In Three Years, Diaspora Nigerians Remit $60.22bn - World Bank The World Bank and Budget Office of the Federation data has revealed that Nigerians in Diaspora remitted $60.22bn in the three years to boost economic activities and the nation’s external reserves. The World Bank noted that...

Nigeria to Spend 100% of its Revenue on Debt Servicing by 2026 - IMF  The International Monetary Fund (IMF) has projected that Nigeria may spend almost 100 percent of its revenue on debt servicing by 2026. Ari Aisen, IMF’s resident representative for Nigeria, says this while...

IMF Warns Nigeria, Fuel Subsidy May Hit N6trn In 2022 The International Monetary Fund (IMF) has warned that the total expenditure on subsidy might hit a record N6 trillion by the end of the year with Nigeria’s fuel subsidy payout averaging N500 billion per month. According...

NBS: Inflation Rises 16.82%, Exceeds IMF’s 2022 Projection The National Bureau of Statistics latest report indicates that the Consumer Price Index rose to 16.82 per cent in April from 15.92 per cent in March. The NBS disclosed this in its ‘Consumer Price Index April 2022’ report...

IMF to Nigeria: Reduce Public Debt To Avoid "Doom Loop" International Monetary Fund has expressed concerns about a potential “doom loop” for Nigeria and other emerging economies. According to the IMF’s April 2022 Global Financial Stability Report, the average ratio of public debt to the gross...

Foreign Reserves Shed $975.7m Year-to-date   Nigeria’s foreign reserves continued its downward slope, a trend formed towards the end of last year after it failed to sustain a momentary recovery witnessed in October. The gross figure, which has remained a consistent gradual depletion in the past five...