World Bank Downgrades Nigeria’s 2026 Economic Growth to 4.1% Amid Global Uncertainty
The World Bank has revised Nigeria’s economic growth forecast for 2026 downward to 4.1 percent, reflecting persistent global uncertainties and…
Category: Economy
World Bank Flags Fiscal Risks in Nigeria’s N4tn Power Sector Bond
The World Bank has raised concerns over Nigeria’s N4tn bond programme designed to settle long-standing debts owed to power-generating companies.…
Nigeria’s Power Sector Contributes N62.12 Billion in Company Income Tax in 2025 Amid Declining Performance
Nigeria’s power sector contributed N62.12 billion in Company Income Tax in 2025, according to the National Bureau of Statistics (NBS).…
Oil Shock to Drive Nigeria Inflation Up by 3.1 Points, Warns World Bank
Nigeria faces a rising inflation threat as global oil prices surge, the World Bank has warned. In its latest Nigeria…
Nigeria Revenue Deductions Swallow 39% of 2025 Inflows, World Bank Warns
Nigeria’s revenue growth in 2025 is impressive on paper, but the World Bank has highlighted a growing fiscal leak that…
Ghana’s Economic Recovery Shows Promise but Risks Remain, S&P Maintains Stable Outlook
Ghana’s economy is showing signs of recovery, according to a recent report by S&P Global Ratings, which affirmed the country’s…
GenCos Question N3.3tn Power Sector Debt Settlement Amid Delayed Payments
The Federal Government’s renewed approval of N3.3tn to settle long-standing power sector debts has ignited fresh controversy, with power generation…
Nigeria Achieves Fiscal Milestone: Non-Oil Revenue Now 75% of Federation Funds
Nigeria has marked a historic turning point in its economic landscape, as non-oil revenue now accounts for 75 per cent…
Nigeria Shifts to Tax-Driven Revenue Model as Oil Income Plummets by 26% Over 15 Years
Nigeria’s federal revenue landscape is undergoing a historic transformation, with tax and non-oil income increasingly driving government finances. According to…
FG Raises 2026 Borrowing to N29.2 Trillion as Nigeria’s Fiscal Deficit Widens
The Federal Government of Nigeria has raised its borrowing plan for 2026 to N29.2 trillion, reflecting a sharp increase in…
Rising Oil Prices Weaken African Currencies, Deepen Inflation Risks Across the Continent
African economies are facing a sharp financial strain as global oil prices surge by over 50 percent, pushing crude above…
US-Iran War Sparks Economic Strain on Nigerian Businesses and Consumers
The Nigerian business economy is under renewed strain as the ongoing war between the United States and Iran, which erupted…
Nigeria’s Foreign Reserves Drop by $850 Million Amid Election Spending and FX Pressures
Nigeria’s foreign reserves have declined by about $850 million within three weeks, raising fresh concerns among forex traders and market…
Ghana Reference Rate Drops to 10.06% as Lending Costs Start to Ease
Ghana’s financial landscape is seeing a welcome shift as the Ghana Reference Rate (GRR) falls to 10.06% in April 2026,…
Nigeria’s Economic Growth Slows in March 2026 Amid Rising Costs – CBN PMI Report
Nigeria’s economy maintained its growth streak in March 2026, with the Central Bank of Nigeria (CBN) reporting a composite Purchasing…
Nigeria Eyes Global Markets to Boost Trade Amid Structural Challenges
The federal government is accelerating its push toward an export-driven economic model, with Finance and Coordinating Minister Wale Edun emphasizing…
Nigerian States Return to Borrowing Despite FAAC Windfall: Debt Hits N4 Trillion
Nigerian states are returning to heavy borrowing even as allocations from the Federation Account Allocation Committee (FAAC) have soared by…
Hot Money Inflows Drive Nigeria’s $23B Capital Surge, But Analysts Warn of Volatility
Nigeria’s capital importation surged to $6.44 billion in the fourth quarter of 2025, pushing total inflows for the year to…
Naira Strengthens as Remittance Reforms Boost FX Liquidity Despite Falling Reserves
Nigeria’s currency, the naira, started April 2026 on a positive note, posting gains across key foreign exchange markets as improved…
German Firms Target Nigeria’s €222bn Food Market to Boost Agri-Tech Investment
German companies are ramping up their interest in Nigeria’s burgeoning food sector, projected to reach €222 billion by 2026. Both…
President Tinubu Seeks Senate Approval to Raise 2026 Budget by N9 Trillion
President Bola Tinubu has officially requested the Senate’s approval to raise Nigeria’s 2026 Appropriation Bill by N9 trillion, taking the…
Africa Loses $88 Billion Annually to Illicit Financial Flows – Edun Highlights Urgent Need for Fiscal Reforms
Africa loses an estimated $88 billion each year to illicit financial flows (IFFs), Finance Minister and Coordinating Minister of the…
FG Plans to Bridge N9tn Budget Gap with Oil Windfall and $6bn Loans
The Federal Government has requested the National Assembly’s approval for a N9.09tn increase to the 2026 budget, signaling a major…
Naira Weakens to N1,387/$ as Nigeria’s Foreign Reserves Fall to $49.29 Billion
The Nigerian naira weakened slightly to N1,387 per dollar on Tuesday, up from N1,386.75/$ recorded in the previous session, according…
Nigeria’s Oil Sector in Crisis: Urgent Reforms Needed Before Wells Run Dry
For decades, Nigeria’s oil sector has been the backbone of the nation’s economy, funding government budgets and providing much of…
Middle East Conflict Could Slash Africa’s Economic Growth by 1.5% – AfDB Warns
The African Development Bank (AfDB) has cautioned that the ongoing conflict in the Middle East could significantly affect Africa’s economic…
Nigeria’s Banks Face Credit Challenge as Recapitalisation Ends
Nigeria’s banking sector has grown significantly following the Central Bank of Nigeria’s (CBN) sweeping recapitalisation drive, which strengthened balance sheets…
Tax Reforms Drive Nigeria’s Economic Growth: Experts Highlight Opportunities and Challenges
Analysts and tax professionals at the 20th Annual Tax Week have hailed Nigeria’s 2025 tax reforms as a key driver…
Insurance Sector Growth Outpaces Banking but Fails to Boost Nigeria’s GDP Significantly
Nigeria’s insurance sector continues to face a paradox: strong growth rates but minimal contribution to the country’s gross domestic product…
Nigeria’s Foreign Reserves Fall $547 Million in Two Weeks Amid Market Pressures
Nigeria’s foreign reserves have declined by approximately $547 million over a 15-day period in March 2026, signaling renewed pressure on…