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Nigeria’s Federal Ministry of Finance has announced that the country’s real Gross Domestic Product expanded by 4.43 percent year on year in the second quarter of 2026, up from 4.23 percent in Q2 2025 and 3.89 percent in Q1 2026. It is the strongest quarterly growth rate Nigeria has recorded in roughly two years, and
Nigeria’s Economy Grows 4.43% in Q2 2026, Fastest Pace in Two Years Read More »
LAGOS, Nigeria — 21 August 2026 Nigeria’s external reserves could rise to approximately $53 billion by the end of 2026 if current macroeconomic reforms are sustained, according to the Nigerian Economic Summit Group (NESG) in its latest H2 2026 economic outlook. The organisation said stronger oil production, improving non-oil exports, ongoing foreign exchange reforms and
Nigeria’s External Reserves Could Reach $53 Billion by Year-End, NESG Projects Read More »
Finance Minister Taiwo Oyedele presented the Federal Government’s self-produced “Reform Scorecard” in Abuja on Wednesday, the administration’s own accounting of ₦30.64 trillion in incremental spending between June 2023 and December 2025. By the government’s breakdown, the largest single item was ₦9.39 trillion on wage adjustments and minimum-wage increases, followed by ₦9.37 trillion on external debt
Nigeria’s Federal Government spent ₦18.76 trillion on public sector wages and external debt servicing between June 2023 and December 2025, underscoring the growing fiscal pressures facing Africa’s largest economy despite ongoing economic reforms. According to Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, ₦9.39 trillion was spent on wage adjustments, the
The Federal Government has identified more than 4,000 abandoned mine pits across Plateau State as potential sites for private investment in energy, tourism and fishery projects, following decades of tin mining activity in the state. Minister of Solid Minerals Development Dele Alake said the government is seeking private-sector partners willing to convert the pits —
Johannesburg — 14 August 2026 South Africa’s economy delivered one of its more contradictory weeks in recent memory: a headline unemployment rate that pushed further past the 30% mark, sitting alongside payment and tourism data suggesting the economy hasn’t stalled entirely — just isn’t translating activity into jobs. The Number That Dominated Statistics South Africa’s
Global Energy Markets | 20 July 2026 Oil prices have climbed above $90 per barrel, reaching their highest level in more than a month as tensions around the Strait of Hormuz raised fresh concerns about global energy supplies. For many people, oil prices appear to be just another financial market headline. They are not. Oil
When Oil Crosses $90: Why One Price Can Change Economies Around the World Read More »
For much of the past four decades, the direction of economic policy in many advanced economies seemed settled. Governments sold state-owned enterprises. Markets were expected to allocate resources more efficiently than public institutions. Competition, privatization and deregulation became the defining principles of modern industrial policy. On 16 July 2026, Britain moved in the opposite direction.
The Return of State Ownership? Why Britain’s Steel Decision Matters Far Beyond the UK Read More »
ABUJA, NIGERIA — When governments announce new investment policies, tax incentives or business reforms, the expectation is often that foreign and local investors will respond by committing more capital. Sometimes they do. Sometimes they wait. That difference raises an important question. What exactly do investors look for before deciding to invest in a country like
What Every Investor Looks for Before Bringing Money Into Nigeria Read More »
LAGOS, NIGERIA — Across Nigeria, a quiet transformation is taking place inside factories, industrial estates, commercial buildings and corporate headquarters. Rather than waiting for improvements in the national electricity grid, many companies are taking matters into their own hands by building their own power plants. From cement manufacturers and breweries to banks, telecommunications companies, food
Why Nigerian Companies Are Investing More in Their Own Power Generation Than Ever Before Read More »