Economy

Economy

FDI crashes by 70% as foreign investors opt for hot money in Nigeria

Economy

FG audits N38.3 trillion public assets to curb waste, boost transparency in public enterprises – MOFI

Economy

Standard Chartered, Citi, Stanbic IBTC account for 80% of Nigeria’s Q1 2025 capital inflow

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Economy

News and analysis on the Nigerian economy

Buhari renames 15 airports after Awolowo, Okadigbo, Idiagbon, and others

Public Debt

Explained: Why Nigeria is not yet broke

by Research Team

July 25, 2022

We explain why Nigeria is not broke.

Budget

“Nigeria is not broke” – Fashola

by Chike Olisah

July 25, 2022

Minister of Works and Housing Babatunde Raji Fashola has said that Nigeria is not broke. He made this comment in...

coping-with-possible-effects-of-fuel-subsidy-removal-in-nigeria

Budget

FG estimates fuel subsidy payment of N6.72 trillion for 2023

by William Ukpe

July 22, 2022

The Nigerian Government has announced that assumes that the subsidy on petrol is estimated at N6.72 trillion for full-year 2023...

Nigeria’s GDP growth slows to 2.31% in Q1 2023

GDP

FG projects Nigeria’s GDP growth at 3.75% in 2023, and 3.30% in 2024

by William Ukpe

July 22, 2022

The Federal Government has projected that Nigeria's real GDP growth will rise to 3.75% in 2023, from a revised projection...

land borders to be reopened soon, Finance, Ministaer, vow to recover AMCON debt through issuance of promissory notes, FG reiterates stance on IPPIS as ASUU threatens strike, Finance Minister, Zainab Ahmed identifies capital market as key driver for economic growth , Nigeria has paid $1.09 billion to service its debts in 2019 , Dividends on oil proceeds will be taxed - FG , State governments own most bad roads - Finance Minister says, Budget deficit increases by N351.98 billion, as FG misses revenue target, Economy: Funding MSMEs in Nigeria , Finance Bill: New tax regime to take effect from Jan 2 - FG , Again, Finance Minister argues that Nigeria is not in debt distress , ECOWAS: Single currency regime not kicking off in 2020 , FG: CBN holds N43 billion stamp duty charges collected by banks , FG may shift deadline to deactivate bank accounts without tax verification, Confusion as ministry and presidency disagree over Finance Act start date, 7.5% VAT: Implementation to begin Feb 1 – FG , Finance Minister: Nigeria to go into recession if ..., Foreign tech companies that will now pay tax to FGN: see the criteria

Nigeria spends 118% of revenue on debt service

by Samuel Oyekanmi

July 21, 2022

Recent data released by the Ministry of Finance, Budget and National Planning reveal that Nigeria’s debt service cost surpassed its...

Nigeria’s GDP grows by 3.4% in 2021, fastest rate in 7 years

World Bank says Nigerians got richer as Income Per Capita surges to $5,250 in 2021

by Samuel Oyekanmi

July 21, 2022

The World Bank’s latest Gross National Income per capita report shows that Nigeria’s gross national income per capita has surged...

CBN orders banks to commence payment of new redesigned naira notes over the counter

Nigeria earned $2.9 billion from non-oil sector export in Q1 2022 – Emefiele

by Chris Ugwu

The CBN Governor has said that the country achieved about $2.9 billion from the non-oil export proceed as at the...

Inflation

Cost of making Jollof Rice rises to N9,311 per pot

by William Ukpe

The average cost of cooking a pot of Jollof Rice went up from N8,595 to N9,311 at the end of...

Inflation

UK inflation hits a 40-year high of 9.4% in June

by Zainab Iwayemi

U.K. inflation rose fr another new 40-year high in June, driven by the increasing food and energy prices which continues...

The Manufacturing Sector contracts by -2.75% in 2020, bringing 2 years of growth to an end, Nigeria’s manufacturing sector records real GDP growth of 3.49% in Q2 2021

Recession fears ease as Nigeria’s purchasing managers’ index rises to 51.1 points in June 2022

by Samuel Oyekanmi