Nigeria Digest: July 22, 2025

Nigeria's economic reforms have contributed to reduced inflation and increased foreign reserves, boosting stability in the forex market. Analysts expect sustained FX liquidity to continue supporting naira stability in the near term.

Nigeria's central bank has maintained the benchmark interest rate at 27.5% to combat persistent inflationary pressures. While inflation in some advanced economies has slowed, the central bank remains cautious about potential upward risks in emerging markets.

Nigeria's debt servicing costs have fallen below 50% of its revenue due to economic reforms implemented by the government. This significant decrease reflects the government's efforts to manage its finances and reduce its debt burden.

Tax evasion and illicit financial flows by multinational corporations cost Nigeria an estimated $18 billion annually. The loss of revenue highlights the need for urgent action to strengthen tax laws and combat these practices.