Economy

IMF Revises Nigeria’s 2024 Economic Growth Forecast Downward to 2.9%

Published

1 year ago

October 23, 2024

Kayode Sanni-Arewa

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The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth forecast to 2.9% for 2024, citing several challenges, including insecurity in oil-producing regions, the effects of flooding, and lower-than-expected activity in the first half of the year. This revision was disclosed in the IMF’s latest Global Economic Outlook report, released on Tuesday.

Previously, the IMF had projected Nigeria’s economy to grow by 3.3% in April, which was later adjusted to 3.1% in July. However, further disruptions in oil production and other economic hurdles have prompted a more cautious estimate.

The report, presented by Pierre-Olivier Gourinchas, Director of the IMF’s Research Department, and Daniel Leigh, Division Chief, outlined the specific challenges facing Nigeria, which are common among emerging and developing economies. The combination of civil unrest, insecurity, and extreme weather conditions continues to weigh on the country’s economic prospects.

In emerging market and developing economies, disruptions to production and shipping of commodities—especially oil—conflicts, civil unrest, and extreme weather events have led to downward revisions to the outlook for the Middle East and Central Asia and that for sub-Saharan Africa,” part of the report read.

Globally, the IMF forecast remains stable, but growth is expected to remain modest. The fund estimates that global growth will stabilise at 3.1% over the next five years, a rate the IMF described as “mediocre” compared to pre-pandemic levels.

Economy

Five good camera phone alternatives to Samsung Galaxy S25

Published

1 day ago

January 18, 2026

Admin

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For smartphone users who prioritise camera performance over brand loyalty, several devices in 2026 now rival—or surpass—the Samsung Galaxy S25 in photography and videography. Equipped with larger high-resolution sensors, advanced cinematic video capabilities, and cutting-edge computational imaging, these phones deliver flagship-quality results that cater to both casual shooters and professional content creators.

Here are the best camera-centric smartphones you can confidently choose instead of Samsung’s Galaxy S25 right now.

1. iPhone 17

The iPhone 17 brings polished imaging with dual 48MP cameras, sensor-shift stabilisation and Dolby Vision HDR video. Its consistent colour science, strong video recording and reliable autofocus make it a dependable camera phone. For users focused on video quality and ecosystem polish, it remains a solid alternative to Samsung’s Galaxy S25.

2. Oppo Find X9

The Oppo Find X9’s triple 50MP camera setup covers wide, periscope zoom and ultrawide shots with ease. Hasselblad colour science, Dolby Vision video, 10-bit LOG recording and strong stabilisation help it capture professional-looking photos and videos that clearly outshine the Galaxy S25’s imaging capabilities.

3. Vivo X300

Vivo X300 is a photography powerhouse led by a massive 200MP primary sensor. Paired with a 50MP periscope telephoto, 50MP ultrawide camera and Zeiss optics, it delivers exceptional detail and dynamic range. Smooth high-frame-rate 4K video and a sharp 50MP selfie camera make it a stronger camera phone than the Galaxy S25.

4. Google Pixel 10

Google Pixel 10 sports a 48MP main camera, 13MP ultrawide and true 5x telephoto produce natural colours and impressive dynamic range. Ultra HDR, AI-powered processing and reliable 4K video make it a smarter camera-focused choice over the Galaxy S25.

5. OnePlus 15

The OnePlus 15 offers excellent value with its triple 50MP camera system powered by Sony’s IMX906 sensor. A 3.5x telephoto lens, 8K video support, Dolby Vision HDR and advanced stabilisation ensure consistent results. It delivers more versatile photography and video performance than the Galaxy S25 at a competitive price.

Economy

Latest Dollar To Naira Exchange Rate Update

Published

1 day ago

January 18, 2026

Admin

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The naira continued to face pressure against the United States dollar at the parallel market, as trading activities reflected elevated exchange rates on Thursday, January 15, 2026.

Market observations indicate that the dollar was sold on Thursday, 15, 2026, at ₦1,480 and purchased at ₦ 1,450 by operators at the Lagos-based parallel market, commonly referred to as the black market.

Currency dealers, particularly Bureau De Change (BDCs) operators, confirmed that these rates represented the prevailing conditions at the close of trading, highlighting sustained demand for foreign exchange amid limited supply.

The figures suggest that individuals seeking to exchange dollars for naira at the informal market were required to transact within this range. However, rates may differ slightly depending on location and negotiation.

Meanwhile, data obtained by BrandNewsDay shows that the Central Bank of Nigeria’s official exchange window recorded lower rates for the same period. At the official market, the dollar exchanged between ₦1,430 and ₦1,455, reflecting a notable gap between the regulated and unregulated forex segments.

It is important to note that the Central Bank of Nigeria does not recognise transactions conducted at the parallel market and has consistently advised individuals and businesses seeking foreign exchange to channel their demands through commercial banks and approved financial institutions.

What You Should Know: Dollar-Naira Black market rate.

According to Bureau De Change (BDC) sources in the Ogba and Ikeja axis of Lagos state, the exchange rate for a dollar to naira at the Parallel Market (Black Market) was N1,455 on Thursday, January 15, 2026. The U.S. Dollar was bought at N1430-N1450 and sold for N1480.

Bureau De Change (BDC) sources in Gwarimpa and Gwagwalada in FCT buy a dollar for N1430 to N1455 and sell it between N1460 to N1480 on Thursday, January 15, 2026.

Market analysts caution that exchange rates may fluctuate, as forex prices are influenced by demand, supply, and regional market dynamics, meaning actual buying or selling rates may vary from those.

Please note that the rates you buy or sell forex may differ from what is captured in this article because prices vary from state to state across Nigeria.

Economy

See Black Market Dollar To Naira Exchange Rate Today 16th January 2026

Published

3 days ago

January 16, 2026

ADMIN

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Dollar To Naira Exchange Rate Today 27 January 2023(Black Market)

The Black Market Dollar to Naira Exchange Rate for 16th January 2026 Can Be Accessed Below.

NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.

The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.

Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 16th January 2026?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1500 and buy at ₦1485 on Friday 16th January, 2025, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1500
Buying Rate ₦1485
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1422
Lowest Rate ₦1418