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...

UN Seeks $4.7bn for Humanitarian Response in Nigeria, Six Others The United Nations Office for the Coordination of Humanitarian Affairs (OCHA) has said that humanitarian partners will need $4.7bn to assist 20.9 million vulnerable people in parts of Nigeria, Chad, and five other African countries. This...

Nigeria-Taiwan Trade Drops by $500m – Envoy The Chief of Mission to the Taiwanese Government in Nigeria, Andy Liu, has disclosed that the value of trade between Nigeria and Taiwan was halved to $500m in 2023, from $1bn in 2021. Liu stated this recently in Lagos...

Nigeria, Ghana get $1m to support SMEs, innovation Impact Investing Ghana (IIGh) and Impact Investors Foundation (IIF) Nigeria have received a US$545,256 additional grant funding from The Research and Innovation Systems for Africa (RISA) Fund to scale sustainable systems for enterprise and innovation financing across...

Nigeria Oil Output Drops 6.8% to 1.23 mbpd as Libya Emerges Africa's Highest Producer Libya has emerged as the highest crude oil producer in Africa following the drop of Nigeria’s output by 6.8 per cent to 1.23 million barrels per day in March 2024, from...