The African Development Bank Group has approved a $200 million financing facility, worth about ₦280 billion, for Nigeria’s Bank of Industry. This funding will accelerate industrial growth, expand access to …
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Tag:
NigeriaEconomy
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NNPC Limited Records Major Breakthrough with Successful River Niger Crossing on OB3 Gas Pipeline The NNPC Gas Infrastructure Company (NGIC), a wholly owned subsidiary of NNPC Limited, has successfully completed …
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Features/News Analyses
FEATURE ANALYSIS | WORLD BANK WARNS: Nigeria’s Economy Stuck Without Real Reform
The World Bank warns that Nigeria’s stabilisation gains risk stalling without structural reform, as services spur growth while industry and agriculture lag, and that the 2027 elections loom as a …
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news
FG Refutes Hidden Spending Allegations, Clarifies World Bank Report
by Toye Faleyeby Toye FaleyeAbuja: Mr Taiwo Oyedele, Minister of State for Finance, has dismissed reports alleging hidden spending and diversion of federation revenue, describing them as misinterpretations of the World Bank Nigeria Development …
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Lagos: The Naira closed the week with a slight loss at the official market, trading at N1,343.63 per U.S. dollar. Central Bank of Nigeria (CBN) data show the Naira fell …
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Business & Economy
Nigeria’s Reform Drive Gains Momentum as Oil Output Rises, Global Risks Loom
by Toye Faleyeby Toye FaleyeWashington: Nigeria is moving forward with major economic reforms despite growing global uncertainties, according to Finance Minister Wale Edun. He highlighted rising oil production as a key reason for the …
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Business & Economy
IMF Warns Nigeria: Rising Oil Prices Mask Deeper Economic Strains
by Toye Faleyeby Toye FaleyeThe International Monetary Fund (IMF) has warned that Nigeria’s recent gains from higher oil prices will not last. Nigeria still faces deep structural problems that are slowing its economic progress. …
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Business & Economy
World Bank: Nigeria’s Economy Gains, But Inflation Persists
by Toye Faleyeby Toye FaleyeThe World Bank projects an improved outlook for Nigeria, but identifies high inflation and weak early childhood development as critical challenges. Matthew Verghis, the World Bank Country Director for Nigeria, …
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Business & Economy
Nigeria Inflation Falls, Naira Holds Steady in Q1 2026 — CPPE
by Toye Faleyeby Toye FaleyeLAGOS: Nigeria saw a notable improvement in macroeconomic stability in the first quarter of 2026. Inflation eased and the naira stayed steady, according to the Centre for the Promotion of …
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Abuja: Nigeria’s Minister of Finance, Wale Edun, has praised the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for boosting crude oil production to 1.84 million barrels per day, calling the milestone …
