Railway Debt Servicing Surpasses Revenue in Q1 2024 by Over 2,000% Nigeria spent more on servicing the debt incurred for building its railways than the revenue generated by its railway system in the first quarter of 2024. The country spent 2,470% per cent more on railway...

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...

Nigeria’s Trade Balance Rises to $1.43bn, IMF Reports Nigeria’s current account balance has increased to $1.432 billion in 2024 despite the economic downturn ravaging the country, data from the International Monetary Fund’s World Economic Outlook shows. The IMF data indicates a posi­tive outlook for Nigeria’s econom­ic...

Nigeria’s Economy to Hit $1.85tn by 2029, IMF Predicts  The International Monetary Fund has predicted that Nigeria’s economy will reach $1.85tn by 2029, in Purchasing Power Parity terms. This forecast suggests a significant growth trajectory for the country’s economy over the next five years. According to the...

Despite Economic Downturn Nigeria’s Current Trade Balance Rises to $1.43bn Nigeria’s current account balance has increased to $1.432 billion in 2024 despite the economic downturn ravaging the country, data from the International Monetary Fund’s World Economic Outlook shows. The IMF data indicates a positive outlook for...

Nigeria’s GDP Grows by 2.98% in Q1 2024 – NBS The National Bureau of Statistics (NBS) says Nigeria’s gross domestic product (GDP) grew by 2.98 percent in the first quarter (Q1) of 2024. The growth rate, the bureau said, is higher than the 2.31 percent recorded...