Currency in circulation drops to N5tn – Report –

 The total amount of naira in circulation decreased to N5tn as of March 2025, marking a decline from N5.04tn recorded in February 2025. This represents a further reduction from N5.24tn in January 2025, according to the latest money and credit statistics on the website of the Central Bank of Nigeria. Naira in circulation is the total amount of physical currency circulating in the economy, representing money that is available for daily transactions, investments, and savings. A decrease in currency in circulation can be part of efforts to reduce inflationary pressures and manage economic stability….(Read More)

 Nigeria’s rebased inflation to hit 37% in 2026 – IMF –

Nigeria’s headline inflation is projected to rise sharply to 37 per cent in 2026, according to the International Monetary Fund, which issued the forecast in its April 2025 World Economic Outlook report released on Tuesday. The IMF said the new projection follows the rebasing of Nigeria’s Consumer Price Index by the National Bureau of Statistics in January 2025, and warned that persistent price pressures and structural constraints would likely keep inflation elevated over the medium term. According to the Fund, inflation, which averaged 33.2 per cent in 2024, is expected to moderate slightly to 26.5 per cent in 2025 before surging to 37.0 per cent the following year……….(Read More)

 NGX posts N318bn gain after Easter break –

The Nigerian Stock Exchange market capitalisation rose by N318bn after resuming trading following the Easter break. The market ended the day’s session with a total market value of N65.8tn, an increase of 0.49 per cent compared to the previous trading day. The All-Share Index has gained 1.77 per cent year-to-date, with a slight 0.17 per cent rise over the past week, but a 0.16 per cent drop in the last four weeks. A total of 353,283,914 shares, valued at N7.2bn, were traded across 13,734 deals. While there was a 6 per cent drop in volume and a nine per cent decrease in turnover compared to the previous session, the number of deals surged by 23 per cent….(Read More)

60m barrels of crude oil unsold as local refineries suffer low supply –

There is no end in sight to the challenges faced by local refineries in sourcing crude oil with more than 60 million barrels of Nigerian crude oil said to be reportedly stranded and unsold, documents sighted by Daily Trust revealed. The crude oil is said to be floating in the high seas while local refineries continue to struggle amidst low crude supply locally. Inside sources raised concern over the challenges faced by local refineries despite warning by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) that crudes meant for domestic refineries should not be exported. The NUPRC Chief Executive Gbenga Komolafe in a letter dated 2 February 2025, warned oil firms that crude designated for domestic refining must not be exported……..(Read More)

IMF Lowers Nigeria’s 2025 Growth Forecast To 3.0% On Weakening Oil Price –

 The International Monetary Fund (IMF) has revised downward Nigeria’s economic growth projections for 2025 and 2026, to 3.0 for 2025 and 2.7 for 2026 as global uncertainties grow and sustained weaknesses in oil prices impact the country’s economy. This is as it sees a growing probability of a recession from per cent in October to 40 per cent. The World Economic Outlook (WEO), for April released on Tuesday projected a slowing in global growth with Nigeria growth cut from 3.2 per cent and 3.0 per cent for 2025 and 2026 in the January issue of the WEO. The Fund attributed the downgrade to a mix of domestic challenges and worsening global conditions, including trade tensions, slowing demand from advanced economies, and a sharp decline in crude oil prices….…(Read More)

Biggest US retailers, Walmart and Target, meet Trump over tariffs and bad US business –

According to Bloomberg, President Donald Trump held a high-level meeting with American retailers on Monday. Retail businesses are grappling with the economic downturn caused by tariffs. Walmart Inc., Target Corp., Home Depot Inc., and Lowe’s Cos. executives were present at the White House to discuss alleviating trade tensions. The gathering came after a 90-day pause in Trump’s implementation of levies on imports from several trading partners, a window that foreign leaders and US corporations alike are using to renegotiate more favorable trade conditions. Retailers have been some of the hardest hit by Trump’s trade policies, particularly due to their reliance on global supply chains….(Read More)