The Nigeria’s nominal GDP (that’s just the total value of stuff the country churned out, without fiddling with inflation or anything) hit N100.73 trillion for Q2 of 2025. That’s up from N94.05 trillion last quarter. Not too shabby, right? Real GDP, though, after adjusting for price changes, sat at N51.20 trillion. Now, the National Statistics…
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…
According to the National Bureau of Statistics (NBS) in its recently published rebased data, Nigeria’s gross domestic product (GDP) increased by 3.13 percent in real terms during the first quarter of 2025 (Q1 2025), up from 2.27 percent in Q1 2024. The Statistician General, Prince Adeyemi Adeniran, announced this in Abuja, explaining that after the…
Nigeria has seen a notable decrease in its headline inflation for June, dropping to 22.22%, down from 22.97% in May 2025. This information comes from the latest Consumer Price Index and Inflation Report released by the National Bureau of Statistics (NBS) on Wednesday. This new figure indicates a month-on-month decline of 0.75% in Nigeria’s overall…
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 Nigerian government, through the Presidential Compressed Natural Gas Initiative (PCNGI), has announced the establishment of 65 CNG stations across the country. This initiative coincides with the launch of a new gas pricing framework aimed at making compressed natural gas more accessible and affordable for Nigerians. Michael Oluwagbemi, the Chief Executive of PCNGI, shared this…
The Central Bank of Nigeria (CBN) has announced that the country’s external reserves rose by 5.6%, or approximately $2.2 billion, reaching a total of $38.8 billion in 2024. This information was revealed in the CBN’s recently published consolidated and separate financial statements for the year ending December 2024. The increase marks a notable rise in…
Nigeria’s external debt service obligations reached $1.08 billion in the fourth quarter of 2024, marking a notable increase from the previous quarter. This information was revealed by the Debt Management Office (DMO) in its latest report. According to earlier data from the DMO, Nigeria’s total debt service costs rose to N3.57 trillion in the third…
By Ajibola Olarinoye Introduction Modern business operates at a rapid rate where technology stands as a fundamental requirement for enterprise success. The operational framework of businesses transformed through Artificial Intelligence (AI) technology which delivers innovative solutions for better operational productivity. The implementation of AI technology by Nigerian business operators between eighteen and thirty years old…
President Donald Trump has announced that a 14% tariff will be applied to exports from Nigeria to the United States. This decision, revealed during a “Make America Wealthy Again” event in the Rose Garden on Wednesday, is part of a broader strategy to rebalance global trade and address perceived unfair trade practices. The introduction of…
