Nigeria’s economy grew at the fastest rate in a decade last year, the World Bank said Monday, thanks to the reforms introduced by the government, but it warned inflation remains high.
The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, has disclosed that Nigeria is set to receive telecommunications equipment and fibre optic infrastructure worth $3 billion in June 2025.
The Nigerian Upstream Petroleum Regulatory Authority (NUPRC) says the country’s oil production increased to 1,485,700 barrels of oil per day (bpd) in April.
The Central Bank of Nigeria (CBN) raised its total Treasury Bills Primary Market Auction offer to N550bn, up from N400bn in the previous auction. The offer covers the 91-day, 182-day, and 364-day tenors.
A continued shortfall in crude oil supply to domestic refiners has kept the capacity utilisation of refineries at just 57.8 per cent, leaving over 42 per cent of Nigeria’s installed refining capacity idle.
Nigeria’s total public debt rose by N57.3tn within the first 18 months of the current administration, according to an analysis of data released by the Debt Management Office.
