Nigeria’s economy grew 3.46% year on year in the third quarter of 2024, quicker than in the first two quarters of this year, statistics agency data showed on Monday.
Despite the pickup in economic growth, from 3.19% in the second quarter and 2.98% in the first, the growth rate is still short of the 6% target set by President Bola Tinubu when he took office last year in Africa’s most populous nation.
Tagged with: Economy
The Nigerian Senate has approved President Bola Tinubu’s proposal to secure over $21 billion in external financing to cover the country’s 2025 budget deficit. The request was first submitted to Parliament back in May. According to Senate Appropriations Committee Chairman Solomon Adeola, this move will fully finance the national budget and support the implementation of strategic programs. The borrowing package includes:✅ $4.7 billion (€4 billion equivalent),✅ $102.26 million (¥15 billion equivalent),✅ $65 million in grants,✅ $2 billion from domestic sources. ...
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