IMF, World Bank Wrong on Nigeria Poverty Data: Expert
Tope Fasua argues that IMF and World Bank poverty data for Nigeria is flawed, citing outdated statistics and ignoring local realities.
Category : Economy
Nigeria's Oil Output Exceeds OPEC Quota in May, Hits 15-Month High
Nigeria produced 1.53 million bpd of crude oil in May, surpassing its OPEC quota of 1.5 million bpd, marking the highest output in 15 months and reaffirming its top producer status in Africa.
Nigeria's Energy Transition: From Oil to Renewables
Nigeria must diversify from oil, leveraging renewables for job creation and economic sustainability, as the global energy transition offers a strategic opportunity for growth.
Nigeria non-oil exports up 21%, 1,000 SMEs certified
President Tinubu announced Nigeria's non-oil exports grew 21% in 2024, with over 1,000 SMEs certified for export, as part of economic diversification efforts.
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How Lagos Built Nigeria's Most Competitive Economy
Lagos leads Nigeria's economy due to decades of reforms, infrastructure, innovation, and institutional continuity, as per the latest Phillips Consulting State Performance Index.
Minimum Wage Debate: N215,997 Proposed Amid Economic Woes
As Nigeria prepares for minimum wage talks, labour proposes N215,997 based on dollar parity, while employers warn of economic realism. Structural hurdles persist.
Capital Inflows Signal Confidence Recovery, Not Hot Money
A response to criticism of Nigeria's capital inflows argues that portfolio investments are a normal first stage of confidence recovery, not speculative hot money, citing economic history and reforms under President Tinubu.
Mapping Deprivation: Inside Sokoto's Poverty Blueprint
Governor Ahmed Aliyu's Sokoto State unveils a localized Multidimensional Poverty Index survey, shifting from assumptions to data-driven governance for targeted economic liberation.
UK, Nigeria Launch £15m Programme to Boost Growth
The UK and Nigeria have launched a £15 million growth programme to attract investment, support reforms, and accelerate economic expansion in Nigeria.
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Nigerian Stocks Slip as Investors Book Gains Before Holiday
Nigerian equities market extended losses on Thursday as profit-taking hit banking, consumer goods, and oil stocks. The ASI fell 0.05%, erasing N72.74 billion in market value.
Oshiomhole's NNPC Attacks May Hurt Nigeria Investment Drive
Energy expert Dr Adeyemi Adegbola warns that unverified allegations against NNPC by Senator Oshiomhole could damage Nigeria's investment reputation and discourage foreign capital.
Nigeria Launches Rev360 to Track Tax Compliance
Nigeria unveils Rev360, a digital platform to improve tax compliance, simplify payments, and identify defaulters. The NRS says it modernizes tax administration.
Guardian Cartoon: Nigeria's Economic Woes in 2023
A Guardian cartoon highlights Nigeria's economic struggles in 2023, depicting inflation, debt, and currency depreciation as major concerns.
Nigeria's Oil Output Hits 1.53mbpd as OPEC Sees Gains
Nigeria's crude oil production rose to 1.53 million barrels per day in May 2026, according to OPEC, signaling recovery amid improved economic outlook and reforms.
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World Bank cuts Nigeria 2026 growth forecast to 4.1%
The World Bank has downgraded Nigeria's 2026 growth projection to 4.1% from 4.4%, citing structural constraints despite higher oil prices. Sub-Saharan Africa's outlook was also trimmed.
LPG Prices Surge 800% in Decade as Nigeria Exports Over 60% Gas
Nigeria's cooking gas prices have soared over 800% in ten years, from N250/kg in 2016 to over N2,000/kg now, despite holding Africa's largest gas reserves, as over 60% of production is exported.
Tinubu Restates FG, States Collaboration on Investment Barriers
President Tinubu reaffirms commitment to collaborating with states to reduce investment barriers, citing policy inconsistencies, regulatory inefficiency, and poor infrastructure.
Trump threatens to bomb Iran: Fuel price impact
Donald Trump threatens to bomb Iran after a peace wish, risking oil shocks. Brent crude surges past $93, threatening fuel prices and inflation in Nigeria.
Dollar Crashes, Naira Trades at New Rates, Reserves Top $50bn
The US dollar faces renewed pressure as inflation surges, while Nigeria's naira slips despite reserves climbing above $50 billion. Experts warn the growth may be short-lived.
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CBN Survey: Nigerian Businesses Optimistic, Naira Seen Rising
A CBN survey reveals improved business confidence across all sectors in Nigeria, with expectations of naira appreciation, though employment outlook remains negative.
Shettima: Lagos Produced Africa's Richest Billionaires
Vice President Kashim Shettima says Lagos was key to building fortunes of Aliko Dangote and Abdul Samad Rabiu, contributing 30% of Nigeria's GDP and hosting five of Africa's nine unicorn startups.
Aliko Dangote Richer Than Five African Nations, Net Worth $36.5bn
Aliko Dangote's net worth hits $36.5 billion, surpassing GDPs of Rwanda, Botswana, Benin, Burkina Faso, and Mali. His refinery drives wealth surge.
NGX Extends Gains, Market Value Up N99bn
Nigerian equities market extended gains as renewed buying interest in large- and mid-cap stocks increased market capitalisation by N99.15 billion on Wednesday.
Tinubu Seeks Tax Compliance, Obi Questions Revenue Surge
President Tinubu calls for tax compliance to fund infrastructure, while Peter Obi questions revenue transparency. Meanwhile, CBN surveys show improved business confidence amid inflation concerns.
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FG Pays 1,240 Contractors to Clear Verified Debts
The Federal Government has paid over 1,240 contractors with verified claims of N100 million or less, prioritizing small businesses to provide liquidity and restore confidence.
Nigeria Q1 2026 Trade: N34.8 Trillion, N7.5 Trillion Surplus
Nigeria's merchandise trade hit N34.8 trillion in Q1 2026, with exports at N21.2 trillion and imports at N13.6 trillion, yielding a N7.5 trillion surplus driven by crude oil sales.
IMF: CBN May Need to Sterilise FX Inflows for Inflation Control
The IMF advises Nigeria's Central Bank to sterilise foreign exchange inflows from rising oil prices to prevent inflation, while commending current tight monetary policy.
Cartoon: Nigeria's Economic Struggles in Satirical Illustration
A satirical cartoon highlights Nigeria's economic challenges, including inflation, unemployment, and currency devaluation, with symbolic imagery.
Economic Hardship Persists Across Africa Despite Recovery
Afrobarometer report reveals most Africans face economic hardship, with high unemployment and cost of living despite modest post-pandemic recovery signs.
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52.9m Nigerians Face Acute Food Insecurity, Says World Bank
World Bank warns 52.9 million in Nigeria, West and Central Africa face acute food insecurity due to Middle East conflict, rising fertilizer costs, and supply disruptions.
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