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NIGERIA’s higher crude oil production is expected to cushion the impact of weaker global oil prices in the near term, helping to support government revenues and strengthen the country’s external position, according to the World Bank. The bank said this buffer should help protect the economy from external shocks as authorities maintain a cautious macroeconomic […]
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By Kingsley Eiguedo Okoeguale Friday, October 24, 2025, marked more than a regulatory milestone for Nigeria; it announced the emergence of a new, credible pillar in the global financial architecture. The declaration from Paris by the Financial Action Task Force (FATF), confirming the removal of Nigeria, South Africa, Burkina Faso, and Mozambique from its ‘grey […]
THE Nigerian Senate on Wednesday opened debate on a bill to amend the Banks and Other Financial Institutions Act (BOFIA) 2020, aiming to give the Central Bank of Nigeria (CBN) clear powers to designate and supervise systemically important non-bank financial institutions, particularly major fintechs whose operations now underpin the country’s financial infrastructure such as Opay, […]
ECONOMISTS have echoed the World Bank’s warning on Nigeria’s rising poverty despite pushback by the government of President Bola Tinubu. The World Bank said in its ‘Nigeria Development Update’ released on Wednesday that though growth had picked up and revenues and reserves rising, poverty was skyrocketing in Africa’s most populous nation. “In 2025 we estimate […]
PRESIDENT Bola Tinubu deserves some flowers for putting policies in place to stabilise the naira and liberalise the downstream petroleum sector. Today, petrol queues have vanished across Nigeria’s fuel stations, and no cabal is milking the nation’s resources by presenting fake documents to steal subsidy funds. Besides, investors are now more confident in the economy […]
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 […]
PRESCO Plc and Okomu have shown that palm oil is no longer the nano business done at the backyard by Iya Bisi or Mama Ebuka. It is now a multi-billion naira business and an investment opportunity for direct investors who wish to tap long-term profits. Presco’s revenue stood at N207.5 billion in the 2024 financial […]
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, […]
NIGERIA’S Minister of Works, Mr David Umahi, says the structural rehabilitation of the Third Mainland Bridge, an 11.8-kilometre span in Lagos State, will cost N3.6 trillion, which is equivalent to over $2.45 billion. However, to build Africa’s longest bridge, known as 6th October Bridge, Egypt spent just 200 million Egyptian pounds in 1996, which was […]
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, […]