By Obinna Uballa Nigeria has missed out on the International Monetary Fund’s (IMF) latest list of Africa’s fastest-growing economies, as countries such as Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda continue to dominate the continent’s growth landscape. The IMF’s Director of African Department, Abebe Selassie, made the disclosure on Thursday during the presentation of…
By Abiola Olawale The International Monetary Fund (IMF) has upgraded Nigeria’s economic growth projection for 2025 to 3.9% expansion. The IMF also forecasted that Nigeria’s economic growth will accelerate to 4.2% in 2026. This revision was announced on Tuesday during the launch of the World Economic Outlook (WEO) 2025 at the ongoing World Bank and…
By Obinna Uballa Nigeria has secured another landmark investment in its energy sector as Shell Petroleum Development Company (SPDC) announced a Final Investment Decision (FID) worth $2 billion for a new offshore gas project in the HI Field, located in Oil Mining Lease (OML) 144. President Bola Tinubu, in a statement released by his Special…
By Obinna Uballa The Zamfara State Government has reported a total revenue generation of N358.9 billion for the 2024 fiscal year, achieving 82 percent of its approved N437 billion budget target. The announcement was made on Thursday in Gusau by the State Auditor-General, Abubakar Danmaliki, during the presentation of the state’s 2024 Citizens Accountability Report.…
By Obinna Uballa Nigeria has reinforced its status as Africa’s leading net exporter, as trade volumes with regional peers jumped by N610 billion in the first half (H1) of 2025, according to fresh data from the National Bureau of Statistics (NBS). Total trade with other African countries climbed to N4.82 trillion in H1 2025, up…
By Obinna Uballa Tope Fasua, a Special Adviser to the President on Economic Matters, has said that inflation would fall to a single digit in the near future, citing what he called recent improvements in food supply, currency stability, and global oil prices as indicators. Fasua, who spoke on Channels Television’s The Morning Brief on…
By Obinna Uballa China’s economic slowdown intensified in August, with retail sales, industrial output and investment figures falling short of expectations, underscoring persistent weakness in domestic demand and the drag from Beijing’s clampdown on industrial overcapacity. Data from the National Bureau of Statistics (NBS) on Monday showed retail sales rising just 3.4% year-on-year, below the…
By Abiola Olawale The National Bureau of Statistics (NBS) has announced that Nigeria achieved a trade surplus of N7.46 trillion in the second quarter of 2025 (Q2 2025). NBS explained that this figure underscores the country's growing export prowess, particularly in key sectors such as mineral fuels and machinery. The latest NBS report, titled Foreign…
By Abiola Olawale Amid rising public anxieties over a 5% fuel tax, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has clarified that the new levy is not a fresh imposition by President Bola Tinubu's administration. He explained that the levy originated from a 2007 law and remains dormant until…
