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Everything you need to know about finance and investing in Nigeria.

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GeneralMay 28, 2024
Real GDP Growth Slows to 2.98% in Q1’24
The Nigerian economy expanded by 2.98% in the first quarter of 2024, marking a decrease of 0.48% from the 3.46% growth recorded in Q4’23, yet showing a 0.67% improvement compared to the 2.31% growth posted in Q1’23. The sustained positive growth trajectory was primarily supported by the services sector, as most productive sectors were adversely affected by sharp...
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GeneralMay 22, 2024
CBN maintains its hawkish stance, prioritizing macroeconomic stability
As widely anticipated, the MPC unanimously voted to maintain its hawkish monetary stance during its third meeting of the year, raising the monetary policy rate by 150 basis points (bps) to 26.25%. The CBN consistently raised its monetary policy rate in the last three meetings, bringing the cumulative rate hike to 750bps. Notably, the committee opted to leave other policy parameters unchanged, including the asymmetric corridor at +100/-300 bps, Cash Reserve Ratio at 45%, and liquidity ratio at 30%.
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GeneralMay 21, 2024
Weekly Economic Update (May 13th – May 17th)
Following a steady rise in the first quarter, US inflation began the second quarter on a moderating trajectory, declining to 3.4% (year-on-year) in April from 3.5% in March. Similarly, the monthly index slowed to 0.3% in April from 0.4% in March. This deceleration was driven by decreased shelter prices and a stabilization in food prices.
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GeneralMay 20, 2024
Weekly Economic Update (May 6th – May 10th)
The FGN spent a whopping $1.12 billion to service its external debt in the first quarter of 2024. This represents an increase of 39.7% when compared to a sum of $801.36 million expended in the corresponding period in 2023.
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GeneralMay 17, 2024
Headline inflation creeps up to 33.69%
The National Bureau of Statistics published its April 2024 CPI and Inflation report yesterday. As widely predicted, headline inflation continued its upward trajectory, reaching a 28-year high of 33.69%, up from 33.2% in March.
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GeneralMay 14, 2024
Headline inflation is projected to rise to 34.5% as petrol scarcity resurfaces and Naira weakens
Inflation has become a focal point not just in Nigeria but also globally, compelling policymakers to extend their hawkish stance beyond initial expectations. In Nigeria, the National Bureau of Statistics is set to unveil its CPI and inflation report for April this week.
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GeneralMay 07, 2024
Weekly Economic Update (April 29th – May 3rd)
During its latest Federal Open Market Committee (FOMC) meeting on May 1st, the Federal Reserve unanimously voted to keep its policy rates unchanged at 5.25% - 5.50%, marking the sixth consecutive meeting of maintaining the status quo.
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GeneralApr 30, 2024
Weekly Economic Update (April 22nd – 26th)
In the first quarter of 2024, the US economy expanded at an annualized rate of 1.6%, significantly below market forecasts of 2.5% and 1.8% lower than the 3.4% growth recorded in the fourth quarter of 2023. This marks the slowest pace of growth since the second quarter of 2022.
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GeneralApr 22, 2024
Weekly Economic Update (April 15th - 19th)
Nigeria's GDP growth projection for 2024 has been revised upward by 0.3% to 3.3% from the previous projection of 3.0%. This new forecast is 0.4% higher than the estimated growth rate of 2.9% in 2023.
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GeneralApr 16, 2024
Nigeria's Inflation Soars as Commodity Prices Remains Resistant to Decline
Nigeria's inflation surged to a 28-year peak of 33.2% in March, driven by persistent factors despite aggressive monetary policy measures. Food inflation hit 40%, placing Nigeria among the top 5 countries with the highest food inflation rates. Core inflation rose to 25.9%, fueled by increases in transport, rental, medical, and pharmaceutical costs. The MPC is expected to maintain current monetary policy as inflationary pressures persist but may slow as commodity prices respond to currency appreciation. The cost of a healthy diet surged by 9.32%, impacting households' purchasing power and well-being.
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GeneralApr 12, 2024
Nigeria’s inflation to increase but at a slower pace in March as exchange rate stabilizes
The National Bureau of Statistics (NBS) will release its CPI and inflation report for the month of March next week. Expectations are that Nigeria’s headline inflation will increase further to 32.13% from 31.7% in February. However, the rate of increase is expected to reduce to 0.43% from 1.8% the previous month. This suggests that inflation could reach its peak soon and begin to decline.
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GeneralMay 08, 2023
You, Your Financial Goals & GDL
By this point, the hype of the new year and the motivation to see resolutions through might have begun to fade away. New year resolutions start off quite determinedly and then dwindle as the year gets older and old habits offer comfortability. It is easy to fall back into old patterns rather than push ourselves to try out different, potentially better paths.
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