Nigeria has been faced with the most complicated form of inflation, where all the possible types are evident at the same time, said a development economist, Ken Ife. Ife, who appeared on Channels Television’s The Morning Brief on Monday, October 20, described the current inflation pressure as a complex case of stagflation, a rare economic …
China did not import any soybeans from the United States in September, the first time since November 2018, as escalating trade tensions and high tariffs pushed buyers toward South American suppliers. According to data from China’s General Administration of Customs, imports from the U.S. fell to zero from 1.7 million metric tons in the same …
The Centre for the Promotion of Private Enterprise (CPPE) has said that the recent announcement of the prerogative of mercy to certain beneficiaries, if not reviewed and rationalised, could have far-reaching implications on investments and the Nigerian economy. It expressed its concerns in a statement on Sunday, October 19, by its Managing Director/Chief Executive Officer, …
The key messaging from Nigeria’s delegation at the 2025 International Monetary Fund/World Bank annual meeting in Washington DC is that Nigeria's economic reform agenda is yielding tangible results, steering the nation toward stability, inclusiveness, and innovation-driven growth. According to Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN) and the Leader of the …
Central Bank of Nigeria (CBN), Governor, Dr Olayemi Cardoso, has said Nigeria’s economic reforms are yielding significant benefits and positioning the country firmly on the path to stability, inclusiveness, and innovation-driven growth. Cardoso said the economic reforms such as the removal of fuel subsidies, foreign exchange overhaul and policies aimed at boosting fiscal strength, have …
Federation allocation to the federal government, states and local council areas (LCAs) declined to N2.103 trillion in September, compared to N2.22 trillion shared in August. The Federation Account Allocation Committee (FAAC) disclosed this on Friday, October 17. It said the allocation was shared at its October meeting, chaired by the Accountant General of the Federation, …
The United Bank for Africa (UBA) Plc has unveiled a new white paper focused on driving sustainable growth and economic transformation across the continent with a target to unlock $4 trillion of domestic capital, among others. The document, 'Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth,' was unveiled on the sidelines of …
Chairman of Heirs Holdings, Transcorp, and United Bank for Africa, Tony Elumelu in this interview with select journalist attending the International Monetary Fund/World Bank Annual meetings in Washington DC, spoke on a number issues including taking more risk with the pension funds You spoke on digital transformation and its benefits for Africa. What was your …
The Central Bank of Nigeria (CBN) stated that the country's monthly foreign exchange (FX) turnover increased to an average of $8.6 billion in 2025, attributing this to reforms surrounding remittance and other issues. The Deputy Governor for Economic Policy, Mohammed Sani Abdullahi, hinted at this on Wednesday, October 15, during an investors forum on the …
Tony Elumelu, Chairman of Heirs Holdings and United Bank for Africa (UBA), has called for the mobilisation of $4 trillion in domestic capital across Africa to fund large-scale investments in artificial intelligence (AI), energy, and infrastructure. This, he said, is key to a broader strategy of democratising prosperity across the continent. Elumelu made the call …
