The Federal Government has defended its debt position, saying claims that interest payments reached 124 per cent of revenue in the first half of 2026 present an incomplete picture of public finances. In a statement issued on Sunday, October 18, by the Federal Ministry of Finance, it argued that the figure cited in the World …
Petroleum marketers have warned that the Federal Government’s proposed ₦1,350-per-litre ceiling on petrol costs could distort market prices, urging the government to allow competition and market forces to determine prices in Nigeria’s deregulated downstream petroleum sector. The Major Energies Marketers Association of Nigeria (MEMAN) said arbitrary price caps would not address the structural challenges affecting …
The International Monetary Fund (IMF) has warned African governments against broad fuel-price relief measures, saying they are expensive and poorly targeted as rising energy costs threaten household incomes and economic stability across sub-Saharan Africa. Zeine Zeidane, director of the IMF’s African Department, said on Thursday that generalised fuel-price smoothing could cost about four per cent …
The International Monetary Fund (IMF) has warned that global public debt could reach 100 per cent of world economic output by the end of the decade, as rising borrowing costs and expensive responses to energy shocks put government finances under increasing pressure. It said countries must urgently strengthen their public finances, improve tax systems and …
The International Monetary Fund (IMF) has advised Nigeria to resist calls to restore broad-based petrol subsidies, recommending targeted transport support and better public spending to protect vulnerable households without worsening pressure on government finances. The Fund said directing relief to people most affected by higher fuel prices would be more effective than subsidising petrol for …
The International Monetary Fund (IMF) has warned that rising energy prices, higher borrowing costs and uncertainty surrounding the artificial intelligence boom are putting pressure on the global economy, leaving growth increasingly vulnerable to further shocks. The Fund projects global economic growth at 3.1 per cent in 2026 before rising to 3.4 per cent in 2027, …
The Centre for the Promotion of Private Enterprise (CPPE) has urged federal and state governments to expand relief measures beyond petrol price discounts, recommending subsidised mass transit, support for agricultural production and targeted assistance for vulnerable households to cushion the impact of rising energy costs. The organisation said limited fuel price relief would have a …
The International Monetary Fund (IMF) has urged the Nigerian government to expand targeted cash transfers and temporary income support for vulnerable households as rising food and energy costs deepen pressure on living standards. The Fund also called for improved revenue collection and better public spending to protect vulnerable citizens while maintaining fiscal stability. Deniz Igan, …
The International Monetary Fund (IMF) has said improvements in inflation suggest a less restrictive monetary policy stance could be appropriate for Nigeria. It added that the Central Bank of Nigeria (CBN) must remain data-driven and explain its decisions clearly to protect its credibility. Jason Wu, Assistant Director in the IMF’s Monetary and Capital Markets Department, …
Dangote Petroleum Refinery and Petrochemicals has extended its initial public offering (IPO) by two weeks to give more African investors time to participate, despite receiving subscriptions reportedly worth more than three to four times its intended fundraising target. The offer, scheduled to close today, Tuesday, October 13, will now remain open until October 27, after …
