Tag Archives: nigeria

Is Nigeria Economically Broke? Challenges And Opportunities In Africa’s Largest Economy

Is Nigeria, Africa’s largest economy, economically broke? It is a question no patriotic citizen wants to confront, yet one that confronts every Nigerian daily at the fuel pump, the market stall, the school gate, the hospital reception, and increasingly, in the national accounts. The country’s fiscal reality is no longer a debate in economic circles alone; it is a lived experience for millions and a gathering storm for future generations.

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Nigeria’s Vanishing Savings: $10bn Subsidy Removed, Yet Reserves Stuck At $41bn

When the Nigerian government scrapped the decades-old fuel subsidy in 2023, it promised relief for the nation’s bleeding finances. Nearly $10 billion was to be freed up annually, and by scrapping it, President Bola Tinubu’s administration projected that the fiscal space created could be channeled into education, infrastructure, social investment, and healthcare.

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Analysts Respond As Nigeria Partners BRICS After Half Year’s $1.27bn Foreign Investment

Nigeria recently joined BRICS as a partner country, following a surge in foreign direct investment. BRICS, an alliance of Brazil, Russia, India, China, and South Africa, was established in 2009 to promote economic, political, and cultural cooperation among its members, representing around 40% of the global population and nearly a quarter of GDP. The bloc aims to reduce dependence on …

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It’s Dishonest to Say Everything is Fine With Nigeria- Adefarasin

Pastor Wale Adefarasin of Guiding Light Assembly, Ikoyi, Lagos, has said that it would be dishonest to claim that all is well with Nigeria presently. Adefarasin, a guest at a roundtable facilitated by the Network of African Christian Journalists (NACJOURN), recently said that Nigeria has been through numerous challenges, including monumental corruption, incompetence in government, and other factors hindering the …

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