The largest economy in Africa saw a deteriorating cost-of-living issue in November when Nigeria’s annual inflation increased for the eleventh consecutive month to the highest
Category: Africa
The World Bank and its partners will provide over $2 billion in funding for clean energy projects, enabling 17.5 million Nigerians to access power.
The International Development Association said on Friday that the World Bank’s fund for impoverished nations intends to lend $750 million for sustainable energy projects in
Nigeria can achieve growth by stabilizing the macroeconomic framework, inflation, and forex, says the World Bank.
The World Bank stated on Wednesday that to promote economic growth, Nigeria still needs to stabilize its foreign exchange market and control inflation after removing
The UN says one billion Africans are facing an unprecedented food crisis due to war and climate change.
In a study released on Thursday alongside the African Union Commission, United Nations agencies stated that at least three-fourths of Africans cannot afford a decent
Nigeria’s Central Bank directs banks to recapitalize as inflation and the free fall of the naira rattle the economy.
The Central Bank of Nigeria, led by its new governor, Olayemi Cardoso, announced on Friday that it will tighten policy during the next two quarters
Germany to invest 4 billion euros in African renewable energy initiatives utilizing local raw materials.
In an announcement on Monday, German Chancellor Olaf Scholz stated that African nations ought to gain more from their abundance of raw resources, pledging the
G20 compact summit on Africa heightens race for geopolitical influence, critical minerals, and new economic opportunities.
The goal of the G20 Compact with Africa summit, which is bringing together leaders from over a dozen African nations, is to support private investment
Russia ends black sea initiative with the first shipment of 200,000 tonnes of free grains to Africa.
As promised by President Vladimir Putin in July, Russia’s agriculture minister announced on Friday that Moscow had started sending free grain shipments to six African
Nigeria’s inflation hits 27.33% in October, the highest in 18 years, damning the new Central Bank’s policy.
October saw an increase in inflation in Nigeria for the tenth consecutive month, putting more pressure on the newly appointed governor of the central bank
Nigeria’s Cardoso says the Central Bank has no magic wand to tackle economic challenges.
Governor Olayemi Cardoso of Nigeria announced on Tuesday that the central bank will support the government’s goal of economic growth by taking on “more limited
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