Economy

While many Nigerians continue to express frustration over the rising cost of living and the short-term pains of economic restructuring, global confidence in the country’s reform trajectory is growing. Two of the world’s most respected financial institutions the International Monetary Fund (IMF) and Moody’s have commended the federal government’s bold…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to retain the benchmark interest rate at 27.5% for the second consecutive time, as part of ongoing efforts to sustain the momentum of disinflation. Speaking at the end of the MPC’s July meeting in Abuja on…

The Office of the Accountant General of the Federation (OAGF) has confirmed a delay in the payment of June 2025 salaries to some Federal Government workers, especially those whose bank accounts are domiciled with Zenith Bank Plc. In a statement issued on Friday, the OAGF Director of Press and Public…

Reversing years of economic volatility, the International Monetary Fund’s latest Article IV Consultation affirms a new reality: Nigeria is making meaningful progress following a series of significant structural reforms to restore financial discipline and credibility.  The IMF commended Nigeria’s authorities for bold and politically difficult policies that have “improved macroeconomic…

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today, has welcomed the release of the International Monetary Fund’s (IMF) findings on Nigeria, following the conclusion of the Article IV Consultation in April 2025. In a statement sent to journalists and seen by Director, Information and…

The International Monetary Fund (IMF) has projected a 3.4% expansion in Nigeria’s real Gross Domestic Product (GDP) for 2025. This marks a positive outlook for the country’s economic growth. This forecast is contained in the IMF’s conclusion of the 2025 Article IV consultation with Nigeria posted on its website Wednesday.…

In a landmark move to accelerate Nigeria’s infrastructure revolution, President Bola Ahmed Tinubu has empowered the Infrastructure Concession Regulatory Commission (ICRC) to implement a more efficient and better streamlined Public-Private Partnership (PPP) project delivery process by approving PPP thresholds for Ministries, Departments, and Agencies (MDAs). In a statement Sunday by…

Kogi State Government says it is accelerating reforms under the $750 million World Bank-supported, State Action on Business Enabling Reforms (SABER) programme aimed at improving ease of doing business across the 36 states of the federation.   Governor Alhaji Ahmed Usman Ododo stated this while playing host to a one-day strategic technical…

Transactions on the floor of Nigerian Exchange NGX on Thursday returned to negative performance, declining by N308 billion as bears dominate market activities during the day. Market Capitalization of listed equities declined by 0.40 per cent to N76.453 trillion from N76.761 trillion reported the previous day. The NGX also depreciated…

Africa received over $95 billion in remittances in 2024, with Nigeria, Egypt, and Morocco emerging as the top beneficiaries, according to the State of Africa’s Infrastructure Report 2025 released by the Africa Finance Corporation (AFC). The figure nearly matched the total foreign direct investment (FDI) inflow into the continent for…