Falling per capita income signals tough times ahead for Nigeria’s economy
Post AMUGE
February 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 […]
January 2025 sees strong business confidence on continued growth
Post AMUGEFebruary 2, 2025
Onome Amuge Business activity in Nigeria maintained a positive trajectory in January 2025, attributed to increased customer demand and an improved willingness among clients to embark on new projects, driving a corresponding rise in output, according to the latest Purchasing Managers’ Index (PMI) report. The monthly PMI survey conducted by Stanbic IBTC Bank indicated that […]
Hardships: Hope rises as experts see Nigeria’s inflation cooling off in 2025
Post AMUGEJanuary 13, 2025
Onome Amuge As Nigerians eagerly await the upcoming inflation data report, inflation, which soared to a three-decade high of 34.6 per cent in November 2024, is predicted to decline significantly in 2025, sparking cautious optimism among analysts. In a potential glimmer of hope for Nigeria’s economy, analysts and economists alike, assert that inflation would moderate […]
Nigeria on track for economic growth resurgence in 2025, say analysts
Post AMUGEDecember 30, 2024
2025 will bring about FX stability- Ebo FDC predicts Nigeria’s currency will begin to claw its way back from 2025 Onome Amuge With 2025 upon us, Nigeria finds itself confronting an economic juncture riddled with obstacles such as soaring inflation, a volatile currency, inadequate infrastructure, and an array of policy somersaults. As 2024 drew to […]
NDDC, controversial gov’t quango operated without budgets for 3-yrs
Post AMUGEDecember 30, 2024
Approached financial institutions to raise N1trn to fund 2024 budget Ben Eguzozie The Niger Delta Development Commission (NDDC), the scandalous quango established by the Nigerian federal government in October 2000, hardly different from its previous character of opacity, phantom projects and phoney contract payments, recently showed that it is difficult to wean it of controversy. Information […]
Fitch flags budget deficit as key driver of potential Naira weakness
Post AMUGEDecember 29, 2024
Onome Amuge Fitch Ratings has flagged the possibility of significant hurdles in Nigeria’s efforts to stabilize its economy, stressing that failure to meet fiscal deficit reduction targets could impede the country’s progress. According to the global credit rating agency, if the budget deficit is larger than expected in 2025, this could result in a further […]
CBN sets N100,000 daily limit on POS withdrawals per customer
Post AMUGEDecember 18, 2024
Onome Amuge The Central Bank of Nigeria (CBN) has set a new limit of N100,000 per customer for daily withdrawals made through Point-of-Sale (POS) terminals. This limit was communicated to all Deposit Money Banks (DMBs), Microfinance Banks, Mobile Money Operators, and Super-Agents in a recent circular titled “Cash-out Limits for Agent Banking Transactions,” according to […]
FEC okays N47.96trn 2025 budget, moves to NASS on Wednesday
Post AMUGEDecember 16, 2024
Onome Amuge The Federal Executive Council (FEC) has announced the approval of a N47.96 trillion budget for the 2025 fiscal year, which is set to be presented to the National Assembly on Wednesday. The FEC also approved a target of 2.06 million barrels per day for domestic oil production, based on the significant improvements in […]