Naira Stays Firm Below ₦2,200/£ as Global Pound Strength Faces Local Resistance
The Nigerian naira held firm against the British pound in the unofficial market, closing at around ₦2,177/£ as of April…
Category: Macroeconomic
Fitch Upgrades Credit Ratings of Lagos, Kaduna, Kogi, and Oyo States Amid Nigeria’s Economic Reforms
Global credit rating agency Fitch Ratings has upgraded the Long-Term Issuer Default Ratings (IDRs) of Lagos, Kaduna, Kogi, and Oyo…
FG to resume payment of wage award arrears
The Federal Government has announced plans to resume payments for the outstanding five months of N35,000 wage award arrears to…
FIRS Orders Banks to Close Unauthorised Tax Accounts to Boost Tax Collection Transparency
The Federal Inland Revenue Service (FIRS) has issued a directive to all banks in Nigeria, mandating the closure of any…
CBN Grants Direct Forex Access to PAPSS to Boost Intra-African Trade
The Central Bank of Nigeria (CBN) has implemented new measures aimed at enhancing Nigeria’s role in Africa’s cross-border trade by…
Nigeria’s Economic Reforms Gain Global Support, Strengthening Naira and Investor Confidence
At the 2025 Spring Meetings of the International Monetary Fund (IMF) and World Bank Group, Olayemi Cardoso, Governor of Nigeria’s…
FG Approves Textile Development Board and $90bn Agribusiness, Livestock Growth Plan
The National Economic Council (NEC), chaired by Vice President Kashim Shettima, has approved the establishment of the Cotton, Textile, and…
Nigerian Banks See 51% Surge in Customer Deposits to N140.97 Trillion in 2024 Amid Economic Challenges
In 2024, Nigerian banks achieved a remarkable 51% growth in customer deposits, reaching N140.97 trillion, compared to N93.5 trillion in…
Global Debt Challenges: Navigating Fiscal Policy Amid Economic Uncertainty
Amid escalating global uncertainty, governments face tough choices in balancing rising public debt with economic growth and urgent spending needs.…
Panic Over World Bank’s 56% Poverty Surge Forecast in Nigeria: Urgent Calls for Action
A recent warning from the World Bank has sparked widespread concern about a projected 56% increase in poverty rates in…
Foreign Investors Propel NGX Beyond N1trn Threshold Amid Strong Market Activity
In March 2025, the Nigerian Exchange Limited (NGX) experienced significant growth, crossing the N1 trillion threshold for the first time,…
Ghana’s Inflation Set to Ease Further in April, Analysts Predict
Inflation in Ghana is expected to continue its downward trend in April 2025, with market analysts projecting a further decrease…
Government Exceeds Treasury Bill Target by GHS 550 Million in Latest Auction- Ghana
The Government of Ghana has successfully exceeded its Treasury bill target by GHS 550 million, according to the latest auction…
CBN Raises N2.93trn from T-Bills and OMO Auctions Amid Strong Investor Demand
In a significant move, the Central Bank of Nigeria (CBN) successfully raised N2.93 trillion through Treasury Bills (T-Bills) and Open…
Nigeria Poised for Economic Resilience Amid Global Uncertainties, Says Finance Minister Edun
Nigeria’s economic outlook remains positive despite global uncertainties, according to Wale Edun, the Minister of Finance and Coordinating Minister of…
Nigeria’s Debt Servicing Costs Soar to N8.9tn, Straining Public Finances
Nigeria’s debt servicing costs have skyrocketed to N8.9 trillion in the first nine months of 2024, surpassing the budgeted figure…
IMF Boss commends Ato Forson for strong commitment to economic reforms
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), has praised Ghana’s Finance Minister, Dr. Cassiel Ato Forson, for…
Nigeria’s Carbon Market Policy Set to Unlock $2.5 Billion by 2030, Drive Green Investment Surge
President Bola Ahmed Tinubu has unveiled Nigeria’s newly finalised Carbon Market Activation Policy, projected to attract up to $2.5 billion…
Nigeria Records $15.2 Billion Net Forex Inflow in Q1 2025 Amid Deepening Market Reforms
Nigeria’s foreign exchange (FX) market posted a net inflow of $15.2 billion in Q1 2025, signaling a sharp boost in…
Jimoh Ibrahim Urges IMF to Anchor African Economic Projections on Empirical Data
At the IMF/World Bank Spring Meetings in Washington DC, Nigerian Senator and business leader Jimoh Ibrahim emphasized the urgent need…
Cardoso’s Global Diplomacy to Strengthen Nigeria’s Economy and Investor Confidence
In April 2025, during the International Monetary Fund (IMF) and World Bank’s Spring Meetings in Washington, DC, Central Bank of…
Nigerians Save N75.65 Trillion in Quasi-Money Amid Economic Uncertainty, CBN Reports
Amid ongoing economic challenges, Nigerians have increasingly turned to savings and low-risk financial instruments, as evidenced by the Central Bank…
World Bank Partners with Ghana to Create 500,000 Jobs for Youth Annually
The World Bank has announced its commitment to helping Ghana address its youth unemployment crisis through a new Growth and…
IMF Urges Nigeria to Strengthen Subsidy Reforms and Fiscal Discipline Amid Rising Debt Concerns
The International Monetary Fund (IMF) has stressed the importance of fiscal discipline in Nigeria, particularly in the wake of the…
IMF Warns Nigeria of Fiscal Strain as Global Tensions Threaten Oil Revenue
Nigeria is facing mounting fiscal pressure as the International Monetary Fund (IMF) warns that intensifying global trade tensions and tighter…
Nigerians Boost Savings as Quasi-Money Climbs 3.65% in March 2025 Amid Economic Uncertainty
Nigerians are leaning into savings as the economy faces continued uncertainty, with quasi-money—highly liquid financial assets like savings and fixed…
IMF Warns of Growing Global Financial Stability Risks Amid Tightening Conditions and Uncertainty
The International Monetary Fund (IMF) has issued a warning about rising global financial stability risks, driven by tighter financial conditions,…
Trump Slams Fed Chair Powell, Triggering Market Turmoil and Dollar Slide
U.S. financial markets took a sharp dive on Monday after President Donald Trump publicly lashed out at Federal Reserve Chair…
IMF Forecasts Nigeria’s Inflation to Reach 37% by 2026 Amid Economic Challenges
The International Monetary Fund (IMF) has projected that Nigeria’s headline inflation will surge to 37% in 2026, following the rebasing…
Naira in Circulation Drops to N5tn as of March 2025 Amid Tightened Monetary Policy
As of March 2025, Nigeria’s currency in circulation dropped to N5 trillion, reflecting a decrease from N5.04 trillion in February…