Nigeria’s public debt has nearly doubled in naira terms in three years, while commercial banks have sharply increased their holdings of government securities, raising questions about how much of the financial system’s growing pool of funds is reaching businesses seeking credit. A review of data covering June 2023 to June 2026 shows that Nigeria’s total …
Nigeria has used the 81st United Nations General Assembly (UNGA) in New York to push for major changes to global institutions, greater access to development finance and stronger representation for Africa in international decision-making. Vice-President Kashim Shettima, representing President Bola Tinubu, delivered Nigeria’s national statement on Thursday, calling for reforms spanning the UN Security Council, …
Princess Adeyinka Tekenah saw an opportunity in a market where about 90 per cent of the coffee consumed in Nigeria was imported. With a $5,000 seed grant from the Tony Elumelu Foundation (TEF) in 2015, she launched Happy Coffee, a business that has since served more than 30,000 cups of coffee, generated over ₦90 million …
Nigeria’s economy is projected to grow by 4.1 per cent in 2026 and 4.3 per cent in 2027, putting its growth trajectory significantly ahead of South Africa, which the IMF expects to expand by only 1.1 per cent and 1.3 per cent, respectively, over the same period. The projections were contained in the International Monetary …
The Securities and Exchange Commission (SEC) will launch a new 10-year strategy for Nigeria’s capital market alongside a National Savings Scheme at its 2026 National Capital Market Conference on October 19 in Abuja. The conference, scheduled to be held at the Banquet Hall of the Presidential Villa, will bring together key stakeholders from the public …
Nigeria’s economic growth is projected to accelerate to 4.11 per cent in the fourth quarter from an estimated 3.96 per cent in the third quarter. The rebound is, however, expected alongside renewed inflationary pressures, fiscal strain, and foreign exchange risks. The projection was contained in a macroeconomic review and Q4 2026 outlook presented by Bismarck …
Nigeria’s Access Bank Plc is consolidating its Kenyan operations as the Central Bank of Kenya (CBK) approves the transfer of all the business, assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK). The CBK announced the transaction in a statement dated September 23, 2026, saying the transfer followed its …
The recent Memorandum of Understanding (MoU) between the Federal Government and the Central Bank of Nigeria (CBN) on fiscal and monetary policy coordination has created a new test for how government borrowing, cash management and monetary policy are coordinated. The Alliance for Economic Research and Ethics said in a statement on Tuesday, through its Chairman, …
The Centre for the Promotion of Private Enterprise (CPPE) has said the Central Bank of Nigeria’s decision to cut its benchmark interest rate to 23 per cent could ease borrowing costs for businesses and reduce the Federal Government’s domestic debt-service burden. The CPPE, in a policy brief issued on Tuesday by its Chief Executive Officer, …
The Central Bank of Nigeria (CBN) has reset its benchmark interest rate to 23 per cent as part of an operational overhaul aimed at strengthening the transmission of monetary policy to the economy. CBN Governor Olayemi Cardoso announced the decision on Tuesday after the two-day Monetary Policy Committee (MPC) meeting. He said the reset was …
