Nigeria is facing a fresh wave of economic pressures despite recent reforms, as the International Monetary Fund warns of multiple risks that could slow growth and strain public finances in its latest Regional Economic Outlook for Sub-Saharan Africa. The report acknowledges that Nigeria made progress in 2025 through key reforms, but says the country now …
Lagos State Governor Babajide Sanwo-Olu has announced the arrival of new train sets aimed at expanding capacity and improving commuter experience on the Lagos Red Line rail corridor. The governor disclosed on Thursday that the state had taken delivery of additional rolling stock to strengthen operations on the line, which connects key parts of the …
Sub-Saharan Africa’s recent economic progress is under fresh threat from rising global tensions, as the war in the Middle East begins to push up prices and slow growth across the region, the International Monetary Fund has warned. Speaking at a press briefing during the IMF Spring Meetings on Thursday, April 16, the IMF Director of the …
Africa’s richest industrialist, Aliko Dangote, has been named in the 2026 TIME100 list of the world’s most influential people, reinforcing his global standing as a key driver of industrial growth on the continent. The list, released on April 15 by TIME Magazine, features leading figures across politics, business, technology and culture, including Donald Trump, Xi …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that Nigeria’s progress in slowing inflation is under serious threat, as rising energy, food and transport costs begin to push prices up again, putting more pressure on households and businesses. In its reaction to the March 2026 inflation report released by the National Bureau …
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the global economy is facing rising risks from slowing growth, high debt, and increasing global uncertainty, calling on countries to take urgent and coordinated action. In the IMF’s latest Global Policy Agenda, Georgieva stated that the world is at a critical …
Nigeria’s inflation rate rose slightly to 15.38 per cent in March from 15.06 per cent recorded in February, as a sharp jump in prices within the month heightened concerns about the cost of living. The latest figures were released by the National Bureau of Statistics on Wednesday. Despite the uptick, inflation remains significantly lower than …
Residents of the Makoko waterfront in Lagos have rejected plans to relocate them from their ancestral homes, nearly three months after a mass demolition displaced thousands, insisting instead on being included in a United Nations-backed urban development project. This is according to a press statement signed by community leaders and representatives and sent to Pinnacle …
Nigeria’s total public debt rose sharply in the last quarter of 2025 to ₦159.28 trillion, even as the naira strengthened against the US dollar, pointing to increased borrowing rather than currency pressure as the main driver of the surge. The latest figure was released on Tuesday by the National Bureau of Statistics (NBS). It shows …
The International Monetary Fund (IMF) has lowered Nigeria’s economic growth forecast for 2026 to 4.1 per cent, citing the impact of the ongoing Middle East war on energy prices and global supply chains. The downgrade was announced during the IMF and World Bank Spring Meetings in Washington, D.C., where officials warned that rising fuel costs …
