🇳🇬 Nigeria Business Highlights

 



IMF Cuts Nigeria’s 2025 Growth Forecast


The International Monetary Fund (IMF) has revised Nigeria’s projected economic growth to 3.0% for 2025, citing dwindling oil revenues and global economic uncertainty. This signals a need for stronger diversification efforts within the economy.


Nigerian Stock Market Rises Despite Tariff Tensions


The Nigerian Exchange (NGX) All-Share Index climbed 0.48% this week, demonstrating investor confidence despite rising global tariff concerns. Local stocks in banking and telecoms led the rally.


UBA Sees 33% Surge in Profits


United Bank for Africa (UBA) reported a 33% increase in quarterly profits, largely driven by a surge in interest income. This solid performance reflects the bank’s strategic focus on loan recovery and expanding retail services.


ODL Expands Industrial Equipment Access


Offshore Dimensions Limited (ODL) has partnered with UNIFLEX to provide advanced industrial equipment across Nigeria, enhancing local capacity for engineering and manufacturing industries.


Nigerian Banks Go Digital


Banks in Nigeria are increasingly shifting focus from traditional loans to non-interest income models, leveraging digital banking platforms and fintech collaborations to stay competitive and profitable.

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