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Tag: nigeria’s

Guinness Nigeria's board director Gbadegesin steps down
Appointments

Guinness Nigeria’s board director Gbadegesin steps down

Guinness Nigeria has announced the resignation of its director, Mrs Tariye Gbadegesin’s from the board. The PUNCH revealed that this is according to a statement signed by Guinness Nigeria’s Legal Director/Company Secretary, Mrs Abidemi Ademola, and the resignation is effective February 24, 2024. It added that Gbadegesin’s departure was consistent with the terms of her recent […]

NNPCL fuel subsidy gains not fully remitted - World Bank
Economy

W’Bank predicts 3.7% growth for Nigeria’s economy in 2025

The World Bank’s recent report, “Global Economic Prospect: Subdued Growth, Multiple Challenges,” estimated that Africa’s largest economy will grow by 3.3%, up from 2.9% in 2023. According to the research, “Growth in Nigeria is projected to be 3.3% this year and 3.7% in 2025—up 0.3 and 0.6 percentage points, respectively, since June—as macroeconomic reforms gradually […]

Equity market loses N92bn as stocks tumbles
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Nigeria’s stock market crosses 90,000 mark

Nigeria’s stock market is now the greatest in the world, according to a strong close on Wednesday that helped it overcome Argentina, which it trailed last week. BusinessDay reported that the Nigerian Exchange Limited All Share Index climbed 2.38 per cent on Wednesday, reaching the 90,000 mark as bulls dominated trading. The market is up 20.45 per […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

Nigeria’s crude oil production hits 1.4mbd – OPEC

A report published by the Organization of Petroleum Exporting Countries, has revealed that Nigeria’s crude oil production will increase to 1.418 million barrels per day in December 2023. The PUNCH reported that Nigeria’s crude oil output grew by 100mb/d from 1.319mbpd in November, according to secondary sources cited by OPEC in its Monthly Oil Market Report for […]

Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises.
Business

Nigeria’s Inflation hits 28.92% amid food price hike

Nigeria’s headline inflation jumped by 0.72 per cent to 28.92 per cent in December 2023, up from 28.20 per cent in November 2023, according to a report released on Monday by the National Bureau of Statistics. This is the highest level of average cost of goods and services since 1997, when the late General Sani […]

Nigeria's economy to grow by 0.1% in 2024 — UN
Business News

Nigeria’s economy to grow by 0.1% in 2024 — UN

The United Nations has projected that the Nigerian economic growth to rise from 3.0% in 2023 to 3.1% in 2024. However, there are certain things that depend on the growth. The UN research indicates that Nigeria’s GDP may grow in 2024 as a result of its aggressive stance against climate change and internal oil refining. […]

Nigeria's per capita income to hit pre-COVID level 2025 - W'Bank
featured News Tech

Nigeria’s per capita income to hit pre-COVID level 2025 – W’Bank

Nigeria’s per capita income is expected to reach its pre-pandemic level by 2025, according to World Bank projections. “Growth in Nigeria is projected at 3.3 percent this year and 3.7 percent in 2025—up 0.3 and 0.6 percentage points, respectively, since June—as macro-fiscal reforms gradually bear fruits. The baseline forecast implies that per capita income will […]

featured Opinion

Nigeria’s budgeting process lacks clarity, discipline – Expert

The founder of Budget, a fiscal transparency platform, Seun Onigbinde, has criticized the Nigerian government’s budgeting process, saying it lacks clarity, discipline, and performance-driven planning.   In an interview with Arise News on Saturday, Onigbinde said that the 2023 budget, which was passed into law under the previous administration, had no clear information on how […]

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