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

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GeneralOct 24, 2024
Weekly Economic Update (Oct 14th – Oct 18th)
Inflation in the UK has dropped to 1.7%, falling below the Bank of England's 2% target for the first time since April 2021.
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GeneralOct 23, 2024
Nigeria’s Q3’24 Performance: Economic Resilience Amidst Challenges
Nigeria's socio-economic conditions deteriorated in Q3 2024 despite sustained positive GDP growth. This was primarily due to the continuous rise in PMS prices and the subsequent increase in transport and logistics costs.
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GeneralOct 23, 2024
Nigeria’s Q3’24 Performance: Economic Resilience Amidst Challenges
Nigeria's socio-economic conditions deteriorated in Q3 2024 despite sustained positive GDP growth. This was primarily due to the continuous rise in PMS prices and the subsequent increase in transport and logistics costs.
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GeneralOct 17, 2024
Weekly Economic Update (Oct 7th – Oct 11th)
Brent crude prices experienced notable volatility, reaching a high of $80.93 per barrel before falling to $76.58 mid-week and rebounding to $79.04 by week’s end.
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GeneralOct 15, 2024
Headline inflation bucks its two month decline in September
As expected, headline inflation reversed its two-month downward trend, climbing by 55bps to 32.7% in September from 32.15% in August. This increase was primarily driven by food inflation
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GeneralOct 14, 2024
Headline inflation is projected to increase again in September (32.38%)
Nigeria's unemployment rate rose to 5.3% in Q1 2024, up from 5.0% in Q3 2023 and 4.10% in Q1 2023, reflecting ongoing macroeconomic challenges
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GeneralOct 02, 2024
Weekly Economic Update (Sept 23rd – Sept 27th)
Nigeria's unemployment rate rose to 5.3% in Q1 2024, up from 5.0% in Q3 2023 and 4.10% in Q1 2023
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GeneralSep 25, 2024
MPC tightens further, raises the MPR by 50 bps to 27.25%
The MPC has raised the monetary policy rate by 50 basis points to 27.25%, marking the fifth consecutive increase this year, with a cumulative hike of 850 basis points.
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GeneralSep 24, 2024
Weekly Economic Update (Sept 16th – Sept 20th)
The Federal Reserve's decision to cut the federal funds rate by 50 basis points, marking its first reduction since March 2020. This move, influenced by easing inflation and a weakening labor market, is expected to have significant implications for emerging markets, including Nigeria.
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GeneralSep 18, 2024
Weekly Economic Update (Sept 9th – Sept 13th)
Nigeria's trade surplus has expanded by 33.63% to ₦6.95 trillion, driven by a significant increase in exports, particularly crude oil, despite a decline in total merchandise trade.
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GeneralSep 17, 2024
Headline inflation moderates to 32.15% in August
The National Bureau of Statistics (NBS) published its August CPI and inflation report on September 16. As anticipated, Nigeria’s headline inflation declined again
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GeneralSep 13, 2024
Headline inflation is projected to decline again in August (32.42%)
The primary concern for many Nigerians today is the rising cost of living, driven by increasing food prices, higher rent, and elevated transportation costs.
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GeneralSep 11, 2024
Weekly Economic Update (Sept 2nd – Sept 6th)
Nigeria’s composite Purchasing Managers’ Index (PMI), as reported by the Central Bank of Nigeria, moved back into expansion territory
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GeneralAug 29, 2024
Weekly Economic Update (Aug 19th – Aug 23rd)
FGN Launches $500 Million Domestic Dollar Bond: The Federal Government launched a $500 million domestic dollar bond as part of a larger $2 billion program.
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GeneralAug 29, 2024
Real GDP Growth Expands to 3.19% in Q2 2024
Nigeria's real GDP grew by 3.19% in Q2 2024, up from 2.98% in Q1 2024 and 2.51% in Q2 2023. This growth was mainly driven by a robust performance in the services sector ...
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GeneralAug 20, 2024
Weekly Economic Update (Aug 12th – Aug 16th)
While US inflation continues to decline, UK inflation saw a slight uptick, which could impact monetary policy decisions in both regions.
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GeneralAug 20, 2024
Weekly Economic Update (Aug 12th – Aug 16th)
While US inflation continues to decline, UK inflation saw a slight uptick, which could impact monetary policy decisions in both regions.
