Nigeria’s Inflation Rate to Drop to 15.5% in 2025, IMF Forecasts
The International Monetary Fund (IMF) has foreseen a decline in Nigeria’s inflation rate to 23 percent in 2024 and 15.5 percent in 2025.
Daniel Leigh, IMF’s Division Chief of Research Department, hinted on this...
Naira Appreciates to N1,419/$ at FX Market
The naira has recovered against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the country’s official window, on Monday.
Naira rose by 1.06 percent to close at N1,419.86 to a dollar — from N1,435/$ recorded at the...
TCN Upgrades Transformers as National Grid Stabilise at 3000MW
The national power grid stabilised on Monday as electricity generation revolved around 3,000 megawatts and 3,707.91MW between 1am and 8pm on the same day following the collapse of the grid on Sunday.
It was reported reported that...
AfDB Begins Disbursement of $540 million for SAPZs Initiative
African Development Bank (ADfB) has commenced the first phase of the disbursement of $540 million Agro-Industrial Funds for the development of Special Agro-Industrial Processing Zones (SAPZs) in the country.
The Senior Special Adviser on Industrialization to the...
CBN Reveals Action Plan to Revive Economy
The governor of Central Bank Nigeria (CBN), Olayemi Cardoso, has highlighted some action plans the apex bank wants to embark on in order to help boost the economy.
Cardoso highlighted some of the plans in his interview with Arise...
$2.4bn FX Backlog Was Marred by Infractions, CBN Governor Says
The governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that about $2.4bn of the $7bn foreign exchange backlog he met when he got into office were from non-existing entities, requests without...
