Nigerian economy

Naira settles unchanged in black market, gains ₦11.77 at official forex market.

Instead, Tinubu touts Naira based crude sales as a way of reducing foreign exchange dependency.

The NLC condemns IMF and World Bank’s influence on Nigeria’s subsidy removal, calling it harmful and urging for economic autonomy

The Central Bank of Nigeria has tightened liquidity by mopping up N7.6 trillion, aiming to curb inflation and stabilize the naira, though business growth may be impacted.

Inflation is gradually easing and foreign reserves improved as the Central Bank of Nigeria (CBN) said Nigeria’s foreign reserves rose to $39.12 billion as of 11th Oct 2024, a 12.74 …

The naira has already depreciated 43 percent year to date, according to the World Bank, ranking among the worst performing currencies in Sub-Saharan Africa

Atiku Abubakar criticizes President Tinubu over his handling of the fuel subsidy crisis, attributing Nigeria’s worsening economic conditions to government mismanagement.

Aliko Dangote has called on the Nigerian government to end the fuel subsidy, arguing that it is no longer sustainable and hinders national development.

According to MAN, this is due to the fact that Nigeria’s manufacturing sector is currently operating below 50 percentage due to lack of coherent policy direction from the federal government.

Public outrage over Nigeria’s fuel price hike surges as political groups demand an immediate rollback, warning of increased economic hardship for millions.