Naira Exchanges for N1,535/$ in Parallel Market The Naira yesterday depreciated in the parallel market to N1,535 per dollar from N1,520 per dollar on Wednesday. Similarly, the Naira depreciated to N1,520.24 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the...

Capital Importation Hits $3.3b in One Year The National Bureau of Statistics (NBS) said in the first quarter 2024 total capital importation rose to $3.3billion from $1.1million recorded in the first quarter of 2023 (Q1 2023). This was contained in its report titled: “Nigeria Capital Importation...

Nigeria’s Debt to GDP Ratio Surpasses 50% Nigeria’s debt-to-GDP ratio crossed 50% for the first time ever last week after the Debt Management Office published the country’s latest public debt figures. According to the DMO, Nigeria now has a public debt portfolio of N121 trillion, consisting...

The World Bank has affirmed its 3.3 per cent economic growth forecast for Nigeria in 2024 saying the nation’s economy was mildly buoyant in the early part of the year despite macroeconomic adjustments. 

Debt Servicing Gulps $2.2bn in Five Months – CBN Nigeria’s debt servicing gulped about N2.2bn in the first five months of this year, the latest data from the Central Bank of Nigeria (CBN) have revealed. This is almost half of the $4.8bn projected for the entire...

Motorcycle Imports Surge by 204% in Q1 2024 Data from the National Bureau of Statistics (NBS) reveal Nigeria recorded N117.4 billion as import cost for motorcycles in the first quarter of 2024. The figure represents a 204% increase from the N38.6 billion recorded in the same...