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IMF projects higher prices for essential commodities in Nigeria, as global headline inflation to rise by 4.7%
International Monetary Fund (IMF) has projected that Nigerians will face higher prices for essential goods in 2026, warning that the trend could worsen poverty and food insecurity despite improvements in the country’s macroeconomic stability. The projection is contained in the IMF’s…
Crude oil output up by 2.3% to reach 1.74mbpd, as Nigeria tops OPEC quota for second consecutive month
Nigeria’s average daily crude oil and condensate production rose by 2.3 per cent to 1.74 million barrels per day (mbpd) in June 2026 from 1.70mbpd recorded in May, while crude oil output climbed to 1.56mbpd, enabling the country to exceed its…
World Bank says Nigeria, others accountable for 83% of global gas flaring, as NMDPRA decries energy under-utilisation
World Bank has listed Nigeria, alongside United States, Russia and six other countries as accountable for over 83 per cent global gas flaring in 2025. Nigeria remained one of the world’s largest gas-flaring countries in 2025. This is just as recent…
Despite global unrest, mounting debts, Nigeria’s 2026 growth forecast of 4.1% unchanged — World Bank
World Bank has retained its forecast for Nigeria’s economic growth at 4.1 per cent in 2026 and 4.2 per cent in 2027, even as it expressed concerns over rising sovereign debt levels across developing economies. Disclosing this in its 2026…
Nigeria’s GDP growth rate drops to 3.9%, amid oil, non-oil sectors’ slump
National Bureau of Statistics (NBS) has disclosed that the country’s Gross Domestic Product (GDP) growth rate in real terms declined to 3.89 per cent quarter-on-quarter (QoQ) in the first quarter Q1, 2026 from the 4.07 per cent figure recorded in…
Nigeria’s Feb oil output slips amidst rising prices
Sopuruchi Onwuka Nigeria’s oil production edged lower in February, slipping to an average of 1.46 million barrels per day from 1.49 million in January, a decline of about 30,000 barrels per day. The drop comes at a time when global…
Uk, Nigeria sign landmark £746 million ports deal
Sopuruchi Onwuka The United Kingdom and Nigeria have signed a landmark £746 million ports redevelopment deal, marking one of the largest recent trade and investment partnerships between the two countries and signalling a major push to modernize Nigeria’s maritime infrastructure…
Nigeria enters list of 38 countries to post $15,000 US visa bonds
Frank Okon Nigeria on Tuesday entered the expanded list of countries whose business and tourist visitors must post up to $15000 as precondition for obtaining entry visa to the United States of America. According to the U.S. State Department reimbursable…
Nigeria fights for exit from corruption gray list
Sopuruchi Onwuka Government is working to be removed from a global financial watchdog’s “gray list” of countries under heightened scrutiny after the Financial Action Task Force in February listed Nigeria in the back book for failing to tackle money laundering….
UK, Nigeria ETI launches Creative Industries Technical Working Group
Sopuruchi Onwuka The United Kingdom and Nigeria have officially launched the Creative Industries Technical Working Group to promote Enhanced Trade and Investment Partnership (ETIP) between businesses in the two countries. According to a statement from the UK High Commission in…
