Economy

Economy

Central Bank of Nigeria cuts interest rate for the first time since 2020

Olawale Afolabi -
Nigeria’s central bank has lowered its benchmark lending rate for the first time in...
Economy

Nigeria moves to rewrite oil law PIA, stripping NNPC of contract control

Plu Team -
The Nigerian government is preparing its first major overhaul of the Petroleum Industry Act...
Economy

Understanding the FoB levy Nigerian govt suspended

Plu Team -
Earlier this week, the Federal Ministry of Finance directed the immediate suspension of the...
Economy

What’s driving the naira’s rally – and will it last?

Plu Team -
The naira broke through a key psychological barrier on Monday, climbing below ₦1,500 to...
Economy

5% petrol and diesel tax delay offers little relief for Nigerians

Plu Team -
Nigeria’s worst cost-of-living crisis in a generation is set to deepen, as government confirmation...
Economy

Nigerian economy at risk from U.S. tariffs, global market moves – Akpan Ekpo

Plu Team -
U.S. trade tariffs, changes in global oil markets, and other international economic moves could...
Economy

NIIRA 2025 Explained: What’s new in Nigeria’s insurance law Tinubu signed?

Plu Team -
President Bola Ahmed Tinubu on Tuesday signed into law the Nigerian Insurance Industry Reform...
Economy

Tinubu feeding hungry Nigerians with “false” economic data – Obi

Plu Team -
Labour Party presidential candidate Peter Obi has accused President Bola Tinubu of feeding Nigerians...
Economy

Nigeria’s rebased GDP rises to ₦373 trillion but growth lags expectations

Plu Team -
Nigeria’s economy is now valued at ₦372.8 trillion in nominal terms for 2024 following...
Economy

Billions unaccounted for in Nigeria’s books as IMF flags data gaps

Plu Team -
Nigeria is struggling to account for billions of dollars in its official trade and...
Economy

Nigeria’s easing inflation fails to drive faster business growth

Plu Team -
Business activity in Nigeria expanded at its weakest pace in seven months in June,...
Economy

Naira stabilised after 2023 crisis, but cracks are emerging

Ini Ekott -
After a six-month rebound from its worst-ever crisis in 2023, the naira weakened sharply...
Economy

Naira amongst Africa’s top three weakest currencies in 2024

Plu Team -
While African currencies generally stabilized in 2024 following earlier reforms, three currencies stood out...
Economy

World Bank: Nigeria’s crushing poverty to worsen despite oil wealth

Plu Team -
Despite Nigeria’s natural resource wealth and repeated government assurances of progress, more citizens are...
Economy

More pain ahead as IMF predicts 37% inflation for Nigeria in 2026

Plu Team -
Nigeria’s economic will likely deepen in the coming year as the International Monetary Fund...
Economy

Nigeria’s most indebted states: Lagos, Kaduna, Edo top list

Olawale Afolabi -
Lagos and Kaduna states lead Nigeria’s subnational debt chart, with combined external and domestic...
Economy

Naira plunges after weeks of stability as demand pressure mounts

Plu Team -
The naira weakened further against the US dollar on Tuesday, extending losses from earlier...
Economy

Agriculture struggles as Nigeria’s economy expands in 2024

Plu Team -
Nigeria’s economy recorded a stronger performance in 2024, growing by 3.4% compared to 2.74%...
Economy

In NBS’ new inflation formular, food prices rise count less

Olawale Afolabi -
Nigeria’s National Bureau of Statistics (NBS) announced a significantly lower inflation rate on Tuesday...
Economy

Nigerian govt announces dramatic drop in inflation after rebasing

Plu Team -
The National Bureau of Statistics has announced a significantly lower inflation rate for Nigeria...
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