By Jemimah Wellington, JKNewsMedia Reporter THE INDEPENDENT Media and Policy Initiative (IMPI) has criticised the International Monetary Fund (IMF) for trimming Nigeria’s projected economic growth in 2025 from 3.2 percent to 3.0 percent, arguing the assessment overlooks the country’s broader economic evolution beyond oil. In a policy statemen...
By Jemimah Wellington, JKNewsMedia Reporter BORROWINGS BY Nigerian banks from the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF) plunged 97.6 percent month-on-month in April 2025, dropping to N380 billion from a staggering N16.5 trillion in March. The steep fall signals a significant improvement in banking system liquidity, a...
By Jemimah Wellinton, JKNewsMedia Reporter AS WORKERS across Nigeria marked International Workers’ Day (IWD), the Corporate Accountability and Public Participation Africa (CAPPA) issued a stern call for government action, insisting that only the implementation of a living wage can stem the tide of deepening poverty and economic hardship among...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA IS aiming for a bold 7% annual economic growth rate, with plans to leverage agricultural productivity, digital infrastructure, and oil production as the primary engines of expansion. Minister of Finance and Coordinating Minister for the Economy, Wale Edun, revealed the new target while addre...
By Esther Olaifa, JKNewsMedia Reporter TRANSACTION CHARGES on money transfers have been scrapped by one of Nigeria’s financial institutions, Sterling Bank, marking a landmark shift in the country’s banking landscape. The no-fee policy applies exclusively to users of the bank’s digital app, OneBank, making it the first major player in th...
By Jemimah Wellington, JKNewsMedia Reporter SEVERAL NIGERIAN banks have reported a payment of about N205.6 billion as part of their windfall tax for the 2024 financial year, according to an audit filed with the Nigerian Exchange Limited (NGX). However, the total payments fall significantly short of the N1 trillion expected by the Federal Gove...
By BusinessDay NIGERIANS COULD soon pay as much as N930 per litre for petrol as negotiations continue over the naira-for-crude sales between the federal government, through the Nigerian National Petroleum Company (NNPC) Limited, and local petroleum refiners. BusinessDay analysis showed that the ex-depot price of petrol stood at an average of N...
By Jemimah Wellington, JKNewsMedia Reporter THE HEADLINE inflation rate in Nigeria eased to 23.18% in February 2025, marking a 1.30% decline from the 24.48% recorded in January, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday. The report highlights a significant downward ...
By Ajibola Olaide, JKNewsMedia Reporter ECONOMIC GROWTH in 2024 surpassed expectations, reinforcing the impact of reforms initiated by President Bola Ahmed Tinubu on 29 May 2023. The Independent Media and Policy Initiative (IMPI) disclosed this in a statement issued by its Chairman, Dr. Omoniyi M. Akinsiju. At 3.40 per cent for the full year,...
By Ajibola Olaide, JKNewsMedia Reporter ECONOMIC POLICIES under President Bola Tinubu’s administration took centre stage at the recently concluded All Progressives Congress (APC) National Economic Council (NEC) meeting in Abuja. Discussions also focused on the trajectory of ongoing reforms, with party leaders and governors citing data t...
