IMF excludes Nigeria from list of Africa’s fastest-growing economies, calls for deeper reforms. Nigeria has been left out of the International Monetary Fund’s latest list of Africa’s fastest-growing economies, sparking fresh discussions about the country’s sluggish growth and persistent structural challenges. In its newly released Regional Economic Outlook for Sub-Saharan Africa, the IMF highlighted countries such as Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda as the continent’s top performers, projecting regional growth to stabilize around 4.1 percent in 2025. Despite being Africa’s largest economy, Nigeria failed to make the list, reflecting what analysts describe as a combination of weak reforms, high inflation, and over-dependence on oil revenues. The IMF also warned that many African nations, including Nigeria, face growing fiscal pressures as governments turn to domestic banks for financing amid limited external funding opportunities. According to the report, these fiscal and monetary imbalances, along with rising inflation and exchange-rate instability, continue to dampen Nigeria’s growth outlook. The Fund advised countries in the region to adopt sound fiscal policies, strengthen revenue mobilization, and diversify their economies to cushion against global shocks. Experts say Nigeria’s omission underscores the urgent need for deeper reforms in public finance, infrastructure, and governance. While some progress has been made under ongoing policy adjustments, the IMF’s findings suggest the country still lags behind peers that have successfully implemented aggressive economic diversification and investment-friendly strategies.

Ailing Finance Minister Wale Edun Flies to UK for Medical Treatment. Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reportedly travelled to the United Kingdom to undergo medical treatment following an undisclosed illness. Sources confirmed that the minister left Abuja for Lagos on Monday night before boarding a British Airways flight to London later in the evening. His departure comes days after reports emerged that he had been battling health challenges that prevented him from attending the ongoing World Bank and International Monetary Fund (IMF) Annual Meetings in Washington, D.C. Earlier, the Presidency had disclosed that Edun was recuperating in Nigeria and dismissed rumours suggesting that he suffered a stroke. A senior official, who spoke on condition of anonymity, clarified that while the minister was indeed ill, claims of a severe incapacitation were false. Despite the development, the Presidency has maintained that there are no immediate plans to replace Edun, stressing that he remains in charge of the Finance Ministry and is expected to resume duties once he recovers. The specific nature of the minister’s illness has not been made public, and officials have yet to issue any formal statement on his current condition or expected return date. His absence, however, has sparked renewed debate over the state of Nigeria’s healthcare system and the recurring trend of public officials seeking medical attention abroad. Edun, a former investment banker and long-time associate of President Tinubu, has been central to the administration’s fiscal reform agenda, including efforts to stabilise the naira, boost investor confidence, and implement the government’s medium-term economic plan. As of press time, no official update had been released by the Ministry of Finance or the Presidency regarding the minister’s health status or progress.

"Nigeria’s Debt has Climbed to just ₦152.4 trillion" — DMO informs Nigerians. Nigeria’s total public debt stock has surged to ₦152.40 trillion as of June 30, 2025, according to fresh data released by the Debt Management Office (DMO) on Saturday. This marks an increase of ₦3.01 trillion from the ₦149.39 trillion recorded in March 2025 —a 2.01% rise within just three months. In dollar terms, the figure rose from $97.24 billion to $99.66 billion, reflecting a 2.49% uptick. The DMO attributed the rise to increased borrowing both locally and internationally to fund fiscal gaps, despite ongoing revenue reforms and foreign exchange liberalisation. A breakdown shows external debt grew from $45.98 billion in March to $46.98 billion (₦71.85tn) by June. The World Bank remains Nigeria’s largest external creditor with $18.04 billion outstanding, representing 38% of total external obligations, mostly through the International Development Association. Multilateral lenders collectively hold $23.19 billion (49.4%), including the African Development Bank, IMF, and Islamic Development Bank. Bilateral loans stood at $6.20 billion, led by China’s Exim Bank at $4.91 billion, followed by France, Japan, India, and Germany. Commercial loans, primarily Eurobonds, amounted to $17.32 billion, representing 36.9% of external debt, while $268.9 million came from syndicated facilities and commercial bank loans. Analysts warn that Nigeria’s heavy Eurobond exposure increases its vulnerability to global market volatility. On the domestic front, total debt climbed from ₦78.76 trillion in March to ₦80.55 trillion in June, an increase of ₦1.79 trillion or 2.27%. Federal Government bonds dominated with ₦60.65 trillion, representing 79.2% of local debt. This includes ₦36.52 trillion in naira bonds, ₦22.72 trillion in securitised Ways and Means advances from the CBN, and ₦1.40 trillion in dollar bonds. Other instruments comprised Treasury bills (₦12.76tn), Sukuk bonds (₦1.29tn), savings bonds (₦91.53bn), green bonds (₦62.36bn), and promissory notes (₦1.73tn).

