Nigeria News Digest: July 30, 2025

Ghana's central bank lowered its benchmark interest rate by 3%, from 28% to 25%, reflecting declining inflation and signs of economic recovery.

The IMF upgraded its growth forecast for Nigeria to 3.4% in 2025 and 3.2% in 2026, attributing the improvement to better economic conditions and calling for structural reforms.

Ugonnaya Osi highlighted the underutilized potential of collective investment schemes in Nigeria, emphasizing their benefits for economic growth and financial inclusion.

Ecobank Group saw a 23 percent increase in profits, achieving $398 million in pre-tax profit and $1 billion in net revenue during the first half of 2025.

First HoldCo's profit before tax rose significantly in the first half of 2025, reaching N169 billion, thanks largely to a 62 percent increase in interest income.

Oscar Onyema and other experienced professionals have joined the board of Green Impact Exchange (GIX), strengthening its expertise across various sectors.

Nigeria's national debt is currently over N187 trillion, raising concerns that it may reach N200 trillion by the end of the year, exacerbating existing poverty and unemployment challenges.

Sterling Holding Company announced a 157% increase in profit after tax during the first half of 2025 and plans for a public offering to raise funds for recapitalization.

Coca-Cola has sold its Hollandia and Chivita brands to UAC of Nigeria PLC. The outgoing Managing Director of CHI Limited expressed confidence in the brands' future growth under new ownership.

UAC of Nigeria has acquired CHI Limited, the producer of popular beverages and dairy brands Chivita and Hollandia, from Coca-Cola. This strategic acquisition expands UAC's presence in the fast-moving consumer goods sector in Nigeria.