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READ MOREAfrica Renegotiates Its Risk Premium: The AfCRA, London’s Africa Debates, and the Revaluation of Sovereign Capital At the Africa Debates in London, Ghanaian President John Mahama and Finance Minister Dr. Ato Forson positioned Africa’s institutional response to Western credit frameworks as an assertive realignment of sovereign finance on African terms, framing the continent’s fiscal challenge […]
Tinubu’s Nairobi Debt Call and the $1.25 Billion World Bank Negotiation Signal a New Phase in Nigeria’s Development Finance Strategy Nigeria’s macro fiscal position moved to the centre of international attention in the second week of May as President Bola Tinubu used the Africa Forward Summit in Nairobi on May 13 to disclose that the […]
Reserve Drawdown Enters Sixth Consecutive Week as Inflation Reversal Deepens Macro Pressure Nigeria’s external reserves shed approximately $855 million across five weeks, falling from $49.18 billion on April 1 to $48.33 billion by May 7, extending the drawdown identified in the April Bi-Weekly update into a fifth consecutive week. A partial recovery $218 million was […]
Nigeria’s 4Ps Model: From Reform Announcement to Execution Accountability Taiwo Oyedele’s appointment as Finance Minister following the resignation of Mr. Wale Edun is a consequential personnel decision. His leadership of the Presidential Fiscal Policy and Tax Reform Committee, built on a PwC career focused on tax architecture, gives him genuine reform credibility. However, the fiscal […]
Inflation Reverses as Energy Shock Reignites Price Pressures Nigeria’s inflation path reversed in March, with headline inflation rising to 15.38% from 15.06% in February, the first increase in twelve months. More concerning is the sharp acceleration in monthly inflation to 4.18%, up from 2.01%, signaling a rapid and broad-based build-up in price pressures. The trigger […]
Headline Inflation Edges Down as Monthly Price Pressures Reverse Nigeria’s headline inflation edged down slightly to 15.06% in February from 15.10% in January, marking eleven straight months of year-on-year disinflation. On the surface, that looks like continued progress. Beneath it, the picture is more concerning. The monthly trend reversed sharply. Month-on-month inflation jumped to +2.01% […]
1. Oil Prices Surge as US–Iran Tensions Escalate Global oil prices have surged in March amid escalating geopolitical tensions between the United States and Iran, with Brent crude trading above $100 per barrel and continuing to fluctuate around that level as markets respond to rapidly evolving developments in the Middle East. Nigeria’s Bonny Light crude […]
Inflation Moderates to 15.10% as Food Disinflation and FX Stability Ease Price Pressures Nigeria’s headline inflation eased marginally to 15.10% in January 2026, down from 15.15% in December 2025, according to the National Bureau of Statistics. The moderation was more pronounced on a month-on-month basis, with prices declining by 2.88%, compared to a 0.54% increase […]
PMI Readings Diverge in January as Indicators Send Mixed Signals Nigeria’s private-sector business activity indicators delivered contrasting signals in January 2026, highlighting uneven momentum at the start of the year. The Stanbic IBTC Purchasing Managers’ Index declined to 49.7 from 53.5 in December, falling below the 50-point threshold that separates expansion from contraction for the […]
IMF Projects Nigeria’s GDP Growth at 4.4% in 2026 The International Monetary Fund projects Nigeria’s real GDP growth at 4.4 percent in 2026, a modest acceleration from its estimated 2025 outcome. The projection reflects expectations of continued macroeconomic stabilisation, gradual reform transmission, and steady expansion in services-driven activity, rather than a sharp cyclical rebound. At […]
