'Naira Under Pressure, Nigeria May Seek Dollar Loan'   The International Monetary Fund (IMF) has said the naira is currently under pressure and Nigeria is free to seek loan from the Fund to stabilise the currency if it considers a good option. The Washington-based lender however noted...

Foreign Investments in Manufacturing Hit $861m   Total inflow of foreign investments into the Nigeria’s manufacturing sector increased by 88.17 percent year-on-year (YoY) to $861.16 million in the first half of 2023 (H1’23) from $457.66 million in the corresponding period of 2022 (H1’22). This also indicates 75.47...

Minister: Land Reforms Will Unlock $300bn Dormant Capital   The Federal Government has disclosed plans to unlock over $300bn ‘dead’ capital in the housing sector through a series of reforms in land administration and collaborations with stakeholders. The Minister of Housing and Urban Development, Ahmed Dangiwa, during...

FG Earmarks N3.27trn on Palliatives, Loans   The total spending by the Federal Government on palliatives and loans to cushion the effect of the fuel subsidy removal may hit N3.27tn. The palliatives and loans were meant to cushion the effects of economic hardships on Nigerians and businesses...

IMF Says Inflation Will Slow Nigeria’s Economic Growth to 2.9%   Inflation will slow Nigeria’s economic growth to 2.9 per cent in 2023, the International Monetary Fund (IMF) has predicted. It also downgraded the country’s economic growth prospect by 0.3 percentage points to 2.9 per cent for...

FG Targets More Tax Revenue as Global Rates Rise   The Federal Government has said it will focus more on domestic resources mobilisation with a focus on a more efficient collection of taxes, fees and payments that are due to the government. The Minister of Finance and...