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 […]
FAAC disbursement to FG, subnationals down 1.5% to N1.578trn in March
Post AMUGEApril 16, 2025
Onome Amuge Nigeria’s Federation Accounts Allocation Committee (FAAC) disbursed a total of N1.578 trillion to the federal, state, and local governments in April, drawing from revenues generated in March 2025. The March allocation, roughly N25 billion lower than February’s payout, represents a 1.5 percent decline compared to the N$1.678 trillion allocated in the preceding month […]
Niger Delta cleanup must precede blue economy plans, expert tells FG
Post AMUGEApril 10, 2025
Ben Eguzozie, in Port Harcourt The conversation around delving into blue economy in Rivers State and the Niger Delta region could be unrealistic without first addressing the widespread environmental pollution and degradation caused by more than half a century of oil production, Silva Opuala-Charles, president of Garden City Business School, has warned. Opula-Charles, who is […]
Policy analyst Kila calls on Tinubu to vacate Petroleum Minister position
Post AMUGEApril 8, 2025
Anthony Kila, a renowned political economist and Commonwealth Institute director, has urged President Bola Tinubu to resign as Minister and take further action beyond simply changing the management and board of the Nigerian National Petroleum Corporation (NNPC). The NNPC, the government-owned company responsible for harnessing Nigeria’s oil and gas reserves for sustainable national development, recently […]
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 […]
Economists warn Rivers emergency rule threatens Nigeria’s economy in pan-Niger Delta crisis
Post AMUGEMarch 20, 2025
Ben Eguzozie, in Port Harcourt Economists and development experts are advancing several potential negative economic implications that will arise from the emergency rule in Rivers State on Nigeria’s petroleum production, with escalation into a possible pan-Niger Delta crisis. In particular, these economists, who spoke to Business a.m. described the President Bola Tinubu’s imposition of state […]
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 […]
Economy takes backstage as Tinubu slams emergency rule on Rivers
Post AMUGEMarch 19, 2025
Suspends Gov Fubara, deputy, assembly for 6-mnths 2025 budget permanently stalled Ben Eguzozie, in Port Harcourt The economy of oil-rich Rivers State, with a GDP size of more than $28.4bn, has taken a disreputable backstage as President Bola Tinubu finally weighed in over several months of escalating political tensions in the state, appointing a sole […]
Reps to CBN: suspend ATM fee hike, stop squeezing Nigerians
Post AMUGEMarch 12, 2025
Joy Agwunobi The House of Representatives has called for an immediate suspension of the recent increase in ATM transaction charges and the discontinuation of free ATM withdrawals for customers using other banks’ machines, as directed by the Central Bank of Nigeria (CBN). The lawmakers argued that the CBN’s decision to raise ATM withdrawal fees and […]