Femi Falana: “No Country Has Removed Subsidies Completely” Human rights activist and Senior Advocate of Nigeria (SAN), Femi Falana, has argued that no nation in the world has ever completely abolished subsidies. Falana made this remark in a video shared on the official X (formerly Twitter) handle of Channels TV on Sunday, September 14, 2025. He was responding to questions on whether President Bola Ahmed Tinubu’s decision to remove fuel subsidy was the right move. According to him, even developed nations like the United States, United Kingdom, and France still subsidize critical sectors such as electricity, agriculture, and essential services. “There is no way you can remove subsidy. There is no country in the world that has abolished subsidies completely. Even leading western countries like the United States, United Kingdom, and France still subsidize electricity, agriculture, and many aspects of their people’s lives. As a matter of fact, it’s the IMF and World Bank that insisted government must remove all subsidies,” Falana said. He further stressed that the removal has placed an immense burden on Nigerians, worsening the cost of living. The legal luminary maintained that instead of bowing to pressure from international financial institutions, the government should prioritize policies that safeguard the welfare of its citizens.

Nigeria does not appear on the list of the top 10 African countries with the highest IMF credit outstanding as of July 21, 2025. That ranking includes nations such as Egypt, Côte d’Ivoire, Kenya, Angola, and others—but Nigeria is absent (Business Insider Africa). Reports also confirm that Nigeria has repaid its major IMF obligation, including the $3.4 billion emergency COVID-19 loan, which was fully settled by April 2025 (Reuters). In short, Nigeria is not only missing from the IMF’s top debtor list but has also taken concrete steps to clear its outstanding commitments to the Fund.

Africa Doesn't Need the World Bank, IMF, Europe, or America. We have what it takes to grow our economy without loans and refuse to be financial slaves." ~Ibrahim Traore (President of Burkina Faso) Do you agree with him ? A. YES B. NO

Newsbrief: Julius Malema Calls for One Africa at NBA Conference South African opposition leader Julius Malema has renewed calls for a united Africa under one president, one parliament, one currency, and a single military command. Speaking at the Nigeria Bar Association’s Annual General Conference in Enugu, the Economic Freedom Fighters (EFF) president urged leaders to dismantle colonial-era borders, promote visa-free movement across the continent, and build industries that process Africa’s own resources. Malema praised Nigeria’s role in supporting South Africa during the anti-apartheid struggle, urging both countries to lead African industrialisation and the African Continental Free Trade Area. He also cautioned against reckless foreign borrowing, calling World Bank and IMF loans “debt traps.” “Africans must refuse to be subjects of others. Our salvation lies in Lagos, Johannesburg, Abuja, and Pretoria — in the hands of Africans who refuse to be divided,” he told thousands of lawyers at the event. #UnitedAfrica #JuliusMalema #AfricanUnity #NBAConference

Newsbrief: African Nations Must Regulate ‘Debt Trap’ Loans — Malema South African opposition leader Julius Malema has warned African nations against “debt trap” loans from the World Bank, IMF, and similar institutions, saying such borrowing can mortgage the continent’s future. Speaking at the Nigeria Bar Association Annual General Conference in Enugu, Malema highlighted South Africa’s Public Finance Management Amendment Bill, aimed at requiring parliamentary approval for foreign loans and ensuring transparency in their terms. He also called for stronger Nigeria–South Africa cooperation in industrialisation, resource processing, and economic self-sufficiency, asserting that Africa’s future lies within the continent, not in foreign capitals. By Emmanuel Egobiambu | Updated August 24, 2025 #AfricaDebtCrisis #JuliusMalema #EconomicFreedom #NigeriaSouthAfricaPartnership

