The International Monetary Fund (IMF) has commended the Central Bank of Nigeria (CBN) over its monetary policy reforms, which are significantly contributing to the nation’s economic recovery. IMF gave the commendation was its 2025 Article IV Consultation report on Nigeria. The fund commended the Federal Government for bold and politically difficult policies that had improved…
The Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, has urged the Governing Board of National Inland Waterways Authority (NIWA) to maintain clear boundaries between governance and management for operational integrity and efficiency. Oyetola said this during the inauguration of the 11-member board on Wednesday in Abuja. The minister said that the board was…
Chinese President Xi Jinping will not be attending the upcoming summit of the BRICS group of emerging economies, Foreign Ministry spokeswoman Mao Ning announced in Beijing on Wednesday. Prime Minister Li Qiang will travel to this year’s meeting in Brazil, she said. No reason was given for Xi’s absence. The Kremlin has announced that Russia…
The Federal Government has appointed Dr Ayoade Alakija, a globally respected health advocate and Chair of the Board of FIND, as its Ministerial Global Envoy on Antimicrobial Resistance (AMR). The Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, made the announcement on Tuesday in Abuja. Pate said that the appointment was in…
Nigeria is partnering with Australia to address the skills deficit in the mining sector. This announcement was made by Dele Alake, the Minister of Solid Minerals Development, through a statement from his media assistant, Segun Tomori, on Sunday in Abuja. One of the notable outcomes of this partnership is the recent launch of a two-week…
The naira further appreciated on Thursday, trading at N1,553.11 against the dollar in the official foreign exchange market. Data from the Central Bank of Nigeria showed the naira gained N12.35, representing a 0.79 per cent appreciation when compared to Wednesday’s trading at N1,565.46 per dollar. The naira has been on a steady appreciation, trading at…
The African Development Bank (AfDB) has forecasted that Nigeria’s inflation will average 24.7% in 2025, before declining significantly to 17.3% in 2026, as outlined in its recent African Economic Outlook (AEO). Inflation remains a pressing issue for Nigeria’s economy, driven by factors such as exchange rate depreciation, elevated energy and food prices, alongside ongoing structural…
The naira experienced a rise yesterday, climbing to N1,620 per dollar in the parallel market, up from N1,625 per dollar on Monday. However, it faced a decline in the Nigerian Foreign Exchange Market (NFEM), where it fell to N1,598.69 per dollar, compared to N1,597 per dollar the previous day, reflecting a depreciation of N1.69. As…
Russia on Wednesday proposed to create the Association of Ethno-Gastronomic Tourism, saying it would help strengthen cooperation between states and the private sector at the BRICS working group meeting. Nikita Kondratiev, Director of Multilateral Economic Cooperation and Special Projects of the Russian Ministry of Economic Development made the announcement on the ministry’s website. “The accession…
Vice-President Kashim Shettima says, with critical reforms in key sectors of the economy, Nigeria is ripe for investments. Shettima stated this on Tuesday when he hosted a delegation from the Islamic Development Bank (IsDB), at the Presidential Villa, Abuja. The News Agency of Nigeria (NAN) reports that the delegation was led by the Head of…
