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Economy
More businesses adjusting to Nigeria’s deepening poverty
From FMCGs and real estate to insurance and aviation, more businesses in Nigeria are making efforts to adjust their products and services to serve the larger segment of the low-income…
What Nigeria can do in 3-6 months to soften inflation
More than 11 million Nigerians are projected by the World Bank to fall into poverty in the next year, largely due to the country’s high inflation rate that has reached new records in 2021, a…
To reduce inflation, poverty, Nigeria needs to focus on these 6 areas
About 25 million adults in Nigerian households did not eat for an entire day in 2020, a signal of how poverty is eating deep into Africa’s largest economy.
The World Bank estimated the…
Without reforms, Nigeria’s economic prospects remain subdued
Different growth projections have been made for Nigeria’s fragile economy for 2021, after it showed a weak 0.11 percent rebound in the fourth quarter of last year.
The World Bank projects…
With 6.3% NPLs, Nigerian banks show signs of stress – World Bank
With some 6.3 percent Non-Performing Loans (NPLs) sitting in the balance sheets of Nigerian banks, the system is already showing signs of stress, the World Bank warned on Tuesday as it…
For first time in 2yrs, Nigeria’s inflation rate slows for second straight…
Nigeria's inflation rate surprisingly slowed to 17.93% in May 2021 from 18.12% in April 2021 beating most analysts' forecasts. The slowdown however doesn't provide much relief to Nigerians…
Surging inflation pushes 7m more Nigerians into poverty
Nigeria’s surging inflation rate has pushed 7 million Nigerians into poverty, the World Bank said in its latest Nigeria Development Update report.
According to the report, before…
Nigeria’s economic recovery threatened by slow pace of reforms, World Bank says
The World Bank in its Nigeria Development update report says the country’s economic recovery is threatened by the slow pace of reforms.
The Bank has projected economic growth of 1.8…
Nigeria can be blessing to Africa but its cratering economy may become the…
If there was ever a time Nigeria could have taken off, it was in 1999. Democracy had been restored, with its economy reopening after decades of mismanagement and plunder under military…
Data fails to justify Buhari’s claim of lifting 10.5m out of poverty
Nigeria’s President Muhammadu Buhari, during his Democracy Day speech on Saturday, claimed that his administration has successfully lifted 10.5 million Nigerians out of poverty in the last…