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In 2024, Nigeria’s debt servicing to the World Bank and IMF rose to $2.32 billion, a sharp increase from $998.92 million in 2023. Payments to multilateral creditors accounted for 56% …
Nigeria’s Debt Servicing to World Bank and IMF in 2024 Surges Significantly Read More
Nigerians have expended N21.51 trillion on imported goods in the last four years, including N6.77 trillion on foodstuffs. Despite efforts to increase local production, import dependency continues to escalate, with …
Nigerians Expend N21tn on Food Imports Amid Rising Dependency Read More
Nigeria is projected to see a 32% decline in cash payments by 2030 as digital payment methods gain popularity, according to Worldpay’s Global Payment Report 2024. The increase in access …
Nigeria’s Transition to Digital Payments: A 32% Decline in Cash Payments by 2030 Read More
MTN Nigeria and Airtel Africa Plc are anticipated to achieve profitability by 2025, following significant foreign exchange losses. MTN’s reported N925 billion in losses contrasted with Airtel’s reduction to $153 …
MTN Nigeria and Airtel Africa Project Profitability by 2025 Read More
In 2024, Nigeria spent over ₦520 billion on arms imports, the highest in five years, accounting for two-thirds of total imports from 2020 to 2024. The sharp increase challenges claims …
Nigeria Records Highest Arms Import Spending in Five Years in 2024 Read More
Nigeria’s debt service payments decreased from $540 million in January to $276 million in February 2025, as reported by CBN. This drop indicates successful debt restructuring efforts amidst rising Letters …
Nigeria’s Debt Service Payments Decrease Amid Trade Financing Recovery Read More
The MTN Group has reported a decline in revenue, attributed to economic challenges in Nigeria and the conflict in Sudan. Service revenue fell by 15.4%, although there was growth in …
MTN Group Reports Revenue Decline Amidst Economic Challenges in Nigeria and Sudan Read More
The Central Bank of Nigeria reported a foreign debt service expenditure of $5.47 billion from January 2024 to February 2025 and a modest increase in foreign remittances to $180.03 million. …
CBN Reports $5.47 Billion Spent on Foreign Debt Service in 14 Months Read More
The Nigerian stock market declined by 0.43% on Tuesday, resulting in a loss of N285 billion in market capitalisation. The All-Share Index dropped to 106,167.75. Despite the overall downturn, some …
Nigerian Stock Market Declines 0.43% Amid Investor Setbacks Read More
A report from Chatham House asserts that Nigeria is more competitive than it has been in 25 years, attributing this to the devaluation of the naira. The depreciation has improved …
Nigeria Achieves Competitive Edge in 25 Years Amid Currency Depreciation Read More