FAAC allocation rises 43% to record N15.26trn in 2024
Post AMUGE
March 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 […]
Nigeria’s February PMI shows strongest productivity growth in 14 months
Post AMUGEMarch 10, 2025
Onome Amuge The Nigerian economy experienced its fastest growth in productivity since January 2024 in February 2025, according to the recent Purchasing Manager’s Index (PMI) report from Stanbic IBTC Bank. This is as the headline figure jumped from 52.0 in January 2025 to 53.7 in February 2025. February 2025’s upturn in the PMI score not […]
Analysts show cautious optimism as Nigeria sees 3.84% GDP growth in Q4 2024
Post AMUGEMarch 3, 2025
Over reliance on services sector is detrimental to sustainable growth- LCCI Onome Amuge Nigeria’s economic stakeholders have greeted the latest GDP data released by the National Bureau of Statistics (NBS) with a mix of enthusiasm and pragmatism. The optimistic implications of the data have not gone unnoticed, while stakeholders have remained grounded in the potential […]
Services sector fuels Nigeria’s 3.84% GDP expansion in Q4 2024
Post AMUGEFebruary 25, 2025
Onome Amuge Nigeria’s Gross Domestic Product (GDP) expanded 3.84 percent in the fourth quarter of 2024, a 3.46 percent increase from the corresponding quarter in 2023, driven yet again by the services sector. The figure also marked a slight increase from the previous quarter, which recorded an identical 3.46 per cent growth rate. The latest […]
Rebased inflation rate raises concerns over true cost of living
Post AMUGEFebruary 24, 2025
Onome Amuge Nigeria’s inflation rate, which had been experiencing a sustained upward trajectory in recent months, witnessed a dip in January. The decline, revealed in the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS), is primarily attributed to the agency’s decision to re-base the index. The NBS rebasing initiative, a […]
Nigeria’s inflation rate drops to 24.48% in January 2025
Post AMUGEFebruary 18, 2025
Joy Agwunobi The National Bureau of Statistics (NBS) has announced that Nigeria’s headline inflation rate dropped to 24.48 per cent in January 2025, following the rebasing of the Consumer Price Index (CPI) from 34.80 per cent recorded in December 2024. Adeyemi Adeniran, statistician-general of the federation, disclosed this on Tuesday during a press briefing in […]
Nigeria’s economy sustains expansion for second consecutive month-CBN
Post AMUGEFebruary 15, 2025
Onome Amuge The Purchasing Managers’ Index (PMI) for Nigeria in January 2025 revealed a second consecutive month of economic expansion, as data from the Central Bank of Nigeria (CBN) showed a reading of 50.2 points for the month. This uptick in the PMI reflects improvements in key sectors such as industry and agriculture, signalling a […]
Falling per capita income signals tough times ahead for Nigeria’s economy
Post AMUGEFebruary 11, 2025
Onome Amuge Nigeria’s GDP per capita income dropped drastically by about 285 per cent in 11 years, pointing to a bleak future for the economy and Nigerians. According to the International Monetary Fund ( IMF), the GDP per capita income of Africa’s most populous nation dwindled from $3,220 in 2014 to $835.49 in 2025. A […]
Nigeria’s economic future uncertain amid Trump’s protectionist policies- Analysts
Post AMUGEFebruary 3, 2025
Onome Amuge Donald Trump’s second term as US President brings with it a sustained “America First” agenda centred on trade protectionism, domestic energy production, and foreign policy with a transactional lens. Analysts caution that for Nigeria, Africa’s largest economy and most populous country, the implications of these policies could mean a mixed bag of opportunities […]
Trump’s low interest rate policy may not aid FDI flow to Nigeria, emerging markets
Post AMUGEFebruary 3, 2025
Marcel Okeke is a practising economist and consultant in Business Strategy & Sustainability. His experience and sound analysis of the Nigerian and global markets have propelled him to the top of his field, cementing his reputation as a trusted authority on economic matters. In an interview with Business A.M’s BAMIDELE FAMOOFO and ONOME AMUGE, the former […]