Nigeria’s ambition to achieve investment-grade sovereign credit status by 2030 will depend on its ability to turn ambitious economic projections into stronger revenue, productive investment and sustainable public finances. The warning comes as the government targets annual economic growth of 10.34 per cent by 2030, despite recording average growth of 3.11 per cent under the …
Ghanaian businesses could soon pay Chinese suppliers directly in yuan from their cedi accounts under a new banking arrangement designed to reduce reliance on the US dollar and cut foreign-exchange conversion costs. Stanbic Bank Ghana is piloting the arrangement through China’s Cross-Border Interbank Payment System (CIPS), which enables financial institutions to process cross-border payments in …
President Bola Ahmed Tinubu has defended his administration’s economic reforms, saying they are beginning to yield measurable results despite the difficulties faced by Nigerians. He cited more than $6 billion in non-oil export earnings, rising foreign direct investment (FDI) and stronger foreign exchange reserves as evidence of improved economic stability. Tinubu, who spoke in his …
Corporate Accountability and Public Participation Africa (CAPPA) has called on the Federal Government to measure the success of its economic reforms by their impact on household incomes, living standards and economic opportunities, rather than improvements in government revenues and macroeconomic indicators. The organisation made the call on Wednesday in a statement marking Nigeria’s 66th Independence …
As Nigeria marks 66 years of independence on October 1, the Centre for the Promotion of Private Enterprise (CPPE) has called for a shift from economic stabilisation to a stronger productivity agenda that can translate recent macroeconomic gains into higher incomes, jobs and improved living standards. In a statement issued on Tuesday, September 29, CPPE …
The distribution of Federation Account Allocation Committee (FAAC) revenue in the first half of 2026 exposed a wide gap in the funds available to Nigeria’s states and local governments, with Lagos receiving about 6.5 times more than Ekiti at the state level, and the highest-funded local government receiving 8.6 times more than the lowest. FAAC …
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’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 …
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 …
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, …
