Economy

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,

Exchange Traded Funds (ETFs) listed on the Nigerian Exchange Limited recorded mixed performance in the week ended April 10, 2026, with the SIAML Pension ETF 40 dropping 26% to close at N10,350, leading losses across the market. Data compiled from NGX trading activity shows that both trading volume and transaction value declined week-on-week, reflecting weaker

Nigeria’s mutual fund industry expanded to N8.44 trillion in March 2026, reflecting a 2.38% month-on-month increase from N8.24 trillion recorded in February, according to industry data released by the Securities and Exchange Commission (SEC). The data, which tracks fund performance and investor participation across the sector, highlights sustained investor interest in the market, supported by

The Nigerian All-Share Index closed Monday’s trading session in positive territory, rising to 204,458.9 points on April 13, 2026, marking the first time the index has crossed the 204,000 level in the history of Nigeria’s equities market. The gain represents a 0.34% increase from 203,770.4 points recorded in the previous trading session, highlighting sustained investor

SUNU Assurances Nigeria Plc has launched a N2.08 billion rights issue aimed at strengthening its capital position and expanding business operations, offering existing shareholders the opportunity to increase their stakes in the company. The development was confirmed in a release on Monday, April 13, 2026, which revealed that the offer had received approval from the

The Federal Government has announced the removal of import duties on electric vehicles, mass transit buses, and manufacturing machinery as part of new fiscal measures designed to reduce inflation and ease economic pressure on Nigerians. The policy was disclosed in a statement shared on X by Dada Olusegun, who explained that the changes form part

The Centre for the Promotion of Private Enterprise (CPPE) has criticised a recommendation by the World Bank suggesting that Nigeria increase imports of petroleum products and food to address supply shortages. According to the organisation, such a policy could undermine the country’s efforts to achieve energy self-sufficiency and strengthen its domestic refining capacity. The position

The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing individual annual income tax returns to April 21, 2026, following increased activity on its electronic tax filing platform. The agency announced the extension in a statement signed by Monsurat Amasa-Oyelude on Friday, explaining that the decision was made to accommodate the growing