Tags : IMF

Debt Servicing May Gulp 100% Of FG’s Revenue By 2026

The International Monetary Fund has warned that debt servicing may gulp 100 percent of the Federal Government’s revenue by 2026.   The IMF predictions are hinged on if the government fails to implement adequate measures to improve revenue generation. The IMF’s Resident Representative for Nigeria, Ari Aisen, disclosed this while presenting the Sub-Saharan Africa Regional Economic […]Read More

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Reviewing Nigeria’s 2021 GDP Growth (1)

The National Bureau of Statistics has reported that the country’s Gross Domestic Product increased by 4.03 percent in the third quarter of 2021. This is contained in its Gross Domestic Product Report Expenditure and Income Approach report for Q3, Q4 2021. According to the report, in the third quarter of… You must be registered to […]Read More

Nigeria’s Economy To Grow By 3.4% In 2022 

The IMF revealed a 3.1 percent growth projection for the nation in 2023, down from 3.4 percent in 2022 and 3.6 percent in 2021. Nigeria’s economic projection is lower than that of the Sub-Saharan African region, which is expected to grow by 4.5 per cent in 2021, 3.8 per cent in 2021, and 4.0 per […]Read More

Poor Nigerians To Hit 95.1m In 2022

The World Bank has estimated that the number of poor Nigerians is projected to hit 95.1 million in 2022. This projection is coming as the number of Nigerians falling below poverty line continued to increase since 2015, the Washington-based bank said. It said this in its report titled, ‘A Better Future for All Nigerians: 2022 […]Read More

33% Of Global Droughts Occurs In Africa

The International Monetary Fund has said that African countries experience one-third of the world’s drought and are vulnerable to rising temperatures and extreme weather as a result of their dependence on rain-fed agriculture. The IMF stressed that a single drought can lower a country in the region’s medium-term economic growth potential by one percent. It […]Read More

Nigeria To Pay IMF $3.51bn In Five Years

The International Monetary Fund is expected to receive from the Federal Government of Nigeria a total of $3.51bn between 2022 and 2026 to offset a $3.4bn loan. This is according to information obtained from a webpage on the IMF’s website, titled ‘Nigeria: Financial Position in the Fund as of January 31, 2022.’ Recall in April […]Read More

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How Nigeria’s 2021 GDP Beats Projections

The National Bureau of Statistics, in its quarterly report, has published that the country’s Gross Domestic Product grew by 3.98 percent in the fourth quarter of 2021. This, which is considered as the strongest growth since 2014, translates to 3.4 percent as the annual GDP growth for 2021. According to… You must be registered to […]Read More

Nigeria Gross Debt To Hit N136tn In 2026

With the Debt Management Office put Nigeria’s public debt totaled N38tn as of the end September, 2021, the International Monetary Fund, the Federal Government’s gross debt profile is projected to grow by 92.11 percent from N70.85tn in 2022 to N136.11tn in 2026. The Washington based lender made this projection in a report titled ‘Nigeria Staff […]Read More

Suspension Of Petrol Subsidy Removal: Reactions And Implications

On Monday, the minister for finance, budget and national planning, Zainab Ahmed, announced President Buhari’s decision to suspend the removal of petrol subsidy for 18 months. This move is assumed to be the government’s attempt to lessen the bite of economic hardship and skyrocketing inflation rates on its people. The… You must be registered to […]Read More

IMF Cuts Global Economic Growth Forecast To 4.4%

The International Monetary Fund on Tuesday warned that the global economy might not grow at the pace it was previously predicted due to slow recoveries in the United States and China. IMF’s latest World Economic Outlook shows a downshift in global economic growth from 5.9% in 2021 to 4.4% this year as opposed to what […]Read More