Police Bust Drug Cartel, Arrest 4 Suspects In Akwa Ibom. Operatives of Akwa Ibom Police Command on the offensive against drugs and associate crimes have busted a cartel of peddlers and abusers of illicit substances in various locations, arresting four suspects in the process. Police Public Relations Officer (PPRO), Akwa Ibom Command, DSP Timfon John who stated this on Sunday in Uyo, explained that the arrest followed intense raid of criminals’ black spots in the metropolis. Timfon said large quantities of different drugs including Indian hemp, known in local parlance as ‘Ikong Ekpo’ were recovered from the suspects. “Based on credible information, operatives of the Command conducted series of raids on several suspected illicit drug black spots within the Uyo metropolis. The coordinated operation led to the arrest of four male suspects and recovery of large quantities of illicit drugs,” she said. The Police spokesperson listed the suspects as one Gideon Patrick Edet, Paul Joseph Effiong, Mfon Cletus Ikpe and Gideon Edet Etim. As investigations continue, Miss John vowed that no stone would be left unturned in the fight against illicit drugs and other unwholesome practices. She assured that the Commissioner of Police in the state, CP Baba Azare would sustain the tempo of crime -fighting, and urged criminal elements to change or be ready to face the superior firepower of security agencies. Timfon, therefore, solicited for support from member of the public in intelligence sharing on suspicious characters around their neigbourhoods for quick response by operatives to nib crimes in the bud.

Police Smash Robbery Syndicate, Recover Stolen Items In Akwa Ibom The Akwa Ibom State Police Command says it has arrested a notorious cultist and armed robbery suspect terrorising residents of Ikot Ekpene Local Government Area. Command spokesperson, Timfon John, confirmed that the suspect, Inima Sunday Akpan from Ini LGA, was arrested on Thursday after hiding in Ibiaku Village. He has been linked to multiple robbery attacks in Ikot Otor, Ikot Uboh, and Ikot Osurua, where a lawyer was shot and others injured. Recovered items include a new Daylong motorcycle, a 32-inch TV, an LG home theatre, an amplifier, and a foam. The suspect reportedly confessed, and investigations are ongoing. #AkwaIbom #Police #CrimeWatch #Security

“Stop Borrowing, IMF & CBN Are Deceiving You” — Primate Ayodele Sends Divine Warning to President Tinubu The Leader of the INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has revealed a divine message he says was directed by God to President Bola Ahmed Tinubu for Nigeria’s progress. Speaking during a church service, the cleric urged the President to halt further borrowing, warning that international financial bodies like the IMF and domestic institutions such as the CBN are “deceiving” him. Primate Ayodele cautioned that while the country may appear to be progressing to the President, it is actually “packaging and depreciating every day.” Although he predicted that Tinubu might initially dismiss the revelation, the cleric insisted the advice is crucial for Nigeria’s growth and stability. #Tinubu #PrimateAyodele #Nigerianews #IMF #CBN #Economy #Prophecy #DivineWarning #StopBorrowing

Africa Doesn't Need the World Bank, IMF, Europe, or America. We have what it takes to grow our economy without loans and refuse to be financial slaves." ~Ibrahim Traore (President of Burkina Faso) Do you agree with him ? A. YES B. NO

Police Arrest Two Suspected Transformer Vandals in Akwa Ibom The Akwa Ibom State Police Command has arrested two suspects for allegedly attempting to vandalize a transformer in Ikot Imoh village, Ikot Abasi LGA. According to the command’s spokesperson, DSP Timfon John, the suspects were apprehended around 5:45 a.m. on Thursday, July 17, following a distress call from a concerned resident reporting suspicious activity near the transformer installation. Police operatives responded swiftly and caught two suspects at the scene, while other gang members fled. The suspects were identified as Asuquo Effiong (29), from Ibesikpo Asutan LGA, Akwa Ibom, and Chidiebere Onwe (30), from Nkanu LGA, Enugu State. Recovered items included two 17-combination flat spanners, a hose pipe, a heavy-duty cutter, and a pipe wrench with socket. The police confirmed that investigations are ongoing and the suspects will be charged to court upon conclusion.

JUST IN: Presidency Rejects IMF Report on Nigeria’s Inflation, Poverty. The Nigerian Presidency has rejected a recent International Monetary Fund (IMF) article that raised concerns over the country’s economic trajectory. The government has labelled the report as a “very fatalistic” and unhelpful assessment of ongoing reforms. In its July 7 publication titled “How Nigeria Can Unleash Its Economic Potential,” the IMF acknowledged that President Bola Tinubu’s administration had initiated important reforms, such as the removal of fuel subsidies and exchange rate unification, but warned that the impact had been slow in reducing inflation, tackling poverty, or strengthening investor confidence. The Fund noted that inflation remained persistently above 20 per cent, food insecurity had deepened, and recommended firmer monetary policy, effective budgetary discipline, and better redistribution of fuel subsidy savings into critical infrastructure and social safety nets. “The country needs stronger and more sustained growth to lift millions out of poverty and food insecurity,” the IMF stated, while also encouraging the Federal Government to align its tax rates with regional benchmarks once the national cash transfer system is fully functional. However, in reacting to the IMF’s remarks, the Special Adviser to the President on Economic Affairs, Tope Fasua, faulted the tone and timing of the Fund’s message, describing it as both discouraging and destabilising. Speaking on Channels Television’s The Morning Brief on Tuesday, Fasua said: “This administration under President Tinubu has done some of the deepest reforms that we have seen in a while. We only just got the tax bills signed into law—bills that offer relief to low-income earners and double the tax threshold for small businesses.

