Category: Economy

CBN loans to farmers hit N1tn amid high default rate

The total amount disbursed under the Anchor Borrowers Programme of the CBN rose to N1.01tn...

Insecurity, naira devaluation drive wheat imports to N1.3tn

Importation of durum or pasta wheat into Nigeria has continued to skyrocket, rising from N730.9...

Food prices surge by 42% in 12 months –NBS

Selected food prices recorded an increase of 42 per cent in one year, figures by...

CBN raises interest rate to 13%

The Central Bank of Nigeria on Tuesday announced that it has raised the interest rate...

Nigeria’s GDP rose by 3.11% in Q1 2022 – NBS

The National Bureau of Statistics on Monday revealed that Nigeria’s Gross Domestic Product rose by...

IMF warns Nigeria to fix weak labour market

The International Monetary Fund has warned Nigeria and other emerging economies to promptly repair their...

Forex inflow falls by 37% in one month -CBN

The foreign exchange inflows into the country fell by 36.7 per cent in one month...

Inflation hits 16.82%, surpasses IMF 2022 projection

The Consumer Price Index rose to 16.82 per cent in April from 15.92 per cent...

Nigeria spends 86% of revenue on debt servicing, South Africa pays 20%

Nigeria spent 86 per cent of its revenue on servicing debt in 2021, but South...

Commodity prices’ll remain high in Nigeria, others – World Bank

The World Bank has said that the war in Ukraine has dealt a major shock...

Workers in formal sector earn N159tn in four years – NBS

Employees in Nigeria’s formal sector earned N159.01tn from 2018 to 2021, according to data from...

Nigeria, 10 ECOWAS countries in debt distress – Report

A new report by the Nigerian Economic Summit Group and the Open Society Initiative for...

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