Nigeria Spends N1.47trn On Petrol Imports In Six Months         The amount spent on the importation of Premium Motor Spirit (petrol) in the first half of this year jumped to N1.47tn, which is more than 73 per cent of what was incurred in the whole of...

Nigeria’s Foreign Trade Deficit Drops To N1.9trn       Nigeria’s foreign trade deficit narrowed by 110.9 per cent to N1.87 trillion in the second quarter (Q2) compared with the first quarter on account of an increase in the value of oil export. According to foreign trade data released...

Nigeria Could Save $432.6m In Debt Service Suspension – W/Bank       The World Bank has disclosed that Nigeria could save about $432.6m from May 2020 to December 2021 through the debt service suspension initiative. It disclosed this in a brief on COVID-19: Debt Service Suspension Initiative updated...

Economic Growth May Regress If We Don’t Borrow — Ahmed       The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the 5.01 percent Gross Domestic Product (GDP) growth recorded in the second quarter of 2021 will regress if the federal government does not...

Nigeria Entitled To $3.35bn In Fresh IMF Rights Allocation       The Managing Director of the International Monetary Fund, Ms Kristalina Georgieva, has said that the organisation begun allocating Special Drawing Rights of about $650bn on Monday. This was contained in a press statement on the IMF website...

FDC Forecasts 2.6% GDP Growth For Nigeria In Q2       Financial Derivatives Company Limited has said the Nigerian economy is expected to grow by 2.6 per cent in the second quarter of this year, up from 0.51 per cent in Q1. Analysts at Lagos-based FDC, led by...