By Jemimah Wellington, JKNewsMedia Correspondent RANKED 178 OUT of 189 countries surveyed, Nigeria stands as the 12th poorest globally by Gross Domestic Product (GDP) per capita in 2025. This revelation is based on the International Monetary Fund (IMF) data published by Visual Capitalist. The report indicates that Nigeria’s GDP per capita sta...
By JKNewsMedia EFFORTS TO improve interstate trade and ease the movement of goods across Nigeria gained momentum as governors agreed to partner with the federal government to streamline levies and eliminate unauthorised checkpoints nationwide. The resolution followed a meeting of the Nigeria Governors’ Forum (NGF) held at its secretariat in A...
By Jemimah Wellington, JKNewsMedia Reporter ECONOMIC REFORMS of President Bola Tinubu has rescued Nigeria’s finances from a near-catastrophic breakdown and returned macroeconomic indicators to a path of solvency, according to Governor Chukwuma Soludo of Anambra State. Addressing a national audience during The Platform Nigeria on June 12, the ...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA’s REFORM agenda gained fresh international credibility following Moody’s Investors Service’s decision to upgrade the country’s long-term foreign-currency issuer rating from Caa1 to B3, assigning a Stable Outlook. The Federal Government described the move as a pivotal acknowledgment of the na...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA’s ECONOMIC transformation entered a new phase, said President Bola Tinubu, while marking two years in office, and outlining sweeping reforms driving recovery across critical sectors. In a national address on 29 May 2025, the President reaffirmed his administration’s commitment to reviving th...
By Jemimah Wellington, JKNewsMedia Reporter SOME OF the economic reforms under President Bola Tinubu have propelled the Nigeria Customs Service to an all-time high revenue of ₦1.3 trillion in the first quarter of 2025, more than double the ₦600 billion generated in the same period two years earlier. The figure, described by officials as unpre...
EXTERNAL DEBT service surged by 49.2 percent year-on-year to $2.01 billion in the first four months of 2025, up from $1.34 billion in the same period of 2024. The data, released by the Central Bank of Nigeria, underscores the growing strain on the nation’s public finances amid persistent foreign exchange constraints and a weakened revenue [&he...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA’s EXTERNAL reserves slumped to an eight-month low in April as the Central Bank ramped up dollar sales and foreign debt service obligations weighed on the balance. Gross reserves dipped by nearly $375 million from March to $37.9 billion at the end of April, marking the fourth consecutive mont...
By Jemimah Wellington, JKNewsMedia Reporter THE AFRICAN Development Bank (AfDB) Group has endorsed a bold five-year Country Strategy Paper (2025–2030) for Nigeria, committing approximately $650million annually to drive economic transformation, enhance resilience, and support inclusive prosperity across the nation. It says the sweeping $3.2 bi...
By Joke Kujenya CLOSING 2024 with a Balance of Payments (BOP) surplus of $6.83 billion, Nigeria records a dramatic reversal from consecutive deficits of $3.34 billion in 2023 and $3.32 billion in 2022. The Central Bank of Nigeria (CBN) attributed this turnaround to a combination of bold macroeconomic reforms, stronger trade dynamics, and a re...
