ECONOMY- Page 8

In a key political move, Nigeria’s National Council of State has approved the appointment of Professor Joash Ojo Amupitan (SAN) as the new Chairman of the Independent National Electoral Commission (INEC). President

Nigeria Declares End to Economic Instability Vice President Kashim Shettima announced today that Nigeria has officially exited its phase of economic instability, marking what he described as a new era of recovery,

Policy Reforms Bring Growth Momentum Nigeria’s economy is showing renewed strength, according to the World Bank’s October 2025 Economic Update, which credits a mix of reforms for stabilizing key indicators. Yet despite

A Strategic Leap for Nigeria’s Oil Industry Nigeria has taken a significant step to modernize its oil export infrastructure by commissioning the FSO Cawthorne, its first fully Nigerian-owned Floating Storage and Offloading

Nigeria’s Central Bank Governor, Olayemi Cardoso, has announced a 0.5 percentage point reduction in the benchmark interest rate, bringing it down to 27%—the first rate cut in five years. The move follows

Nigeria Secures Second Tranche of AfDB Budget Loan The African Development Bank (AfDB) has confirmed plans to release $500 million in budget support to Nigeria in 2025. This funding forms part of

Nigeria Pursues $2.8 Billion to Plug Fiscal Gap Nigeria is taking decisive steps to strengthen its fiscal position by seeking $2.8 billion in new financing from international markets. The plan includes a

Talks Underway with China’s Exim Bank Nigeria is in talks with China’s Export-Import Bank for a $2 billion loan to build a new super grid. The project aims to reduce chronic power

Nigeria is in talks with China’s Export-Import Bank for a $2 billion loan to build a new super grid that is expected to reduce chronic power shortages which have long hindered economic

The African Development Bank (AfDB) will lend $500 million to Nigeria in 2025 as part of a $1 billion budget support program. The loan aims to strengthen fiscal reforms initiated by President