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The Facebook GlucoPro groups operate like an informal health marketplace. Seete, the South African woman, became a member after clicking on a Facebook ad that falsely promised a cure for diabetes. She is only one of many people who fall for deceptive ads that prey on vulnerable users. GlucoPro South Africa was created in 2021 […]
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IN just 28 months, President Bola Tinubu has borrowed at least N18.24 trillion more than his predecessor, Mr Muhammadu Buhari, now late, did in his entire 8 years in office, Economy Post‘s tracker has found. In his entire 8 years in Aso Rock, Mr Buhari borrowed N75.26 trillion from various sources, including from China, but […]
NIGERIA now owes domestic and foreign lenders more than half its gross domestic product (GDP), according to data released on Monday by the Debt Management Office (DMO), an agency of the Nigerian government. Nigeria’s debt-to-GDP ratio stood at 52.3 percent as of the end of 2024 as against 41 percent by the end of 2013, […]
CENTRAL Bank Governor, Mr Yemi Cardoso, is constantly being praised locally and globally for stabilising the foreign exchange (FX) market, but there are four key points that are often ignored in all the reviews. The International Monetary Fund (IMF) praised the CBN governor in its Article IV Consultation report. It extolled Mr Cardoso, alongside Nigerian authorities, […]
ZENITH Bank, Nigeria’s largest bank by net income, paid a total of N14.647 billion for various foreign exchange (FX) infractions in 2024. The tier-one bank also paid another N780.25 million for 9 other infractions, Economy Post can confirm. Zenith Bank’s 2024 full-year financial statement shows that the bank paid N14.647 billion to the Central Bank […]
THE Bola Ahmed Tinubu administration has put Nigeria in huge debt as it has borrowed nearly N96 trillion in two years, sending shockwaves among citizens. He has submitted proposals at the National Assembly to borrow nearly N39 trillion from multilateral agencies in one fell swoop, taking the nation’s debt profile to nearly N183 trillion. On […]
DANGOTE Petroleum Industries has reduced the price of premium motor spirit (PMS), also known as petrol, six times in 2025. Several Nigerians have commended him for the price reduction, but Economy Post‘s findings have shown that the commendation is rather misplaced as PMS is cheaper in other oil-producing African nations. In Nigeria, petrol sells for […]
ECONOMISTS are once again raising questions over the integrity of data produced by the National Bureau of Statistics (NBS), particularly its inflation and job figures, stating that they lack some level of credibility. The NBS is a body charged with the computation of national data on inflation, employment, crimes, among others, in Nigeria to aid […]
NIGERIA’S 2025 budget is in danger due to the United States’ President Donald Trump imposition of tariffs on several nations having trade surpluses with the U.S. Of particular interest is Mr Trump’s 104 percent tariff on Chinese goods, which has forced oil prices down by 4 percent, their lowest in at least four years. Brent […]
THE World Bank says the Nigerian government has implemented major reforms which are politically difficult to embark upon. In an article seen by Economy Post, Chief Economist and Senior Vice-President for Development Economics at the World Bank, Mr Indermit Gill, said Nigeria’s economic transformation must be allowed to succeed and any attempt to reverse them […]