Despite sundry reform initiatives of the President Bola Tinubu-led administration to revitalize the nation’s economy, latest forecast from the International Monetary Fund (IMF) indicated that Nigeria’s economy continued its unimpressive performance, dropping into the fourth position in Africa economies’ ranking chart. This is coming barely two years after it was ranked as Africa’s largest economy […]
The Federal Government has assured that Nigerians and the global community that it will continue to highlight the progress made so far in its current drive to grow the Nigerian economy in order to attract more foreign investment into the country for socioeconomic well being of the citizenry. The Minister of Finance and Coordinating Minister […]
The International Monetary Fund (IMF) on Tuesday predicted that Nigeria’s inflationary pressure will ease to 26% this year. The Bretton Woods institution made the prediction during its presentation of global projections from its World Economic Outlook at a news conference in Washington DC. Speaking during a press conference, Division Chief of the Research Department at […]
The International Monetary Fund (IMF) has warned that price caps on fuel and electricity tariffs below the cost recovery could result to a fiscal cost amounting to 3% of Nigeria’s Gross Domestic Product (GDP) in 2024. The warning was given by the staff of the Fund in their report on completion of their mission to […]
Amid the prevailing foreign exchange FX and other micro and macroeconomic whirlwinds in Nigeria’s landscape, investment experts at Bancorp Securities Limited, a leading investment research and consulting services provider, have predicted trading sessions in the Nigerian Exchange (NGX) would be dominated by bears. The analysts, who made the forecast in the firm’s ‘Weekly Stock Recommendation […]
The International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to mop up excess liquidity in the nation’s economy through the issuance of OMO bills of up to N2 trillion in the next 12 months as a strategic step towards thawing rising inflation rate of the country. The development finance institution gave […]
The International Monetary Fund (IMF), has projected that Nigeria’s foreign reserves will significantly drop this year to an all-time low of $24 billion. This forecast is contained in the IMF’s latest Country Report for Nigeria, which highlighted potential challenges ahead for the Nigerian government in its current efforts to sustain the nation’s economic growth. Data […]
The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth projections for 2024 to 3.0% percent from the 3.1 percent it forecasted in October last year, which is far less than the 3.76 percent projected by the Federal Government this year. The Bretton Woods institution gave these figures in its ‘World Economic Outlook Update, January […]
Managing Director of International Monetary Fund (IMF), Kristalina Georgieva, has urged Central Banks globally against rushing to relax their current policy measures aimed at curbing surging inflation rates of the economies even with the Federal Reserve signalling its policy pivot next year. Georgieva, was quoted to have given the warning in a report by Bloomberg […]
The International Monetary Fund (IMF) has predicted that South Africa’s Gross Domestic Product (GDP) will briefly surpass Nigeria’s in 2024, thereby pushing Nigeria down from its current position as Africa’s largest economy. The Bretton Woods institution, in its World Economic Outlook, projected that South Africa’s GDP would reach $401 billion by 2024 at current prices […]