PwC Nigeria has released the Nigerian findings of its 28th Annual Global CEO Survey, offering insights into business leaders’ perspectives across industries. The report highlights optimism, with 61% of Nigerian CEOs expecting global economic growth to improve and 64% anticipating positive shifts in Nigeria’s economy in 2025. Reflecting a commitment to strategic reinvention, 61% have expanded into new sectors over …

The Independent Media and Policy Initiative (IMPI) has questioned the rationale by the International Monetary Fund (IMF) for downgrading its economic growth projection for Nigeria in 2025 from 3.2% to 3% on the back of the global oil slump. This according to the think tank is because the Nigerian economy has not, of late, been solely about oil especially with …

The African Development Bank (AfDB) Group has approved a new five-year Country Strategy Paper for Nigeria, committing about $650 million annually between 2025 and 2030 to drive economic transformation, build resilience, and foster broad-based prosperity. The Bank disclosed this in a statement published on its website on Thursday, saying that $2.95 billion would be provided over the first four years …

The Lagos State Government, through the Ministry of Economic Planning and Budget, has released its budget performance report for the first quarter of 2025, reaffirming its commitment to transparency, fiscal discipline, and efficient public financial management. The report, released through its official website on Thursday, stated that, ‘The Lagos State generated total revenue of N582.45 billion,in Q1 2025, reflecting 79% …

Lagos has received a significant boost to its economic standing as the international ratings agency, Fitch Ratings, upgraded the state’s Long-Term Foreign- and Local-Currency Issuer Default Ratings from ‘B-’ to ‘B’. The announcement, posted on Fitch’s website on Friday, also confirmed similar upgrades for Kaduna, Kogi, and Oyo states, with the outlook for all four rated as stable. This positive …

The International Monetary Fund (IMF) has advised Nigeria to enhance transparency in the oil sector to ensure that the subsidy removal savings are transferred to the government’s budget. The director of the African department at the IMF, Abebe Selassie, gave the advice on Friday while presenting the findings of the Regional Economic Outlook for Sub-Saharan Africa report at the IMF …

Nigeria has officially gazetted and transmitted to the African Continental Free Trade Area (AfCFTA) secretariat, the Economic Community of West African States (ECOWAS) Schedule of Tariff Offers for Trade in Goods under AfCFTA. With agreement, which establishes zero duties on 90% of tariff lines for trade in goods, Nigerian goods are now competitively positioned in the African market, ensuring greater …

Nigeria’s credit rating was upgraded to B by Fitch Ratings, remaining in the speculative-grade category. According to Bloomberg, Fitch citied improved policy credibility and reduced near-term risks to macroeconomic stability as justification for the imrpovement. ‘The upgrade reflects increased confidence in the government’s broad commitment to policy reforms implemented since its move to orthodox economic policies in June 2023, including …

The Director-GeneraI of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala has said that the recent tariffs announced by the United States would have significant implications for global trade and economic growth prospects. On 2 April, President Donald Trump announced sweeping global tariffs on all imports into the US, imposing 14 percent on Nigeria. In a statement on Thursday, Okonjo-Iweala …

In a significant step towards curbing illegal mining, the Mining Marshals have successfully dismantled a heavily fortified illegal mining site in Rafin Gabas, Kokona Local Government Area of Nasarawa State. According to a statement on Thursday by Mr. Segun Tomori, Special Assistant on Media to the Minister of Solid Minerals Development, the site, which had long evaded law enforcement, was …