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The Managing Director/Chief Executive of the Nigerian Education Loan  Fund (NELFUND), Mr. Akintunde Sawyerr  urge  parents, the Academia, Traditional Rulers and students in the South East zone of Nigeria to key into the interest – free educational loan scheme provided by the Federal Government of Nigeria. Mr. Sawyerr made this call at the strategic engagement session with key stakeholders held on Thursday at the Old Government Lodge in Enugu The interactive session aimed at deepening...

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Nigeria’s headline inflation rate declined slightly to 23.71 per cent  in April 2025, down from 24.23 per cent recorded in March, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Thursday. The NBS noted that the 0.52 percentage point drop indicates a modest easing of inflationary pressures in Africa’s largest economy. On a month-on-month basis, the headline inflation rate stood at 1.86 per cent in April,...

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The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole has projected the growth of the logistics industry at over $3 trillion in the next five years. Oduwole spoke at the official opening of the international headquarters of a logistics firm, Zenith Carex, in Abuja, on Wednesday. The event coincided with the 51st birthday anniversary of its Managing Director/Chief Executive Officer of Zenith Carex, Dr. Adelana Olamilekan. Oduwole, who was represented by the Executive Director/Chief...

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The World Bank has raised fresh concerns over Nigeria’s economic outlook, warning that poverty levels in the country are likely to rise by 3.6 per cent between now and 2027. The projection is contained in the latest edition of the Africa’s Pulse report, which was released this week during the Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, D.C. “Poverty in resource-rich, fragile countries—including large economies like Nigeria and...

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On Tuesday, the Nigerian stock market saw a positive change, recovering ₦101 billion after several days of losses. The total value of all the stocks on the market rose by ₦101 billion, ending the day at ₦65.589 trillion, up from ₦65.488 trillion on Monday. The stock market’s key index also went up by 159.88 points, closing at 104,376.75, a small but welcome rise from the previous day. However, not all stocks performed well. While some...

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The Central Bank of Nigeria (CBN) has announced a remarkable turnaround in the country’s external financial standing, recording a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year. This marks a significant recovery from a deficit of $3.34 billion in 2023 and $3.32 billion in 2022. According to a press release on 9 April 2025, the CBN stated that the surplus “reflects the impact of wide-ranging macroeconomic reforms, stronger trade performance,...

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Wale Edun, the Minister of Finance and Coordinating Minister of the Economy has said that the federal Government would take a second look at the 2025 budget assumptions. Edun’s statement is coming after US President Donald Trump slapped a 14 per cent tariff on non-mineral exports. This was disclosed at the corporate governance forum on Monday in Abuja, where a performance scorecard for State Owned Enterprises (SOEs) was also launched. In the 2025 Appropriation Act,...

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The World Bank has approved three operations in Nigeria, amounting to $1.08 billion in concessional financing, to improve education quality, enhance nutrition, and support economic resilience for vulnerable communities. The funding includes $500 million for the Hope for Quality Basic Education for All (HOPE-EDU) initiative, $500 million in additional financing for the Nigeria: Community Action for Resilience and Economic Stimulus (NG-CARES) programme, and $80 million for Accelerating Nutrition Results in Nigeria (ANRIN 2.0). The NG-CARES...

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The Central Bank of Nigeria (CBN) has announced a significant improvement in Nigeria’s Net Foreign Exchange Reserve (NFER), which has surged to $23.11 billion, the highest level in over three years. This marks a sharp increase from $3.99 billion at the end of 2023, $8.19 billion in 2022, and $14.59 billion in 2021. The CBN attributed this growth to strategic policy measures, including a deliberate reduction in short-term foreign exchange liabilities, such as FX swaps...

…Fuel Prices May Drop to ₦750 Per Litre Before Year-End The National Institute for Policy and Strategic Studies (NIPSS) has described the removal of fuel subsidy by President Bola Tinubu as a necessary decision to save Nigeria’s economy, urging Nigerians to endure the hardship caused by the policy. The fuel subsidy removal, announced unexpectedly during Tinubu’s inauguration on 29 May 2023, led to a sharp increase in petrol prices, with the product now selling for...

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