ECONOMY

      BudgIT, a leading civic-tech organization promoting transparency, accountability, and effective service delivery in Nigeria, under its State Fiscal Transparency League project, has extensively assessed the procurement websites of Nigeria’s 36 states to evaluate the level of transparency and accessibility of procurement-related information to the public. The assessments,...

      The United Nations has said that Nigeria’s rising debt, increasing inflation rate and its impact on the welfare of the citizens, puts the nation at risk of declining economic growth in 2024. The UN made this known in its World Economic Situation and Prospects report for 2024...

  The Director of the Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf has stated that monetary policy tool of interest rate hiking has been ineffective in tackling inflation in Nigeria Yusuf stated this during an interview with Arise TV on the outlook for the manufacturing sector...

The National Bureau of Statistics (NBS) has said Nigeria’s capital importation dipped by 43.55% to $654.65 million in the third quarter of 2023 (Q3 2023). This was contained in the Bureau’s report titled: “Nigeria Capital Importation Q3 2023,” which noted that the capital importation declined from the $1,159.67% recorded in...

  Oyo State governor, ‘Seyi Makinde, has signed the N438.4 Billion Budget, declaring that his administration will demonstrate total fidelity to implementing the budget and ensuring that the state achieves its vision of a well-recovered economy. He noted that the Budget was prepared after the state had put into consideration...

The National Bureau of Statistics (NBS) says the unemployment rate in Nigeria increased to 4.2 per cent in Q2 2023 from the 4.1 per cent recorded in Q1 2023. The NBS said this in its Nigeria Labour Force Survey for Q2 2023, released in Abuja on Thursday. It said the...

Nigeria witnessed a surge in its inflation rate from 27.33 per cent in October 2023 to 28.20 per cent in November 2023, the latest ‘CPI and Inflation Report’ released by the National Bureau of Statistics (NBS) on Friday revealed. The report highlighted a substantial increase of 0.87 per cent points...

A World Bank report has highlighted that more Nigerians have become poorer due to recent economic and fiscal reforms. This is contained in its World Bank Nigeria Development Update titled ‘Turning the Corner: Time to Move From Reforms to Results.’ According to the bank, the key reforms include restructuring the...

  The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has stated that the upward trends in inflation and exchange rates are expected to decline in 2024. The apex bank’s Chief also anticipates a decrease in revenue from oil exports in the upcoming year. He shared these insights...

    BudgIT, a leading civic-tech organization promoting transparency, accountability, and effective service delivery in Nigeria, has raised concerns over the proposed 2024 Appropriation Bill presented to the National Assembly by President Bola Ahmed Tinubu. Recall that in August 2023, we itemized ten plagues that the Tinubu administration should avoid...