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Togo

IMF Mission in Togo Reviews $403 Million Credit Facility

Lomé, Sept. 29, 2025 – An International Monetary Fund (IMF) mission began work in Lomé on Monday as part of the third review of Togo’s Extended Credit Facility (ECF). The team, led by Hans Weisfeld, will remain in the country until October 10. $403 Million Support Program Approved in March 2024, the 42-month ECF arrangement provides SDR 293.6 million (about $403.4 million) in concessional financing. Its objectives include stabilizing Togo’s economy, strengthening debt sustainability, and accelerating structural reforms to support inclusive growth. So far, the IMF has disbursed about $129 million to Togo under the program. Key Issues Under Review Discussions between IMF experts and Togolese authorities will cover: Macroeconomic indicators: growth, inflation, and national accounts. Social performance: poverty reduction and support for vulnerable households. Fiscal reforms: implementation of the government’s energy subsidy adjustment plan. Possible New Disbursement A successful […]

Abubakar October 1, 2025

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Nigeria

EFCC Chair: Africa Needs Reforms to Attract Investors

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called for sweeping reforms across Africa to reduce investment risks and attract more foreign direct investment. Olukoyede made the remarks on Friday at the EBII Group African Leaders and Partners Forum in Washington DC, according to a statement by EFCC’s Head of Media and Publicity, Dele Oyewale. He stressed that Africa must embrace “broad-based and radical reforms” to improve the ease of doing business, strengthen the rule of law, and invest in human capital development. He also highlighted the need for strong institutions to address challenges in sectors such as agriculture, renewable energy, and solid minerals. Despite Africa’s vast natural resources and youthful, tech-driven population, Olukoyede said reforms are critical to unlocking the continent’s full economic potential. Showcasing Nigeria’s progress, he cited the EFCC’s record of […]

Abdulmumini Auwal SA September 21, 2025

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Finance

Can Nigeria Hit Its $1 Trillion Economy Goal by 2030? Unemployment Crisis Threatens Progress

Nigeria’s $1 Trillion Economy Ambition: How Unemployment Could Derail Progress Nigeria’s bold vision to achieve a $1 trillion economy by 2030 is under severe threat, with experts warning that worsening unemployment and underemployment rates could derail the initiative. As graduates flood an oversaturated job market and companies downsize amid economic pressures, the nation’s labor crisis is reaching a tipping point. The Unemployment Time Bomb Recent data from the National Bureau of Statistics (NBS) reveals a labor force participation rate of 79.5% in Q2 2024, with rural areas (83.2%) outperforming urban zones (73.2%). While the employment-to-population ratio rose to 76.1%, these figures mask harsh realities: stagnant wages, factory closures, and a growing reliance on loans to survive. Dr. Muda Yusuf, Director of the Centre for Promotion of Private Enterprise (CPPE), highlights alarming trends: “Key sectors like agriculture, manufacturing, and trade—critical for […]

Ahmad May 18, 2025

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Ahafo

Mahama’s Government Shows Promise but Faces Looming Challenges – Experts

President John Dramani Mahama's return to Ghana's highest office has been met with both optimism and caution. While his administration has initiated several reforms and fulfilled a significant portion of its early promises, experts highlight persistent challenges that could impede sustained progress. In his first 120 days, President Mahama claims to have fulfilled 72% of his pledges, including the launch of a code of conduct for government officials and the initiation of investigations into unresolved murders and financial scandals . These actions underscore a commitment to transparency and accountability. However, analysts point out that some of these achievements may be overstated, noting that systemic issues like corruption and bureaucratic inertia remain deeply entrenched . The administration's economic reforms, while ambitious, are still in their infancy and face execution challenges, particularly in creating sustainable job opportunities . Furthermore, Ghana's economy, though […]

Ahmad May 8, 2025

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Nigeria

May Day 2025: Tinubu Pledges Economic Relief for Nigerian Workers, Vows Job Creation & Poverty Alleviation

Tinubu’s May Day Promise: ‘Your Challenges Are My Priority’ Abuja, Nigeria – President Bola Tinubu marked May Day 2025 with a firm commitment to addressing the economic struggles of Nigerian workers, praising their resilience as the “backbone of society” and pledging accelerated reforms to improve living standards. Key Assurances from Tinubu’s Address 🌟 Workers as Heroes: “Nigerian workers are the true heroes of our nation. Their sacrifices inspire us to strive for excellence.” – Tinubu, via Labour Minister Muhammad Maigari Dingyadi. 🌟 Policy Focus Areas: Job Creation: Expand public works programs and SME funding to tackle youth unemployment (45%). Poverty Alleviation: Strengthen conditional cash transfers and food security initiatives. Inclusive Growth: Prioritize policies to bridge income inequality gaps. Acknowledgment of Economic Challenges 📉 Global vs Local Realities: Tinubu admitted Nigeria’s economic woes—62% inflation, fuel scarcity, and currency instability—but framed them as part of a “global crisis.” Public Sentiment: Workers protest stagnant wages […]

Ahmad May 2, 2025

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