Economy

The International Monetary Fund (IMF) has advised Nigeria to implement targeted and disciplined policy measures to cushion the growing cost-of-living pressure triggered by the ongoing tensions in the Middle East. Speaking during the presentation of the April 2026 Regional Economic Outlook for Sub-Saharan Africa, the Director of the IMF’s African Department, Abebe Aemro Selassie, outlined […]

The government of Nigeria has stated that it has no immediate plans to access a $50 billion financial support facility offered by the International Monetary Fund (IMF) to assist economies facing economic difficulties. Nigeria’s Minister of Finance and Coordinating Minister for the Economy, Wale Edun, made this known during a press briefing at the ongoing

The International Monetary Fund (IMF) has warned that rising transportation expenses are intensifying the cost-of-living crisis in Nigeria, as higher logistics costs continue to push food prices upward while limiting the government’s ability to respond through fiscal measures. The warning was issued during the 2026 Spring Meetings of the International Monetary Fund and the World

The government of Nigeria has announced the introduction of a green tax surcharge on high-engine vehicles, imposing a levy of between 2% and 4% as part of its 2026 fiscal policy measures scheduled to take effect from July 1, 2026. According to a government circular obtained by Reuters, the policy forms part of broader fiscal

Nigeria’s headline inflation rate increased to 15.38% in March 2026, up from 15.06% recorded in February, according to the latest data released by the National Bureau of Statistics (NBS). The figures indicate a renewed uptick in price pressures, with both annual and monthly indicators showing rising costs across several sectors of the economy. While inflation

The Centre for the Promotion of Private Enterprise (CPPE) has warned that Nigeria’s current inflation pressures are largely cost-push driven, citing rising energy prices, logistics bottlenecks, and structural inefficiencies as the main drivers. The position was outlined in a policy brief released after the latest inflation figures published by the National Bureau of Statistics (NBS).

Nigeria’s gig economy has expanded to an estimated $5.17 billion, with ride-hailing platforms playing a major role in creating flexible income opportunities across the country. This was revealed in a new report commissioned by Bolt and conducted by Ipsos, which was unveiled in Lagos on Tuesday. The study, which examined gig work trends across Nigeria,

The International Monetary Fund (IMF) has revised Nigeria’s economic growth forecast for 2026 downward to 4.1%, reducing its earlier projection of 4.4% by 0.3 percentage points amid mounting global and domestic economic pressures. The updated outlook was disclosed during a media briefing for the launch of the April 2026 Global Financial Stability Report, monitored by

Nigeria’s cash liquidity cycle showed signs of gradual normalisation in February 2026, as currency held outside banks declined slightly to ₦5.20 trillion, reflecting easing demand for physical cash after the year-end spending surge. According to data from the Central Bank of Nigeria (CBN), cash outside the banking system fell by 0.058% in February, while the

Youths in Lagos State contribute an estimated N4.5 trillion annually to the state’s Gross Domestic Product (GDP), according to Governor Babajide Sanwo-Olu. The governor disclosed this on Monday at the Abuja Dialogue, held in Abuja and organized by the Office of the Vice President of Nigeria in collaboration with the Lagos State Government. The event,