Economic News

The International Monetary Fund (IMF) has urged oil exporters in Sub-Saharan Africa, including Nigeria, to aim for buffers of 5 to 10% of GDP to manage large oil price swings....

On Monday, the crude oil market rose as optimism about China relaxing its COVID-19 restrictions outweighed concerns about a global recession weighing on energy demand. Brent crude rose 76 cents...

According to Central Bank of Nigeria (CBN) data, outstanding consumer credit in Nigeria fell by 6.78% to N1,933.18 billion at the end of June 2022, down from N2,073.76 billion in...

According to the World Bank, the Nigerian government spends only $220 per Nigerian per year, which is one of the lowest spending levels in the world at 12% of GDP....

The Rice Farmers Association of Nigeria (RIFAN) and Tiamin Rice Company have signed a Memorandum of Understanding (MoU) for the domestic and international sale of rice. Mr Aliyu Ibrahim, the...

The Nigerian government has stated that the Vision 2050 report will be implemented soon to replace the Vision 2020 agenda, which expired two years ago. The Finance Minister, Zainab Ahmed,...

Despite the United States Federal Reserve raising interest rates for the fourth time this year, Brent crude gained 1.6% or $1.51 per barrel on Wednesday to $96.16 per barrel. Even...

Transnational Corporation of Nigeria (Transcorp) Plc has released its third-quarter results for the fiscal year ending September 30, 2022, showing significant improvement across its major income lines. Despite the extremely...

During the nine months ending September 30, 2022, Dangote Cement Plc and BUA Cement Plc spent a whopping N263.157 billion on fuel and power. This is a 44.31% increase over...

According to the Nigeria Inter-Bank Settlement System (NIBSS), bank customers in Nigeria transferred a total of N12.8 trillion using mobile devices between January and September of this year. The NIBSS...