ECONOMY

  PwC, a professional tax and advisory firm, has said Nigeria’s economic outlook remains uncertain in spite of efforts made by the Central Bank of Nigeria (CBN) to ensure stability in the FX market to attract investors. It hinges its conclusion on  the rising inflationary trends and volatility in the...

The National Agency for Science and Engineering Infrastructure (NASENI) has announced its first-ever investment in Powerstove, a pioneering Nigerian company specializing in the production of cookstoves, having significant experience in carbon credit projects. This strategic investment marks a major milestone in NASENI's on-going efforts to combat global warming and foster...

The National Bureau of Statistics (NBS) has revealed that Nigeria’s headline inflation rate rose to 33.69 per cent in April 2024. The NBS said this in its Consumer Price Index, CPI, and Inflation Report for April, which was released in Abuja on Wednesday. According to the report, the figure is...

The Nigerian National Petroleum Company NNPC Limited, has refused to acknowledge what it sees as false representation of facts by the International Monetary Fund (IMF) on secret return of petrol subsidy in the country. At different times the IMF is said to be claiming that Nigeria has reintroduced petrol subsidy...

  The International Monetary Fund (IMF) has recommended that Nigeria implement regulatory measures requiring global cryptocurrency trading platforms to register or obtain licenses to operate within the country. This advice was part of the IMF’s latest staff report, which was released on Thursday following the conclusion of its 2024 Article...

The Federal Government on Thursday signed what it called the Aso Accord for Economic and Financial Inclusion with the 36 state governments and other key stakeholders in the private sector. The Accord is part of efforts to actualise delivery of financial services at affordable costs to all Nigerians, including those...

  Nigeria’s food inflation has continued on a steady rise, reaching 40.01 per cent in March 2024 on a year-on-year basis, this is 15.56 percent higher compared to the rate recorded in March 2023 (24.45 percent) and 37.90 percent recorded in February 2024. This is as the headline inflation rate...

Nigeria's economy has gone through very challenging times over the past year. Inflation reached 28.92% in December 2023, the highest in 27 years. Food inflation rose to 33.93% in December 2023. The naira depreciated significantly, losing 25% of value in a single day in June 2023 when the government removed...

  President Bola Tinubu has placed  Nigeria’s economic growth on a flourishing organised private sector, just as he sought their support to drive his administration’s resolve to revamp the struggling economy. Tinubu said the economy was at a turning point and would require the steadfast support of the private sector...

  The Nigeria Customs Service (NCS) collected N1.3trillion in the first quarter of 2024 (Q1 2024), according to its Comptroller General, Adewale Adeniyi. He attributed the feat to the dedication of the officers and cooperation with stakeholders, besides the suppression of smuggling and accelerated trade facilitation. Addressing reporters in Abuja...