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The economy of Nigeria is a middle-income, mixed economy and emerging market [27] [28] with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. [ 29 ] [ 30 ] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP , the fourth largest in Africa and the 27th-largest in terms ...
Nigerien crisis (2023–2024) On 26 July 2023, a coup d'état occurred in Niger, during which the country's presidential guard removed and detained president Mohamed Bazoum. Subsequently, General Abdourahamane Tchiani, the Commander of the Presidential Guard, proclaimed himself the leader of the country and established the National Council for ...
Africa’s GDP has tripled since 1990; it recorded a 4% CAGR compared to Europe’s and Latin America’s 1.7% from 2010 to 2019. The report also stated that Africa is also recording faster growth ...
News about Chinese banks expanding operations in Nigeria made the rounds last month and could prove pivotal to the effectiveness of cross-border trade between both countries. China is Nigeria’s ...
The latest startup and technology news coming out of Nigeria. Fintech Conduit’s cross-border payments expand from LatAm into Africa with $6M round. Tage Kene-Okafor. 2 days ago.
The annual Nigerian Economic Summit (NES) is organised in collaboration with the Federal Ministry of Budget and National Planning. The Summit is a yearly gathering of high-level public and private sector leaders in Abuja, the nation’s capital, for dialogue on Nigeria’s economic management.
SMEs are the force behind Nigeria’s economy accounting for 96% of businesses and 84% of employment in the country. However, a lack of access to credit continues to hinder their growth and limit ...
According to a recent report by Naija News, the parallel market exchange rate of the naira to the U.S. dollar is around ₦1483 per 1 USD, significantly higher than the official Central Bank of Nigeria rate. This disparity highlights underlying economic challenges and market pressures. [70] Rate of the Nigerian naira for US$1 (1994–2005)