Section
Growth, inflation, trade and the macro picture
Africa's largest economy posted a record quarterly trade surplus in the second quarter of 2026 as exports outpaced imports, with non-crude receipts now accounting for more than half of outbound trade.
The Central Bank of Nigeria lowered its benchmark interest rate by 350 basis points on September 22, 2026, the steepest cut on record, as inflation eased for a third straight month and reserves strengthened.
The National Sugar Development Council has unveiled a $7.1 billion, ten-year investment plan to lift annual sugar production above two million tonnes and cut reliance on imports.
Nigeria's foreign direct investment fell 92% month-on-month to $11 million in September, highlighting the gap between hot portfolio money and long-term capital commitments.
The World Bank Group says it is helping to mobilise up to $5.79 billion in private financing for Nigeria in 2026, a push projected to support about 850,000 direct and indirect jobs.
Nigeria's poverty rate rose to 38.7% in 2024 from about 33% in 2021, according to the 2026 Global Multidimensional Poverty Index, which recorded the first global rise since 2010.
Independent marketers are pressing for an extension of the 30-day petrol discount, warning of fresh price increases when the window lapses.
British universities have withdrawn offers to Nigerian students as higher visa refusal rates prompt institutions to tighten screening.
The Nigeria Labour Congress has given the federal government two weeks to address petrol prices and the minimum wage, warning of industrial action.
The IMF has warned that Nigeria's improving economic indicators are not reaching the poorest households, questioning whether the country's reforms are creating shared prosperity.
The IMF has projected that Nigeria's economy will expand by 4.2% in 2026 and 4.3% in 2027, outpacing a global economy held back by tighter conditions and uneven momentum.
The agency affirmed Nigeria's sovereign rating at B but changed the outlook to positive, citing naira flexibility, disinflation and faster-than-expected reserve accumulation.
The slowdown gives policymakers room to hold, but the service sector is still running hot.
The economy expanded faster in the first half of 2026 and retained a current-account surplus, but the development lender says stronger public revenue must translate into services and jobs.
Stronger collection is narrowing the gap between the fiscal deficit and its financing.
Policymakers kept the benchmark unchanged and pushed back on talk of early cuts.
The latest projection is an improvement on the 4.0 percent growth recorded in 2025, with the multilateral lender expecting Nigeria’s...
Higher receipts from energy and agriculture offset a rise in the import bill.
Nigeria has a large agricultural market and significant production potential, but gaps in processing, technology, productivity and...
The $50bn Question Is Now About Delivery According to Oduwole, the investment announcements resulted from more than 80 memoranda of...
External debt stood at the equivalent of ₦75.20 trillion, while the entire debt portfolio was valued at about ...
ECOWAS says the region has 28 shared river basins covering about 71% of its land area, with nearly every country sharing at ...
The 350-basis-point reduction marked a larger step in the easing cycle, though borrowing costs will still depend on liquidity, bank funding and credit risk.
The sharp month-on-month rebound strengthened state revenue, but comparisons with December require care because deductions and the timing of collections can move between periods.