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MONETARY POLICY COMMITTEE
Nigeria’s fiscal deficit continues to swell, with recent figures showing a budget deficit of 7.6% of GDP as of August 2024, outpacing the approved 3.8% target for the year.
The federal government of Nigeria’s fiscal deficit surged to N4.53 trillion in the second quarter of 2024, up from N3.88 trillion in the previous quarter.
Nigeria’s money supply (M3) has grown by 62.8% year-on-year (YoY) in September 2024, despite the Monetary Policy Committee’s (MPC) tightening stance aimed at curbing excess liquidity to control inflation.
The Bank of Ghana has cut interest rates by 200 basis points from 29% to 27% as inflation...
Nigeria’s external reserves have increased yet again, reaching $39.07 billion as of September 19, 2024.
The Federal Government of Nigeria, through the Debt Management Office (DMO), has opened offers for subscription to Federal Government of Nigeria (FGN) savings bonds for September 2024.
At least three members of the Monetary Policy Committee (MPC) voted to retain the Monetary Policy Rate (MPR) at 26.25% during the MPC meeting of the Central Bank of Nigeria (CBN) on July 22-23, 2024.
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has disclosed that capital importation has risen to $5.92 billion between January and June 2024.
Nigeria’s external reserves have increased yet again, reaching $37.05 billion as of July 18, 2024.
The Central Bank of Nigeria (CBN) monetary policy committee has raised interest rate by 50 basis points from 26.25% to 26.75%.
Nigeria’s external reserves have increased yet again, this time by $1.88 billion to $34.66 billion as of July 4, 2024, marking a 13-month high.
Nigeria's external reserve rose hit a new milestone in June rising to $34.07 billion,the highest level since March 2024.