Browsing: Nigeria

COVID-19: Nigeria may go into severe recession – World Bank. The World Bank says collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s.

World Bank approves $750m power sector recovery operation for Nigeria. The World Bank has approved a 750 million dollars International Development Association (IDA) credit for Nigeria’s Power Sector Recovery Operation (PSRO) to improve electricity supply.

AfDB approves $288.5m for Nigeria COVID-19 Response Support Programme

The Board of Directors of the African Development Bank has approved 288.5 million dollars loan to help Nigeria tackle the COVID-19 pandemic and mitigate its impact on people and businesses.

Ghana’s External Deficits Account Estimated to 4.4% of GDP. In the Sub-Saharan African (SSA), Ghana has been noted to have low external financing risk, though virus induced pressure is estimated to widen the country’s external deficit. The Institute of International Finance (IIF) in a report noted that the country financing risk is relatively low compare with Nigeria, Zambia others.

‘Nigeria, Ghana, SA account for more than 40% of SSA Eurobonds Issuance’

IMF approves $3.4 Billion emergency support for Nigeria

Headline inflation rate increases to 12.26% in March, says NBS

Nigeria, Angola, SA hard hit as COVID-19 drives SSA toward First Recession in 25 Years

Analysts have painted a gloomy future for Nigeria’s economy due to the recent oil shock

The Nigerian economy strengthened further in the third quarter of the fiscal year 2019 as it recorded improved productive performance.