adminBlackout looms in Nigeria over N4trn debt
Power generation companies, GenCos, on Monday, warned that power plants across the country were facing imminent shutdown over a huge N4 trillion debt owed by the Federal Government. The…
FEC orders full implementation of naira-for-crude deal
The Federal Executive Council has officially directed the full implementation of the suspended Naira-for-Crude agreement with local refiners. The Ministry of Finance disclosed this on its official X handle…
Tinubu’s aide defends soaring Naira, claims N2,500 can get Nigerian a meal in Lekki
Tope Fasua, special adviser on economic affairs in the office of the vice president, says concerns over naira value and poverty are misunderstood. Fasua was clarifying an earlier remark…
CBN Spends $669m To Defend Naira In Q1 2025 — Report
The Central Bank of Nigeria (CBN) deployed approximately $669 million in foreign exchange (FX) interventions during the first quarter of 2025. A report by investment firm, AIICO Capital Limited,…
Oil Declines As CBN Sells $198 Million To Support Naira
Crude oil prices have weakened, declining by over 12% to approximately $65.50 per barrel, following sweeping trade tariffs by President Donald Trump against countries. Oil trade above $70 per…
Reject $1.08bn World Bank loan, probe missing N233bn in NBET, other funds, SERAP tells Tinubu
Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu “to reject the recently approved $1.08bn World Bank loan and instead direct the Attorney General of the Federation…
Nigeria’s debt soars to N144.67tn in 2024
Nigeria’s total public debt rose to N144.67tn ($94.23bn) as of December 31, 2024, representing a 48.58 per cent increase compared to N97.34tn ($108.23bn) recorded at the end of December…
World Bank approves Nigeria’s $1.13bn loan reque
The World Bank says a total of $1.13 billion loan request from Nigeria has been approved. According to details from the bank’s website on Wednesday, three different financing requests…
Nigerians borrowed N470bn in personal loans in Q4 2024 – Report
The Central Bank of Nigeria (CBN) has disclosed that Nigerians took personal loans worth N470 billion from banks in the last quarter of 2024. According to the Fourth Quarter…
Filling Stations Hike Petrol Price Amid Dangote-NNPCL Crude Dispute
Filling stations in Lagos, Nigeria’s commercial capital city, have increased the price of a litre of petrol from ₦860 to ₦930, making consumers pay at least ₦70 more than what…
Electricity consumption up, production growth down in Q4 – CBN report
The Nigerian electricity sector slowed in the fourth quarter of 2024, with the electricity production index declining by 1.64% year-on-year. Data from the Central Bank of Nigeria says this…
Nigerians spent N21tn on food importation – Report
A total of N21.51tn was spent on the importation of various goods, including foodstuffs and other items, by Nigerians over the past four years, data from the National Bureau…
World Bank expresses concern over Nigeria’s data, statistics quality
The World Bank has expressed concern over Nigeria’s poor statistical performance, noting that the country lags behind its aspirational peers such as Mexico, Colombia, South Africa and Brazil. According…
Reps pass tax reform bills
The House of Representatives on Tuesday passed the four tax reform bills transmitted to the National Assembly in October 2024 by President Bola Tinubu. Recall that the House had…
NBS says Nigeria’s inflation dropped to 23.18% in February, yet food prices are still high
The National Bureau of Statistics, in its latest report released on Monday, said the country’s headline inflation rate dropped to 23.18 per cent in February 2025 from 24.48 per…
