IMF reports poverty and insecurity remain high in Nigeria
The International Monetary Fund (IMF) has expressed that Nigeria is still facing considerable uncertainty in its economic future, despite a series of significant reforms. During its 2025 Article IV Consultations with Nigeria’s policymakers, IMF’s…
Nigeria’s Inflation Rises to 24.23% in March, Food Prices Drive Surge
The National Bureau of Statistics (NBS) has reported that Nigeria’s headline inflation rate climbed to 24.23 percent in March 2025. The agency disclosed this in its latest Consumer Price Index (CPI) report, released on Tuesday. According to the data, the…
Nigeria Records $6.83 Billion BOP Surplus in 2024, Signaling Economic Recovery
The Central Bank of Nigeria (CBN) has announced a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year, marking a significant recovery from the previous deficits of $3.34 billion in 2023 and $3.32 billion in 2022. This positive…
Pastor Adeboye Reveals RCCG Governing Council Meetings Will Soon Be Held on the Moon
Pastor Enoch Adeboye, General Overseer of the Redeemed Christian Church of God (RCCG), recently shared a divine revelation with church members, stating that the church’s Governing Council will soon hold meetings on the moon. Speaking at a recent…
IMF Urges Nigeria to Fast-Track Cash Transfers Amid Economic Reforms
The International Monetary Fund (IMF) has urged the Federal Government to complement its economic stabilisation and growth initiatives with measures that protect the country’s most vulnerable citizens. To alleviate hardship among the poorest, the IMF…
Seven Banks Meet Recapitalization Target as Smaller Banks Struggle Ahead of 2026 Deadline
With less than a year remaining before Nigeria’s banking recapitalization deadline, only seven banks have met or are on course to meet the new capital requirements. BusinessDay data indicates that commercial and non-interest banks must collectively raise…
Nigeria’s Trade Surges to $50.4 Billion in 2024 Amid Exchange Rate Depreciation and Policy Shifts
Nigeria’s total exports reached $50.4 billion in 2024, driven by the depreciation of the naira and the removal of fuel subsidies, which significantly improved the country’s trade balance. According to data from the National Bureau of Statistics…
IMF: Tinubu’s Reforms Strengthening Naira, Restoring Economic Stability
The International Monetary Fund (IMF) has acknowledged that the economic reforms implemented by the Bola Ahmed Tinubu administration have contributed to restoring stability in Nigeria and strengthening the naira. Gita Gopinath, the IMF’s first deputy…
Nigeria’s Foreign Reserves Exceed $40 Billion Amid Economic Reforms
Nigeria’s foreign reserves have surpassed $40 billion for the first time in nearly three years, signaling a significant step in the country’s economic recovery. Central Bank Governor Olayemi Cardoso credited this milestone to major reforms aimed at…
Nigerian Companies’ Tax Liabilities Surge 50.54% to N210.52bn in 2024
Thirteen Nigerian companies have recorded a significant increase in their current tax liabilities, which rose by 50.54% to N210.52 billion in 2024, compared to N139.85 billion in 2023. The companies affected include VFD Group, BUA Foods, Nigerian…