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The International Monetary Fund, IMF, has projected that Nigeria's economy will recover from recession in 2017. IMF's latest World Economic Outlook (WEO) says Nigeria Gross Domestic Product (GDP) will grow by 0.8 percent in 2017 and 2.3 percent in 2018, buoyed by increased crude oil production...

Central Bank of Nigeria's efforts to save the naira against other foreign exchange has crumbled, the International Monetary Fund (IMF) has said. The IMF also said the challenges around foreign exchange in Nigeria have pushed inflation to double digits in Africa’s largest economy. In its policy...

The international monetary fund, IMF, has offered a zero interest loan to Nigeria and other nations with economic woes in a bid to help them out of their economic quagmire. "Despite signs of recovery and resilience in some economies, global growth continues to disappoint, with the expected...

The International Monetary Fund, IMF, has raised alarm about Nigeria's debt profile and the negative effects its harsh economy will have on surrounding countries. Catherine Pattillo, the Assistant Director and Head of Fiscal Policy and Surveillance Division of IMF expressed worry over...

The International Monetary Fund has predicted that the Nigerian economy will move out of recession and grow by 0.6% in 2017. Nigeria’s real Gross Domestic Product is expected to increase marginally by 0.6% with Consumer Prices rising by 17.1%, according to IMF’s World Economic Outlook report...

Nigeria's Vice president, Prof. Yemi Osinbajo has reacted to the just released GDP figures for the 2016 second quarter by the National Bureau of Statistics. The vice president confirmed a temporary decline, saying it also indicated an hopeful expectation in the country's economic trajectory. A...

An appeal court has ruled that Christine Lagarde, the head of the International Monetary Fund, will stand trial over a state payout to the French tycoon Bernard Tapie. She is charged with negligence over the award to Mr Tapie of €404m ($445m; £339m) in 2008 when she was France's economy...

The Nigerian naira on Tuesday immediately reacted to the International Monetary Fund adjustment on Nigeria's economic outlook for 2016 by sliding to all time low at the inter-bank market. The Naira weakens 3.4% to N293.25 to a dollar at 3:23pm in Lagos, the commercial hub of Nigeria. The...

The International Monetary Fund (IMF) has again revised growth projections for Nigeria and other sub-Saharan African countries, saying that the Africa’s largest economy will probably contract by 1.8 percent this year. In an update on its latest World Economic Outlook (WEO), the IMF said on...

The International Monetary Fund (IMF) says that the Nigerian economy “will probably” shrink in 2016, performing below the IMF forecast for the country. IMF resident representative in Nigeria, Gene Leon, who spoke in Abuja on Monday identified energy shortages and delayed budget weigh on...

The International Monetary Fund, IMF, has welcomed the decision by the Central Bank of Nigeria to abandon its currency peg and adopt a flexible exchange rate policy. According to IMF spokesman Gerry Rice, the move was important to reduce fiscal and external imbalances in Nigeria's economy. "I...

President Muhammadu Buhari in Abuja yesterday, told editors and newspaper executives in a brief interview to mark the administration’s first year in office that the biggest shock he had during the past year as President. On Naira Devaluation: He said in the course of its history Nigeria...

The Central Bank of Nigeria governor, Godwin Emefiele, on Saturday, hinted at a probable increase in lending rates sequel to the unrelenting headwinds that keep pushing up the nation’s inflation rate. Emefiele, who spoke with journalists on the sidelines of the ongoing World Bank/IMF Spring...

Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, has said no decision has yet been taken on the foreign exchange controls put in place last year. Reacting to speculations that the CBN might have bowed to pressures from the National Assembly, the International Monetary Fund and...

Nigeria needs more flexibility in setting monetary policy so it can use its foreign currency reserves to support the poor population if low oil prices persist, said International Monetary Fund Managing Director Christine Lagarde, Bloomberg reports. “With a very clear ambition to support the...