Nigeria Exports N58.65b Electricity in Q1 2024 In the First Quarter 2024 Q1, Nigeria exported N58.65 billion electrical energy to African countries. The National Bureau of Statistics (NBS) made this known in its document titled: “Foreign Trade in Goods Statistics (Q1 2024).” A section of the report...

$2.25b World Bank Loan Offers Hope for Economic Recovery The Federal Government of Nigeria has secured $2.25 billion in funding from the World Bank, comprising two key financial operations aimed at economic stabilisation and support for vulnerable populations. Key details of the facility include a 40-year...

International Customs Day: FG seeks Partnership on $24.9tr Global Maritime Trade The Federal Government has solicited collaboration from stakeholders towards enhancing the country’s economy by tapping into the maritime sector, valued at over $24 trillion, while supporting 90 per cent of global trade and generating...

Headline Inflation Surges to 33.95% in May Again, Nigeria’s inflation rate increased to 33.95 per cent in May 2024 according to the latest data from the National Bureau of Statistics. This represents a month-over-month increase of 0.26 per cent points in the headline inflation rate from...

Naira Depreciates by 215% in One Year Since the harmonisation of the foreign currency market segments in Nigeria one year ago, the naira has depreciated by about 214.64 per cent against the dollar. At the close of trade on Friday, the naira stood at N1482.72 to...

Food Inflation Soars by 61% in One Year – NBS Nigerians are finding it more difficult to feed themselves, as food inflation rose to 40.66 per cent in May. This was as the cost of food rose by 61 per cent from 25.25 per cent in...