Category: Economy
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IMF tells FG to tighten monetary policy over inflation concerns
The International Monetary Fund (IMF) has said a tight monetary policy stance is required to firmly guide inflation down in Nigeria.
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Nigeria’s inflation increases to 24.23% in March 2025
Nigeria’s headline inflation rate rose to 24.23% in March 2025, according to the official government data source, the Nigeria Bureau of Statistics (NBS). The rise in the country’s inflation rate, from 23.18% back in February 2025 to 24.23% in March 2025, reflected a major increase in the rising commodity and energy costs in the last…
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Bank recapitalisation crucial to achieving $1trn economy – CBN
The Central Bank of Nigeria (CBN), says recapitalisation of Nigerian banks is crucial to the march towards achieving a one-trillion dollar economy. CBN’s Deputy Governor, Corporate Services, Emem Usoro, said this on Monday in Abuja, at the ongoing 36th edition of the Finance Correspondents Association of Nigeria (FICAN).
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Africa’s real GDP projected to grow by 4% in 2025 – Afreximbank
Africa’s real Gross Domestic Product (GDP) is projected to grow by 4.0 per cent in 2025, in spite global economic fragility, says Afreximbank Research Report. The 2025 African Trade and Economic Outlook (ATEO) Report, a research by Afreximbank, said Africa’s real
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What Nigeria need to withstand U.S. tariff shock – Economist
An economist, Dr. Yemi Kale, says Nigeria requires 40 per cent annual growth rate to cushion the potential negative impact of the United States’ (U.S.) recent tariff hike on its one trillion dollar economic growth vision.Kale, who is the Group Chief Economist and Managing Director, Research and Trade Intelligence,
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Economy resurgence: CBN declares $6.83bn balance of payments surplus
The Central Bank of Nigeria (CBN) has announced a Balance of Payments (BOP) surplus of 6.83 billion dollars for the 2024 financial year. According to a statement issued by Hakama Sidi-Ali, CBN’s Director, Corporate Communications Department,
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No going back: FG insists on Naira-for-crude policy to boost economic independence
The Federal Government has reaffirmed its unwavering commitment to the implementation of the Crude and Refined Product Sales in Naira initiative, describing it as a strategic, long-term policy aimed at bolstering Nigeria’s energy independence and easing pressure on foreign exchange reserves.
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Why Nigeria can become global economic growth driver-World Bank
Dr. Ndiame Diop, the World Bank Country Director for Nigeria, has emphasized that Nigeria’s rapidly growing working-age population, which is expected to reach approximately 100 million in the next 25 years, presents a unique opportunity for the country to become a major global economic driver. According to Diop, this demographic growth will not only outpace…
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Shettima explains why Nigeria has one of the World’s lowest tax-to-GDP ratios
Vice President Kashim Shettima has provided insight into why Nigeria has one of the lowest tax-to-GDP ratios globally. Speaking on Friday in Abuja at the 2nd Joint Workshop on the 2025 National Budget, organized by the Association of National Accountants of Nigeria (ANAN) and the Chartered Institute of Taxation of Nigeria (CITN), Shettima attributed the…
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KADIRS rakes N14.16bn in 2025, debunks claims of decline in IGR
The Kaduna State Internal Revenue Service (KADIRS), said it has collected N14.16billion revenue in 2025, while debunking claims of a decline in Internally Generated Revenue (IGR).