The Naira’s Struggle Against the Dollar: What It Means for Nigeria’s Economy It’s no surprise that this week has seen the Naira stumble once again against the ever-powerful dollar in the official foreign exchange market. On Wednesday, we watched as the Naira slipped to a troubling N1,534.44 for every dollar, marking a notable drop…
The Nigerian economy is estimated to have expanded by approximately 3.7% in the first half of 2025, fueled by improved business conditions and a rise in crude oil production. This information was revealed in a report from the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI), compiled by S&P Global and released on Tuesday. Muyiwa…
The Federal Government reiterated its commitment to rebuilding confidence in the Nigerian economy, urging banks and financial institutions to support current economic initiatives. During the 17th Annual Banking and Finance Conference held by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja, the government detailed its implementation of both short-term and long-term strategies aimed…
Financial experts and economists have informed President Bola Ahmed Tinubu that Nigeria’s 3.19 percent growth in Gross Domestic Product (GDP) for the second quarter of 2024 does not accurately represent the living conditions of its citizens. This statement follows the National Bureau of Statistics’ announcement on Monday, which revealed that the services sector propelled Nigeria’s…
The Central Bank of Nigeria has disclosed that it is targeting a $1 trillion economy by 2030 while re-stating its commitment to ensure economic stability. The governor of the apex bank, Olayemi Cardoso, gave this disclosure on Friday in Abuja while presenting the 2024 half-year report of activities of the bank to the Senate Committee…
