Cardoso Predicts Lower Interest Rates as CBN Reforms Strengthen Nigeria’s Economy
Nigeria’s high interest rates may not remain for much longer, according to Central Bank of Nigeria (CBN) Governor Olayemi Cardoso,…
Category: Economy
US tariff threatens Nigerian exports, foreign investment, group warns
The Sea Empowerment & Research Centre (SEREC) has warned that the United States’ decision to increase import tariffs on goods…
NESG Warns Nigeria’s Economic Recovery Could Stall Without Sustained Reforms
Nigeria’s economic recovery is showing encouraging signs, but the progress could quickly unravel if the Federal Government fails to strengthen…
Nigeria risks missing AI revolution, World Bank economist warns
Nigeria could miss out on one of the biggest technological transformations of the century unless it acts quickly to embrace…
Non-Oil Exports Drive Nigeria’s $71bn FX Inflows
Nigeria’s push to diversify its economy is beginning to pay off, as stronger non-oil exports helped drive autonomous foreign exchange…
FG Exceeds Borrowing Target by ₦4.79tn as Revenue Shortfall Deepens Nigeria’s Fiscal Crisis
Nigeria’s fiscal challenges have come into sharper focus after the Federal Government exceeded its 2024 borrowing target by a staggering…
Nigerians Cut Petrol Use by 22% as Pump Prices Nearly Doubled in H1—Marketers
The sharp rise in petrol prices across Nigeria has significantly changed consumer spending habits, with millions of Nigerians cutting back…
Nigeria’s 2026 VAT Reform: How the New Consumption-Based Formula Could Reshape State Revenue
Nigeria’s tax landscape is entering a new era as the Nigeria 2026 VAT reform introduces a major change in how…
CBN: Nigeria’s FX inflows hit $109.9 billion as autonomous sources drive growth
Nigeria’s foreign exchange (FX) inflows recorded a significant boost in 2025, reaching $109.86 billion, according to the Central Bank of…
India’s Economic Growth Faces Slowdown as Rising Oil Prices Shake GDP Outlook
India’s economic growth is expected to lose momentum in the current fiscal year as soaring global oil prices and sluggish…
Cash outside banks hits seven-month low, drops by N485.80 billion in 2026
Nigeria’s banking sector recorded a significant milestone in June 2026 as cash held outside banks dropped to N4.92 trillion, the…
Businesses Fault U.S. Tariff, Seek Urgent FG Action
The Organised Private Sector (OPS) has expressed growing concern over the United States’ decision to impose a 12.5 per cent…
Nigeria’s FX Market Hits Record $4.4 Billion Turnover
Nigeria’s foreign exchange market has reached a historic milestone, recording its highest weekly turnover of 2026 as trading activity surged…
Nigeria’s manufacturers say they are sinking, with no relief in sight
Nigeria’s manufacturing sector is facing one of its toughest periods in recent years as soaring production costs, expensive energy, and…
Nigeria Reaffirms Commitment to IMF Reforms as Government Targets Stronger Economic Growth
The Federal Government has reaffirmed its commitment to working closely with the International Monetary Fund (IMF) as it continues implementing…
Top 10 African Countries with the Highest Interest Rates in July 2026
African economies are navigating one of the toughest monetary policy environments in recent years, with central banks maintaining high interest…
South Africa keeps interest rate at 7% amid rising inflation, rand weakness
South Africa’s central bank has left its benchmark interest rate unchanged at 7%, opting for caution as inflationary pressures, a…
IMF Urges Nigeria, African Nations to Improve Data Transparency to Attract Global Investment
Nigeria and other African countries have been urged by the International Monetary Fund (IMF) to strengthen economic stability, improve data…
Tinubu Turns to World Bank Loans to Expand Social Programmes Amid Rising Poverty
President Bola Tinubu’s administration is increasingly relying on World Bank financing to drive its social investment agenda as it seeks…
Nigeria’s Money Supply Rises to N133.25tn Despite CBN’s Tight Monetary Policy
Nigeria’s broad money supply increased to N133.25 trillion in June 2026, highlighting continued liquidity growth despite the Central Bank of…
Inflows, FX reforms lift external reserves 58% under Cardoso
Nigeria’s external reserves have recorded a remarkable 58 per cent increase since Olayemi Cardoso assumed office as Governor of the…
Nigeria bonds: Top issuers paid up to 20% to raise debt in H1 2026
Corporate and government-backed institutions in Nigeria paid as much as 20% in coupon rates to raise funds from the debt…
Nigeria’s External Reserves Hit $52 Billion, Surpass CBN’s 2026 Target
Nigeria’s external reserves have climbed above the $52 billion mark for the first time in over 17 years, exceeding the…
CBN Holds Interest Rate at 26.5% as Economists Push for Cuts to Ease Borrowing Costs
The Central Bank of Nigeria (CBN) has once again kept its benchmark interest rate at 26.5%, a decision that continues…
Nigeria, Germany Strengthen Strategic Partnership as Bilateral Trade Rises by 10%
Nigeria and Germany have reaffirmed their commitment to strengthening diplomatic and economic relations following a significant increase in bilateral trade…
Nigeria’s Money Supply Climbs to N133.25 Trillion Despite High Interest Rate Regime
Nigeria’s broad money supply surged to N133.25 trillion in June 2026, highlighting continued liquidity growth in the economy despite the…
CBN Explains N100, N200 Note Scarcity as Digital Payments Gain Ground in Nigeria
The Central Bank of Nigeria (CBN) has attributed the growing scarcity of N100 and N200 notes across the country to…
Nigeria’s FX Reserves Climb to $52.5bn as Crude Oil Tax Revenue Boosts External Buffers
Nigeria’s foreign exchange reserves have recorded a significant increase, reaching $52.52 billion as of July 17, 2026, according to the…
Financial stability remains foundation for growth – Oyedele
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has stressed that financial stability remains the cornerstone…
CBN Holds Interest Rate at 26.5% as Businesses Back Cautious Approach Amid Global Uncertainty
Nigeria’s business community and leading economists have thrown their support behind the Central Bank of Nigeria’s decision to maintain the…