ECONOMY

Nigeria’s three tiers of government – federal, state, and local government councils – shared a sum of N1.1411 trillion as the October 2024 Federation Accounts Allocation Revenue (FAAC). Bawa Mokwa, the Director of Press and Public Relations in the Office of the Accountant General of the Federation, OAGF, disclosed this...

  assures residents of improved welfare Oyo State Government has assured residents of the state that the 2025 Budget, when passed into law and approved, will cater to the improvement of their welfare and ensure the economic stability of the state. The state’s Commissioner for Budget and Economic Planning, Professor...

    ActionAid Nigeria has expressed dismay by Nigeria’s escalating public debt, which now stands at N134.297 trillion as of June 2024. In a press statement signed by Andrew Mamedu, ActionAid Country Director, stated: “According to figures from the Debt Management Office (DMO). This staggering debt has grown by nearly...

The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate rose by 1.18 per cent to stand at 33.88 per cent in October 2024. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for October 2024, which was released in Abuja on Friday. According to...

  The innovative leadership of Governor Chukwuma Charles Soludo of Anambra State has earned the state the fourth position in the recent evaluation in BudgIT's State of States 2024 Report in overall fiscal performance and sustainability. With the theme of the report, "Moving Primary Health Care Delivery from Sub-Optimality to...

  Rivers tops fiscal performance ranking; Ebonyi, Kaduna exit as Cross River, Kwara joins Lagos, Anambra in top 5; Jigawa replaces Zamfara at the bottom BudgIT, a prime civic-tech organisation leading the advocacy for fiscal transparency and accountability in Nigeria, has launched the 2024 edition of its annual State of...

  The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that Nigeria needs to raise oil production to address foreign exchange (FX) supply issues. Edun spoke to journalists on Tuesday at the G24 news conference held on the sidelines of International Monetary Fund (IMF)/ World...

The International Monetary Fund (IMF) has reduced Nigeria’s growth prospects over low crude oil production and severe flooding among other challenges currently bedevilling the country’s economy. The fund, in its recently published World Economic Outlook (WEO), noted that “Nigeria’s growth prospects for 2024 dropped to 2.9% from 3.3%” published in...

  Bauchi State governor Bala Mohammed on Thursday confronted the World Bank over the latter’s claims that a reversal of the federal government’s current economic reforms would spell doom for the country, insisting that the reforms are not working. World Bank Country Director Dr Ndiame Diop had, during the launch...

      Nigeria’s headline inflation rate for September 2024 rose to 32.70 per cent after slowing consecutively in the previous two months of July and August. This was according to the latest Consumer Price Index report from the National Bureau of Statistics (NBS). It  represent a marginal increase of...