World Bank: Fuel price to slow Nigeria’s poverty reduction
•Says rising pre-election spending may derail reforms •Raises Nigeria’s 2026 growth forecast to 4.3% •Projects 15.7% inflation rate for 2026 •44% of firms in Nigeria, Kenya adopt AI, power constraints threaten gains By Babajide Komolafe, Economy Editor The World Bank has warned that elevated fuel prices could slow Nigeria’s poverty reduction efforts despite an expected […]
Nigeria records 14% rise in exports to Africa
…as fuel tops export list By Emma Ujah, with agency reports Nigeria’s exports to Africa reached N4.82 trillion in the first half of 2025, up 14% year-on-year compared to N4.21 trillion in the first half of 2024. West Africa absorbed over 62% of Nigeria’s continental exports. Bashir Adewale Adeniyi, Comptroller General of the Nigeria Customs Service, […]
How CBN is building bigger, resilient banks through recapitalisation
By Babajide Komolafe, Economy Editor The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has continued to drive his vision of regulatory excellence aimed at strengthening Nigeria’s financial system. The ongoing bank recapitalisation exercise, with about 20 banks already meeting the new minimum capital requirements, underscores the apex bank’s resolve to entrench […]
Nigeria’s cross-border payments on PAPSS falls 53% to N5.6bn
By Babajide Komolafe Nigeria’s participation in the Pan-African Payment and Settlement System (PAPSS) recorded a sharp contraction in the first half of 2025, as the value of cross-border transactions processed through the platform fell by 53 per cent to N5.6 billion. The Central Bank of Nigeria, CBN, disclosed this in its Financial Stability Report, June 30th, […]
Nigeria’s money supply grows to N124.4trn
Currency in circulation hits N5.4trn lCredit to govt rises 29% By Elizabeth Adegbesan Nigeria’s Money Supply (M²) grew by 1.2 percent month-on-month (MoM) to N124.4 trillion in December 2025, from N122.9 trillion the previous month. This is contained in Central Bank of Nigeria, CBN, Money and Credit Statistics released over the weekend. The data indicated that […]
AMCON cash recoveries rise 28% to N66.1bn — CBN
By Babajide Komolafe The Asset Management Corporation of Nigeria, AMCON, recorded a 27.87 per cent increase in cash recoveries to N66.12 billion in the first half of 2025, H1’25 from N51.71 billion at end-December 2024. The Central Bank of Nigeria, CBN disclosed this in its Financial Stability Report for H1’25 noting that the stronger recovery performance […]
