IMF urges Nigeria’s govt to plowback fuel subsidy savings to fund budget
Post AMUGE
April 21, 2025
Bamidele Famoofo The International Monetary Fund ( IMF) has tasked fiscal authorities to throw back savings from removal of fuel subsidy into funding the 2025 annual budget, if it must safeguard key spending priorities. The IMF during its routine consultative mission to the most populous black nation in April, noted that the economic outlook is […]
Nigeria’s trade surplus jumps 107% to $2.2bn- CBN
Post AMUGEApril 18, 2025
Onome Amuge Nigeria recorded an increase in its trade surplus in January 2025, reaching $2.2 billion, representing a 107.5 per cent month-on-month (MoM) increase from the $1.06 billion surplus recorded in December 2024, according to the Central Bank of Nigeria (CBN) Monthly Economic Report for January 2025. The CBN attributed the rise in the trade […]
Financial burdens pound on Nigerians amid inflation drop
Post AMUGEMarch 24, 2025
Purchasing power, corporate sales remain at rock bottom-FDI FG faces an uphill battle in controlling inflation- CPPE Onome Amuge Nigeria’s inflation rate cooled in February 2025, posting its second consecutive monthly decline to a still-high but gradually improving figure of 23.18 percent, from January’s 24.48 percent reading. The latest data from the National Bureau of […]
FAAC allocation rises 43% to record N15.26trn in 2024
Post AMUGEMarch 19, 2025
Onome Amuge The Federation Accounts Allocation Committee (FAAC) set a new benchmark for revenue distribution in 2024, disbursing a total of N15.26 trillion to the federal, state, and local governments. The figure stands as the highest revenue allocation figure in the history of Nigeria, representing a 43 percent increase compared to previous years, as highlighted […]
Nigeria’s February PMI shows strongest productivity growth in 14 months
Post AMUGEMarch 10, 2025
Onome Amuge The Nigerian economy experienced its fastest growth in productivity since January 2024 in February 2025, according to the recent Purchasing Manager’s Index (PMI) report from Stanbic IBTC Bank. This is as the headline figure jumped from 52.0 in January 2025 to 53.7 in February 2025. February 2025’s upturn in the PMI score not […]
Analysts show cautious optimism as Nigeria sees 3.84% GDP growth in Q4 2024
Post AMUGEMarch 3, 2025
Over reliance on services sector is detrimental to sustainable growth- LCCI Onome Amuge Nigeria’s economic stakeholders have greeted the latest GDP data released by the National Bureau of Statistics (NBS) with a mix of enthusiasm and pragmatism. The optimistic implications of the data have not gone unnoticed, while stakeholders have remained grounded in the potential […]
Services sector fuels Nigeria’s 3.84% GDP expansion in Q4 2024
Post AMUGEFebruary 25, 2025
Onome Amuge Nigeria’s Gross Domestic Product (GDP) expanded 3.84 percent in the fourth quarter of 2024, a 3.46 percent increase from the corresponding quarter in 2023, driven yet again by the services sector. The figure also marked a slight increase from the previous quarter, which recorded an identical 3.46 per cent growth rate. The latest […]
Rebased inflation rate raises concerns over true cost of living
Post AMUGEFebruary 24, 2025
Onome Amuge Nigeria’s inflation rate, which had been experiencing a sustained upward trajectory in recent months, witnessed a dip in January. The decline, revealed in the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS), is primarily attributed to the agency’s decision to re-base the index. The NBS rebasing initiative, a […]
Nigeria’s inflation rate drops to 24.48% in January 2025
Post AMUGEFebruary 18, 2025
Joy Agwunobi The National Bureau of Statistics (NBS) has announced that Nigeria’s headline inflation rate dropped to 24.48 per cent in January 2025, following the rebasing of the Consumer Price Index (CPI) from 34.80 per cent recorded in December 2024. Adeyemi Adeniran, statistician-general of the federation, disclosed this on Tuesday during a press briefing in […]
Nigeria’s economy sustains expansion for second consecutive month-CBN
Post AMUGEFebruary 15, 2025
Onome Amuge The Purchasing Managers’ Index (PMI) for Nigeria in January 2025 revealed a second consecutive month of economic expansion, as data from the Central Bank of Nigeria (CBN) showed a reading of 50.2 points for the month. This uptick in the PMI reflects improvements in key sectors such as industry and agriculture, signalling a […]