in both official and parallel markets. Market participants are closely observing liquidity conditions affecting foreign exchange.
Nigerian youth encounter significant obstacles in securing formal employment despite the country's industrious workforce. The official unemployment rate highlights the challenges they face in accessing job opportunities.
The IMF has raised concerns regarding the transparency of Nigeria's $5 billion agreement with the UAE. It advises the government to explore Eurobonds and maintain a tight monetary policy to address inflation issues affecting Nigerians.
The Nigerian government has expressed commitment to ongoing economic reforms following the IMF's positive assessment. Oyedele emphasized the importance of sustaining these reforms for future growth.
Ministers at the NBA-SBL Dinner expressed optimism about Nigeria's economic outlook. They highlighted ongoing significant economic and institutional reforms in the country.
The World Bank warns that climate change may push an additional 5.1 million Nigerians into poverty by 2035. It emphasizes the need for $94.6 billion investment in climate resilience to prevent a potential GDP shrinkage of 6.8% by 2050.
Nigeria has expressed support for OPEC's decision to maintain its current crude oil production framework. This comes as OPEC+ increases its production levels, indicating Nigeria's commitment to the cartel's strategies.
The Abuja Chamber of Commerce and Industry (ACCI) urges the suspension of the Senate-approved sugar tax, citing potential economic burdens on businesses and investments. They have also rescheduled the AGROMEQA Expo 2026 to November for broader stakeholder engagement.
The Lagos State Government is actively promoting investment opportunities in infrastructure and tourism to attract global capital. Governor Sanwo-Olu and Deputy Governor Hamzat are leading these efforts to position Lagos as Africa's top investment destination.
Lagos has been ranked as Nigeria's most competitive economy according to the latest Phillips Consulting State Performance Index. This highlights the state's pivotal role in driving the country's economic development.
Nigeria's trade surplus surged by 91% to N7.55 trillion in Q1 2026, up from N3.95 trillion in Q1 2025. This growth was fueled by a significant drop in imports and a slight increase in exports.
Nigeria's manufacturing sector experienced a significant decline in foreign investment, dropping 50.7% to $152 million in Q1 2026. This marks a stark decrease from $308.93 million in the previous quarter.
The proposed increase in excise duties on sugar-sweetened beverages (SSBs) could jeopardize 33% of Nigeria's manufacturing output and threaten 1.5 million jobs, according to the Manufacturers Association of Nigeria (MAN). The opposition to this tax is growing as it is seen as harmful to businesses.
The IMF has advised Nigeria to reject a proposed $5 billion loan from the UAE, citing concerns over national debt. Instead, it recommends the government implement increased taxes to address economic challenges faced by the country.
Nigeria's digital economy is growing rapidly, with electronic payment transactions exceeding N1 quadrillion in 2024. However, cybercrime poses a significant threat to this expansion, impacting businesses and government services.
Oil prices have dropped due to growing optimism about a diplomatic resolution between Iran and the US. This development could lead to lower fuel costs for Nigeria.
The recent fire that razed approximately 15 shops at Akpan Andem Market in Uyo, Akwa Ibom State, is a heart-wrenching reminder of the precarious existence of Nigerian market traders. The tragedy is particularly poignant because it was preventable. The fire truck meant to contain ...
The IMF forecasts Nigeria's external debt will hit $72.6 billion after the 2027 elections, raising concerns about fiscal stability. This projection highlights the ongoing challenges related to the country's debt management.
Nigeria incurs an annual loss of $850 million due to inadequate digital identity systems, according to NiRA. Strengthening the use of .ng domains could enhance economic growth and data sovereignty.
The World Bank warns that Sub-Saharan Africa will face a $59 billion debt burden by 2025. Rising external debt service pressures and geopolitical shocks are contributing to a challenging economic outlook for the region.
The Nigerian government has introduced a $1 billion fund to support exporters as part of the AfCFTA initiative. This initiative aims to enhance the production and competitiveness of local businesses in international markets.
Schneider Electric highlights that ongoing power shortages significantly impede Africa's industrial development and economic progress. The report emphasizes the urgent need for improved energy solutions across the continent.
Nigeria's government has pledged to improve fiscal reporting and budget transparency after receiving a positive assessment from the IMF. This commitment aims to foster sustainable economic growth in the country.
Nigeria’s power sector lost N310bn in Q1 2026 due to unbilled energy and poor revenue collection, NERC reports. Discover the impact of these power sector l