Economy

News and analysis on the Nigerian economy

Senate approves Buhari’s $16 billion, €1 billion foreign loans, $125 million grant

Budget

Highlights of amended N17.3 trillion 2022 budget passed by National Assembly

by William Ukpe

April 14, 2022

The National Assembly today passed the amendments to the 2022 Appropriation Act based on President Buhari's requests.

Diaspora

Ghana inflation hits 19.4%, highest in 10 years

by Ubah Jeremiah Ifeanyi

April 13, 2022

Ghana's inflation rate hit its highest level in more than a decade, according to March figures.

[Appointment] Twitter Confirms Jack Dorsey As New CEO

Inflation

Twitter founder, Jack Dorsey says US dollar inflation affecting Nigeria

by William Ukpe

April 12, 2022

Jack Dorsey has stated that the effects of the US dollar inflation is being negatively felt by Nigeria and other...

Maritime: FG will open industry for investment – Amaechi

Budget

2023: Rotimi Amaechi declares intention to run for Presidency

by William Ukpe

April 9, 2022

Minister of Transportation, Chibuike Rotimi Amaechi has declared his intention to run for the 2023 Presidential elections.

diaspora remittances, Total credit to the economy rose to N19.54trillion – CBN Governor, CRR debits, P-AADS, #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities, Covid-19: Court closures impacted revenue generation for courts - Emefiele, P&ID dispute: UK Court orders $200 million guarantee to FG, Leaked letter by Poultry Farmers Association triggered CBN emergency approval to import maize, nImplications of CBN's latest devaluation and FX unification, current account deficit, IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele , Increasing food prices might erase chances of CBN cutting interest rate , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction, Nigeria’s foreign reserves hit $36.57 billion; Emefiele keeps his word on defending the naira, CBN to support maize farmers, projects 12.5 million metric tons in 18 months, BREAKING: CBN Upscales Greenwich Trust Limited, grants it's operational license for merchant banking, AGSMEIS: CBN expand beneficiaries to 14,638., CBN expands access to mortgage financing

Circulars

CBN fines 3 more Nigerian banks N514 million for facilitating cryptocurrency transactions

by Ubah Jeremiah Ifeanyi

April 8, 2022

The Central Bank of Nigeria has fined First City Monument Bank (FCMB), Fidelity Bank Plc and Wema Bank a whopping...

Budget

Buhari seeks House of Reps approval for fresh loan to finance 2022 budget deficit

by Chike Olisah

April 7, 2022

President Buhari has officially written to the House of Reps seeking an increase in the 2022 budget deficit...

CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals, companies

Circulars

CBN extends interest rate forbearance by one more year

by Samuel Oyekanmi

April 7, 2022

The CBN has extended the interest rate forbearance it grants to borrowers of some of its intervention funds by one...

Independence: Nothing worth celebrating, Igbo Presidency won’t put food on people’s tables – Peter Obi

Macros

Peter Obi warns that Nigerians now spend 100% of salary on food

by William Ukpe

April 7, 2022

Former Governor of Anambra State, Peter Obi has stated that the Nigerians now spend 100 per cent of their salary...

CBN health intervention fund gets new interest rate by March 2012, Nigerian banks’ non-performing loans drop significantly by 41% in 2019, External reserves decline by over 8% in 3 months, Nigeria’s external reserves increase by $1.36 billion in 13 days

Circulars

CBN fines Nigerian Banks N800 million for facilitating cryptocurrency transactions

by Ubah Jeremiah Ifeanyi

April 6, 2022

The CBN has fined 3 commercial banks a total of N800 million for failing to comply with regulations prohibiting cryptocurrency...

Socio Economic

Covid-19: FG lifts midnight curfew, removes crowd restrictions at weddings, events, others

by Chike Olisah

April 6, 2022

The PSC on Covid-19 has made major changes to some of the earlier introduced measures in view of the declining...

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VAT allocations to states rise 74% to N423 billion in January 2026

Nigeria PMI hits 53.2, broad-based expansion sustains for 16 months

Ghana inflation falls to 3.2% in March 2026, lowest since 2021

Naira weakens to N1,387/$ as reserves fall to $49.29 billion in March

Economy

News and analysis on the Nigerian economy

Highlights of amended N17.3 trillion 2022 budget passed by National Assembly

Ghana inflation hits 19.4%, highest in 10 years

Twitter founder, Jack Dorsey says US dollar inflation affecting Nigeria

2023: Rotimi Amaechi declares intention to run for Presidency

CBN fines 3 more Nigerian banks N514 million for facilitating cryptocurrency transactions

Buhari seeks House of Reps approval for fresh loan to finance 2022 budget deficit

CBN extends interest rate forbearance by one more year

Peter Obi warns that Nigerians now spend 100% of salary on food

CBN fines Nigerian Banks N800 million for facilitating cryptocurrency transactions

Covid-19: FG lifts midnight curfew, removes crowd restrictions at weddings, events, others

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