Current nigerian economic news

Here are some current Nigerian economic news:

Inflation Rate

• Nigeria's inflation rate rose to 17.26% in June 2022, according to the National Bureau of Statistics (NBS). This is the highest inflation rate in over 17 years. (Source: NBS)
• The Central Bank of Nigeria (CBN) has attributed the high inflation rate to factors such as the COVID-19 pandemic, supply chain disruptions, and the impact of the Russia-Ukraine conflict on global commodity prices. (Source: CBN)

Economic Growth

• Nigeria's economy grew by 3.11% in the first quarter of 2022, according to the NBS. This is a significant improvement from the 0.96% growth recorded in the same period last year. (Source: NBS)
• The CBN has projected that Nigeria's economy will grow by 2.5% in 2022, driven by increased agricultural production, improved infrastructure, and a stable exchange rate. (Source: CBN)

Exchange Rate

• The naira has continued to depreciate against the US dollar, with the exchange rate currently standing at around N570 to the dollar. (Source: Bloomberg)
• The CBN has introduced various measures to stabilize the exchange rate, including the introduction of a new foreign exchange window and the restriction of foreign exchange transactions to authorized dealers. (Source: CBN)

Fiscal Policy

• The Nigerian government has announced plans to increase its revenue by 20% in 2022, through measures such as increasing taxes, improving tax collection, and increasing non-oil revenue. (Source: Federal Ministry of Finance, Budget and National Planning)
• The government has also announced plans to reduce its fiscal deficit by 50% in 2022, through measures such as reducing capital expenditure and increasing revenue. (Source: Federal Ministry of Finance, Budget and National Planning)

Agricultural Sector

• Nigeria's agricultural sector has continued to grow, with the sector contributing 22.3% to the country's GDP in the first quarter of 2022. (Source: NBS)
• The government has announced plans to increase agricultural production and reduce imports, through measures such as increasing funding for agricultural research and development, and improving agricultural infrastructure. (Source: Federal Ministry of Agriculture and Rural Development)

Energy Sector

• Nigeria's energy sector has continued to face challenges, with the country experiencing regular power outages and fuel shortages. (Source: Bloomberg)
• The government has announced plans to increase power generation and distribution, through measures such as increasing funding for the power sector and improving the efficiency of power distribution companies. (Source: Federal Ministry of Power)

Other News

• The Nigerian government has announced plans to increase its borrowing to fund its budget, with the country's debt stock expected to reach N38 trillion by the end of 2022. (Source: Federal Ministry of Finance, Budget and National Planning)
• The government has also announced plans to increase its investment in infrastructure, with a focus on projects such as roads, bridges, and railways. (Source: Federal Ministry of Works and Housing)

I hope this information is helpful.