Nigerians are facing hard times — Akpabio tells senators
The Senate President, Godswill Akpabio, has admitted that many Nigerians are going through difficult times. He spoke on this while welcoming fellow senators back from their break. In his speech titled “Rising to Nigeria’s Moment”, Akpabio said Nigeria’s economic troubles are testing people’s patience. He asked his fellow lawmakers to approach their duties with wisdom […]
CBN’s Gold Reserves Gain Over N1 Trillion In 2024 As Prices Hit Record Levels
The Central Bank of Nigeria (CBN) reported a significant rise in its gold reserves in 2024. By the end of December 2024, the value of its gold holdings reached N2.77 trillion, up from N1.28 trillion at the close of 2023. This growth was primarily due to a sharp increase in global gold prices. While the […]
Stop demarketing Nigeria – PDP chieftain tells Peter Obi
A top member of the Peoples Democratic Party (PDP), Segun Sowunmi, has advised Peter Obi, the 2023 Labour Party presidential candidate, to stop speaking negatively about Nigeria, especially when attending events abroad. Sowunmi shared his opinion after Peter Obi made a post on X (formerly Twitter) where he compared Nigeria’s economic progress to that of […]
Nigeria’s Economic Outlook Marked By Significant Uncertainty – IMF
The International Monetary Fund (IMF) has said that Nigeria’s economy is still facing a lot of uncertainty, even though the country has made some important reforms. After meeting with top Nigerian officials for their 2025 Article IV Consultations, the IMF team, led by Axel Schimmelpfennig, praised Nigeria for trying to fix its economy. They said […]
Despite rebase, Nigeria’s inflation rate rises to 24.23%
Nigeria’s inflation rate has gone up again, reaching 24.23% in March 2025. This comes after a few months of stability. The National Bureau of Statistics (NBS) shared this news in its Consumer Price Index (CPI) report released on Tuesday. In February 2025, the inflation rate was 23.18%, so the March number shows a clear rise. […]
President Tinubu is best father to Seyi, but worst president of Nigeria – Eedris Abdulkarim
Nigerian rapper and activist Eedris Abdulkareem has made headlines with his new song Tell Your Papa. He says the song is not meant to insult President Tinubu’s son, Seyi, but to respond to Seyi’s public praise of his father. In March 2025, Seyi Tinubu called his father “the greatest president in Nigeria’s history” at an […]
Crude oil sales in Naira will continue – FG
The Federal Government of Nigeria has confirmed that it will continue selling crude oil and refined products in Naira. This decision is part of a long-term plan to help the country’s economy by reducing its dependence on foreign exchange and improving local refining. The confirmation was shared on April 9 via the Federal Ministry of […]
Naira records highest depreciation against dollar amid Trump’s tariff war
This week, the Nigerian naira experienced its biggest drop against the US dollar at the official exchange market. The Central Bank of Nigeria (CBN) reported that the naira fell to N1,552.53 per dollar on Thursday, down from N1,531.25 on Wednesday. This represents a N21.28 drop in just one day, the largest single-day decline since March […]
Investors regaining confidence in Nigeria – Cardoso
Nigeria is gaining back the trust of investors, according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. He pointed out that recent visits from top executives of JP Morgan, Citi Bank, and the International Monetary Fund (IMF) show that confidence in the country’s economy is growing. Speaking at a meeting with […]
Hardship: Nigeria’s inflation drops signal economic recovery – CPPE, Economists
Nigeria’s inflation rate has dropped for the second time in a row, leading some economists to believe the country’s economy is starting to recover. According to the National Bureau of Statistics (NBS), inflation fell to 23.18% in February 2025, down from 24.48% in January. Food inflation also declined from 26.08% to 23.51%. Despite this positive […]