Services sector fuels Nigeria’s 3.84% GDP expansion in Q4 2024
Post AMUGE
February 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 […]
THE 6-ZONAL POLITICAL SYSTEM: A PATH TO NIGERIA’S STABILITY AND ECONOMIC DEVELOPMENT
Post AMUGEFebruary 19, 2025
By AVM Monday Riku Morgan Nigeria, Africa’s most populous nation and supposedly largest economy, has long grappled with ethnic tensions, regional disparities, and governance inefficiencies. Despite its vast natural and human resources, the country has struggled to achieve political stability and sustainable economic development. The current 36-State structure and the FCT, initially designed to address […]
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 […]
Cross River’s IRS rises 209% to N46bn in 18 months
Post AMUGEFebruary 13, 2025
Gov Otu commissions Calabar 1 Tax Office Ben Eguzozie The Cross River State Internal Revenue Service (IRS) has achieved a remarkable 209% increase in tax revenue to N46 billion from N22 billion over the past 18 months, the state’s ministry of finance said, attributing the milestone to enhanced efficiency and strategic reforms rather than an […]
Rivers govt explains N800bn 2024 budget appeal case withdrawal at Supreme Court
Post AMUGEFebruary 11, 2025
Ben Eguzozie Similayi Fubara, governor, Rivers State River State government, still beleaguered by unending litigation from largely exogenous political tiff between incumbent governor, Similayi Fubara and his godfather Nyesom Wike (minister of Federal Capital Territory), has given reasons why it withdrew its appeal case at the Supreme Court over the 2024 state budget of N800 […]
Relief for importers as NCS suspends 4% FOB charge
Post AMUGEFebruary 11, 2025
Onome Amuge The Nigerian Customs Service (NCS) has suspended the application of a controversial provision that imposed a four percent Free-On-Board (FOB) value on all imports, as stipulated in Section 18(1)(a) of the NCS Act 2023. The announcement comes in response to ongoing consultations with Olawale Edun, the minister of finance and other key stakeholders. […]
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 […]