"Africa doesn’t need the World Bank, IMF, Europe, or America. We have what it takes to grow our economy without loans and refuse to be financial slaves." — Ibrahim Traoré, President of Burkina Faso Do you agree with this statement? A. YES B. NO

See what is posted on President Bola Ahmed Tinubu X handle. “ Two years ago, you entrusted me with the sacred responsibility to lead our nation at a time of historic challenges. Together, we faced those headwinds with courage and determination. The economic and general situation I inherited required that we redirect the country’s affairs with a bold and new vision. I immediately implemented two necessary policies—to stop our country from drifting into the precipice. We removed decades-long fuel subsidies and dismantled the corruption-ridden multiple exchange rate windows. These were no longer sustainable and had become a chokehold on our nation’s neck, strangling our future. Let me be clear: the only alternative to the reforms we initiated was a fiscal crisis—runaway inflation, external debt default, crippling fuel shortages, a plunging Naira, and an economy in free-fall. Despite the bump in the cost of living, we have made undeniable progress. Inflation has begun to ease. Rice prices and other staples are declining. Our oil and gas sector is recovering—rig counts are up by over 400%, and over $8 billion in new investments have been committed. We have stabilised our economy. We’re better positioned for growth and prepared to withstand global shocks. Gross proceeds per barrel are aligned with forecasts. Fiscal deficit narrowed from 5.4% of GDP in 2023 to 3.0% in 2024. We recorded over N6 trillion in revenue in Q1 of this year. We have discontinued Ways & Means financing. The NNPC, no longer burdened by unsustainable fuel subsidies, is now a net contributor to the Federation Account. We are achieving fuel supply security through local refining. Our debt service-to-revenue ratio dropped from nearly 100% in 2022 to under 40% by 2024. We paid off IMF obligations. Our net external reserves grew from $4 billion in 2023 to over $23 billion by the end of 2024. Under our bold tax reform agenda, our tax-to-GDP ratio rose from 10% to over 13.5% in just one year. Food, education, and healthcare now attract 0% VAT. Rent, public transport, and renewables are fully exempted. We’re eliminating multiple taxation and protecting disposable incomes—especially for low-income households and small businesses. This is not just about revenue. It is about inclusive economic growth. This is about economic justice. This is the movement we promised—a government of action powered by the energy and innovation of young Nigerians. From Innovate Naija and NASENI’s digital reboot, to electric vehicle assembly and drone engineering, we are restoring dignity to work and opening a future of possibilities. I told security chiefs: up your game and collaborate to end this plague of evil men. Every Nigerian deserves to live without fear. We shall remain vigilant. We are preparing to welcome the world to Nigeria for the Motherland Festival—a landmark gathering that will spotlight our rich heritage, vibrant creative industries, and the beauty of our people. It will showcase Nigeria’s promise—inviting the world to rediscover our nation. Our journey is not over, but our direction is clear. So is our resolve. By the Grace of God, the worst is behind us. The real impact of our governance is beginning to take hold. The future is bright—and together, we will build a stronger, more inclusive Nigeria. Bet on Nigeria. ~ PBAT #HopeRenewed #NigeriaRising #BetOnNigeria

JUST IN: Fubara Praises Tinubu for 'Timely Intervention' That Saved Rivers State from Collapse According to NigeriaStories, Rivers State Governor Sim Fubara has credited President Bola Tinubu with salvaging a dire political crisis in the state, saying the president “came in at the right time” and helped prevent a total breakdown of governance. In a striking statement, Fubara acknowledged that an emergency rule-like intervention by the federal government played a crucial role in stabilizing the situation. Rivers State had faced intense political turmoil marked by internal rifts and power struggles that threatened to paralyze governance. Fubara’s remarks are being seen as a rare public endorsement of President Tinubu’s crisis management approach, adding weight to the argument that federal mediation remains critical in preserving democracy and state stability in Nigeria. #SimFubara #PresidentTinubu #RiversStateCrisis #NigeriaPolitics