Nigeria’s economy grew by 4.43% in the second quarter of 2026, according to the National Bureau of Statistics (NBS), marking an improvement from 3.89% in Q1 and 4.23% in the same period last year. The figure gives the government another reason to point to economic recovery. But the more interesting question is whether Nigeria’s economic…
Nigeria is heading into the second half of 2026 with a mixed economic picture: the economy appears to be gaining momentum, but the naira remains under pressure and borrowing costs are still extremely high. A BusinessDay nowcast estimates that Nigeria’s economy could grow by 4.5% in Q2 2026, which would make it the fastest second-quarter…
Nigeria’s public debt has exceeded the government’s debt sustainability threshold after the Federal Government borrowed 61.2% more than originally budgeted to finance a wider-than-expected fiscal deficit in 2024, according to data from the Budget Office analyzed by BusinessDay. The report showed that total public debt rose to ₦144.67 trillion, pushing the country’s debt-to-GDP ratio to…
The African Development Bank (AfDB) has warned that a potential “Super El Niño” weather event could inflict between $10 billion and $20 billion in economic losses across Africa, with Nigeria listed among the countries at risk of severe impacts. Speaking to Reuters, AfDB Director for Climate Change and Green Growth, Anthony Nyong, said the anticipated…
Abia State is set to host a $145 million solar panel manufacturing plant following a public-private partnership between MD Nwakanma Nigeria Limited and Chinese investors, in a move expected to strengthen the state’s industrial base and expand Nigeria’s renewable energy sector. The facility will be located in Umuelele, Isiala Ngwa South Local Government Area, with…