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GeneralAug 17, 2024
Headline inflation bucks its 18 month upward trend in July (33.4%)
Consistent with our forecast and the projections of most analysts, headline inflation reversed its 18-month upward trend
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GeneralAug 06, 2024
Weekly Economic Update (July 29th – Aug. 2nd)
The Senate and House of Representatives have passed a bill to amend the CBN Act, increasing ways and means advances threshold to the Federal Government from 5% to 10% of the previous year’s revenue.
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GeneralJul 26, 2024
MPC increases MPR by 50bps to 26.75%
The Monetary Policy Committee (MPC) maintained its hawkish stance, raising the monetary policy rate (MPR) by 50 basis points
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GeneralJul 17, 2024
Weekly Economic Update (July 8th – 12th)
US inflation dropped for the third consecutive month to 3% in June, the lowest since June 2023
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GeneralJul 16, 2024
Headline inflation soars to 34.19% in June
The National Bureau of Statistics released the June CPI and inflation data today, revealing that headline inflation exceeded the 34% mark, reaching 34.19%. This figure is 0.24% higher
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GeneralJul 12, 2024
Headline inflation to creep up to 34.01% in June
Headline inflation in Nigeria is anticipated to climb to 34.01% in June, marking the 18th consecutive monthly increase from 33.95% in May.
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GeneralJul 11, 2024
Home Financing as a critical pillar for deploying capital for shared prosperity
At its core, home financing empowers individuals and families to acquire residential property, thereby creating a tangible asset that contributes to personal wealth accumulation. By facilitating access to mortgage loans and other financing mechanisms, financial institutions enable aspiring homeowners to enter the property market.
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GeneralJul 10, 2024
Deploying Capital for Shared Prosperity.
Nigeria, despite having one of the largest economies in the region, faces significant challenges, ranking second globally in terms of its population living in poverty, with approximately 133 million people considered multi-dimensionally poor and 88.4 million living in extreme poverty as of 2022.
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GeneralJul 09, 2024
Weekly Economic Update (July 1st – 5th)
Brent crude experienced volatile trading. It surpassed $87 per barrel on two occasions, a price not seen since the end of April,
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GeneralJul 02, 2024
Weekly Economic Update (June 24th – 28th)
Nigeria's total public debt surged 30.4% to N121.67 trillion ($91.46 billion) in Q1 2024 from N97.34 trillion in Q4 2023 ($108.23 billion). This is largely because of the 11.05% increase in domestic debt stock to N65.65 trillion from N59.12 trillion, being new borrowings for part funding of the 2024 budget and securitization of the ways and means advances, coupled with the depreciation of the Naira.
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GeneralJun 26, 2024
Weekly Economic Update (June 17th – 21st)
The Bank of England, at its June meeting, left its interest rate unchanged at 5.25%, the level it has been since August 2023. This move was despite the moderation in inflation to 2% in May, aligning with the Central Bank’s target.
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GeneralJun 18, 2024
Headline inflation up marginally to 33.95%
The National Bureau of Statistics published its May 2024 CPI and inflation report on June 15. Consistent with forecasts, Nigeria's headline inflation continued its upward trend for the 17th consecutive month but came in lower than most analysts anticipated. The consumer price index rose by 33.95%, a modest increase from 33.69% in April. Interestingly, month-on-month inflation, which provides a more current assessment of price changes, decreased for the third consecutive month to 2.14% from 2.29% in April.
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GeneralJun 10, 2024
Nigeria’s inflation to edge higher as planting season takes its toll on food prices
In recent months, Nigeria has experienced a steady increase in inflation rates, primarily attributed to significant currency depreciation, rising logistics costs, infrastructural challenges, and other structural constraints.
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GeneralJun 10, 2024
Weekly Economic Update (June 3rd – 7th)
Nigeria's trade balance widened significantly by 79.12% to N6.52 trillion in Q1 2024.
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GeneralJun 03, 2024
Weekly Economic Update (May 27th – May 31st)
During its meeting on June 2nd, OPEC and its allies opted to extend their oil output cuts in line with expectations, aiming to stabilize the market amidst sluggish demand growth in China, elevated interest rates, and increasing US oil inventories.
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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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