Nigeria, Other African Oil Exporters’ll Lose $34bn – IMF   The impact of the COVID-19 pandemic is estimated to cost Nigeria and other oil exporters in Africa a total of about $34bn in revenue. According to the International Monetary Fund, the projected decline in revenue is attributable...

IMF Advises Nigeria To Slow Down On Tax Drive     The International Monetary Fund (IMF) has urged Nigeria to slow down on its aggressive tax drive due to the impact of the COVID-19 on businesses and households. The fund, however, told the federal government to continue to...

COVID-19: Nigeria, Ghana, Others Need $110bn - IMF     The International Monetary Fund on Monday said there was urgent need for international financial support to Nigeria and other Sub-Saharan countries of Africa, as the nations need $110 to manage the impact of COVID-19 pandemic. In its report...

IMF Further Reduces Nigeria’s Growth Rate By 5.4%     The International Monetary Fund has downgraded Nigeria’s 2020 growth projection, saying the economy will shrink by 5.4 per cent. The IMF had in April 2020 projected that the country’s economy would contract by 3.4 per cent this year. The...

Nigeria’s Fiscal Crisis Due To Low Revenue, Says IMF     The International Monetary Fund has said Nigeria’s major fiscal challenge is its “very low revenue” and not so much of its debt profile. The low revenue, it explained, had led to low debt-servicing capacity and limited funding...

Naira Depreciates By N24 To N385/$     The Naira depreciated by N24 to close at N385 per dollar on Thursday at the official market. It had exchanged at N361 to a dollar on Wednesday as demand pressure intensified. The pressure on the Naira was heightened after news...