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Nigeria’s economy is on track for its fastest second-quarter expansion in five years, according to early macro nowcast estimates. The projected acceleration follows a solid opening-quarter performance that expanded by nearly four per cent year-on-year. Analysts attribute the momentum to easing inflation pressures, improved foreign exchange availability, and steady private sector demand. The agonising phase…
Nigeria’s economy sustained its slow climb out of stagnation during the first quarter of the year. Data released by the National Bureau of Statistics showed real gross domestic product expanded by 3.89 per cent year-on-year. This performance marks an improvement on the 3.13 per cent growth recorded during the same period last year. However, the…
Nigeria has effectively ended its era as a mono-product oil economy. New data from Quartus Economics reveals that between 2010 and 2024, the federation earned N161.1 trillion, with non-oil streams now providing the majority of government income. For the first time in decades, tax and non-oil revenues have eclipsed crude oil as the primary pillars…
