The Federal Government said it welcomed the International Monetary Fund’s (IMF) latest assessment of Nigeria’s economy. In a statement on Tuesday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the assessment validates the economic reforms introduced under President Bola Tinubu and confirms that Nigeria is on a stronger path to …
Nigeria's next growth phase will be driven by states and private capital rather than federal spending alone, Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele said as he outlined the government's strategy to attract investment, deepen fiscal reforms and unlock projects across the country. Speaking at the Invest Lagos 3.0 Governor's Investment …
Nigeria recorded a sharp improvement in its foreign trade position in the first quarter of 2026 as exports increased and imports fell significantly. This helped it to post a 341 per cent merchandise trade surplus of ₦7.55 trillion, according to the report by the National Bureau of Statistics (NBS). In its Foreign Trade in Goods Statistics …
The Nigeria Consumer Credit Corporation (CREDICORP) says it has facilitated ₦43.25 billion in consumer credit across the country while maintaining a zero non-performing loan record. In its latest newsletter, the corporation said the credit expansion was delivered through 35 participating financial institutions and has reached over 230,000 beneficiaries nationwide. According to the report, women account …
Efforts by the Securities and Exchange Commission (SEC) to tackle Nigeria's longstanding unclaimed dividend problem are facing renewed scrutiny as investors continue to complain about difficulties recovering their money, even as the value of unclaimed dividends in the capital market has climbed to ₦215 billion. The development raises questions about whether reforms introduced over the …
DataPro has identified credit ratings as a critical tool for restoring investors' confidence and unlocking long-term financing in Nigeria’s struggling power sector. The Nigerian technology-driven Credit Rating Agency stated this in its latest Monthly Rating Brief for June, warning that persistent liquidity shortages, mounting debts and weak cash flows continue to undermine the industry’s sustainability. …
For millions of Nigerian families already grappling with rising food prices, transportation costs, and electricity challenges, the latest surge in the price of cooking gas has added another layer of hardship. Recent data released by the National Bureau of Statistics (NBS) confirmed that the average cost of refilling a 5kg cylinder of Liquefied Petroleum Gas …
Senior regulators from across Nigeria's financial and telecoms sectors have called for deeper cross-agency collaboration to tackle rising payment fraud and digital exclusion, warning that no single institution can deliver the country's digital economy ambitions alone. Speaking at the launch of the Payment System Vision 2028 (PSV 2028) in Abuja, the Executive Vice Chairman of …
Nigeria's economy remains on a gradual recovery path despite lingering structural weaknesses that continue to limit the impact of growth on businesses and households, the Centre for the Promotion of Private Enterprise (CPPE) has said. Reacting to the first quarter 2026 Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS), the …
Fidelity Bank Plc posted a sharp increase in impairment charges on financial assets in the first quarter (Q1) of 2026, as rising macroeconomic pressures and higher provisions for other assets weakened profitability despite strong growth in earnings and foreign exchange gains. An analysis of the bank’s financial results released on Monday shows that impairment charges …
