On Friday, the Chief Economist at SPM Professionals, Paul Alaje, called on the federal government to exercise caution when interpreting advice from global financial institutions like the World Bank and the International Monetary Fund (IMF). The exchange rate is “the elephant in the room.” Everything this administration has accomplished will be lost if the value…
According to Wale Edun, Minister of Finance and Coordinating Minister of the Economy, Nigeria’s increased revenue in the 2024 fiscal year is being strategically distributed to several social intervention programs meant to raise citizens’ standards of living and meet urgent societal demands. According to the minister, the social investment initiative aims to reach 20 million…
After declining steadily in July and August, Nigeria’s headline inflation rate increased to 32.70 percent in September 2024. This was in accordance with the National Bureau of Statistics’ most recent Consumer Price Index data. In September 2024, the World Bank predicted that Nigeria’s inflation rates would continue to grow, primarily due to a notable increase…
The Federal Government’s revenue from Foreign Direct Investment into Nigeria in the second quarter of 2024 dropped to $29.83m. According to the National Bureau of Statistics’ most recent capital importation data, foreign direct investment (FDI) fell by 65.33 percent from $86.03 million during the same time last year. Based on available data up until 2013,…
