Nigeria’s foreign exchange market is facing renewed tension as Bureau De Change (BDC) operators struggle to stay afloat following the Central Bank of Nigeria’s (CBN) decision to stop selling dollars directly to them. The move, which the apex bank said was aimed at curbing market abuse and speculative trading, has left thousands of licensed forex…
Nigeria is ramping up fiscal reforms to stabilize public finances and attract investment, even as debt obligations rise amid global economic pressures. The government has stepped up subsidy rationalization, tax collection, and expenditure control to narrow the budget deficit, currently around 5% of GDP. Analysts warn that over 60% of revenue goes to debt servicing,…
Global rating agency, Fitch Ratings has warned that Nigeria’s fiscal deficit could widen in 2025–2026 as election-related spending pressures mount.In its latest review, Fitch reaffirmed Nigeria’s “B” Stable rating but projected the deficit to rise to around 3.1% of GDP, driven by wage increases, campaign projects, and social programmes ahead of the election cycle. The…
