Economy
Niger’s Overall Macroeconomic Performance Okay In 2016—IMF
By Modupe Gbadeyanka
A recently released report by the International Monetary Fund (IMF) has said Niger’s overall macroeconomic performance has remained satisfactory in 2016 despite the security and humanitarian shocks, the unfavourable commodity prices, and the reduction of trade flows to neighbouring countries.
An IMF team to Niger led by Mr Anta Gueye visited Niamey from October 24 to November 7, 2016 to conduct the 2017 Article IV consultation and discuss a successor Extended Credit Facility (ECF) arrangement that could support Niger’s medium-term economic and financial program.
At the end of the mission, Mr Gueye said the Nigerien authorities and the IMF team reached a staff-level agreement on a medium-term program (2017-2020) that could be supported by a successor ECF.
According him, the new program builds on lessons of the current ECF arrangement.
He said in the report that while the 2012-2016 ECF-supported program helped maintain macroeconomic stability despite a series of substantial adverse exogenous shocks and implementation slippages, allocations for health and education were crowded out by priority security expenses, which constrained the achievement of broader development objectives.
“The new program aims at preserving macroeconomic stability and at achieving the development objectives of the Economic Development Document,” he explained in the report obtained by Business Post.
He added that in view of the elevated security spending needs and the persisting shocks to government revenue, policies under the new program focus on domestic revenue mobilization, by broadening the tax base, and on strengthened budget management, to provide the needed fiscal space and ensure debt sustainability.
The program, Mr Gueye explained, also includes a strong agenda for structural reforms to strengthen public financial management, support the diversification of the economy and enhance resilience, while reflecting limited capacity.
He said the country’s growth is projected to increase to 4.5 percent in 2016 from 3.5 percent in 2015, helped by a strong 2016/17 crop year and despite continued weakness in the oil and mining sectors. Inflation would be contained at 1.6 percent in 2016.
“Budget execution has been impacted by lower-than-targeted revenue collection partly due to unfavourable developments in commodity sectors and continued economic problems in neighbouring countries.
“At end-June 2016, most fiscal targets other than for government revenue were however met. Progress was made in implementing structural reforms, albeit with delays.
“In response to a larger shortfall of revenue collection in the second half of 2016, the authorities curtailed commitments on non-priority expenditures for the last quarter of 2016. This measure enacted by the inter-ministerial budget regulation committee will help avoid the accumulation of payments arrears and the resort to domestic financing,” the report said.
“The economic outlook for the medium-term is favourable, but remains subject to substantial external and domestic risks. Real GDP growth is projected to increase to 5.2 percent in 2017, driven by agriculture and an expected pick-up in oil production. Inflation is expected to remain contained below 2 percent.
“Real GDP growth is expected to average 6.0 percent during 2018- 2021, mainly as a result of the expansion of the extractive industries sector and an increase in public and private investments. Inflation is expected to remain below the 3 percent WAEMU convergence criterion.
“Key risks include negative externalities of regional conflicts, vulnerability to natural disasters, and the economic turmoil in the sub-region.
“The Article IV discussions focused on preventing and managing natural disasters, harnessing the demographic dividend, and dealing with the gender issue in Niger.
“The mission met with President Issoufou Mahamadou and Prime Minister Brigi Rafini. The mission held also working sessions with the Minister of Finance, Mr, Massoudou Hassoumi, other Ministers in charge of Planning, Petroleum, Mines, the Minister Delegate for Budget, the National Director of the BCEAO, as well as other senior government officials. The staff also met with representatives of civil society, the private sector, and the donor community,” the report said.
By Modupe Gbadeyanka
A festive campaign designed to blend culture, lifestyle, music, generosity, and digital engagement into one connected celebration that brings millions of Nigerians together across cities and communities has been launched by MTN Nigeria.
Known as VibeTide, this initiative will continue throughout the festive months with a rich mix of activities designed to meet Nigerians wherever they gather.
The campaign came alive this morning with Y’ello Santa, a multi-city activation that lit up Lagos, Abuja, Port Harcourt, Kano, Ibadan, and Enugu with surprises, gifts, entertainment, and heartwarming interactions.
Thousands of Nigerians were celebrated and rewarded as MTN teams visited high traffic locations to create spontaneous festive moments. The turnout and excitement across the cities reflected the early momentum that the season typically brings.
To support the influx of returnees and tourists arriving for the holidays, MTN would introduce integrated bundles designed with the I Just Got Back (IJGB) community in mind.
Many travellers rely on mobile data the moment they land, using it to navigate busy cities, book rides, find events, make cashless payments, and stay connected to family and friends.
These affordable and reliable options ensure that visitors can settle in quickly and enjoy the festive experience without connectivity barriers. The bundles would be available through the yellotide portal, regular channels and the MyMTN app.
The dedicated portal for the initiative serves as the digital gateway for the entire campaign. It provides customers with access to exclusive event tickets, curated experiences, giveaways, and up to date information on all VibeTide activities, giving Nigerians an easy and personal way to stay plugged into the celebration.
YelloTide will run across November and December and extend into early 2026. It combines on ground activations, digital engagement, talent showcases, and community focused surprises that reinforce MTN’s commitment to celebrating Nigerians and powering shared experiences. Whether in bustling cities or in hometowns with family, MTN is placing itself at the heart of the celebrations, giving Nigerians more to enjoy and more to remember this festive season.
The Chief Marketing Officer of MTN Nigeria, Ms Onyinye Ikenna Emeka, said VibeTide was created to elevate the energy and emotion of the season, noting that it celebrates the joy Nigerians naturally bring to this time of year.
By Adedapo Adesanya
Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has welcomed the introduction of a N20 billion collective insurance bond backed by a consortium of insurers to replace the long-standing container deposit system in Nigeria’s maritime trade.
The container deposit system allows shipping companies to charge importers of clearing agents a refundable fee (container deposit) whenever they take delivery of a container from the port for the purpose of unpacking and returning it after use. It serves as a guarantee that the importer will return the container to the shipping line in good condition within a stipulated, agreed period.
The new scheme, designed to protect international traders and freight-forwarders, marks a major shift toward an insurance-driven framework for container and cargo risk management, with agreed standard premiums now set for container indemnity, cargo-in-transit, and public liability coverages.
Speaking at an engagement with insurance stakeholders on Wednesday in Lagos, NACCIMA’s President, Mr Jani Ibrahim, represented by the group’s Director General, Mr Sola Obadimu, emphasised the critical role of insurance in enabling business operations from maritime and oil & gas to agriculture and exports.
The two-day event, which dedicated the first day to maritime stakeholders, held at NACCIMA’s secretariat, spotlighted how Section 203 of the newly assented Nigerian Insurance Industry Reform Act (NIIRA) 2025 outlaws the traditional container-deposit fee and ushers in an insurance-based mechanism for both laden and empty shipping containers.
The reform signals “a new era” in container-risk management, NACCIMA said.
To drive implementation, NACCIMA proposed setting up an Implementation Committee representing private-sector trade groups (including manufacturers, SMEs, employers), regulators and all maritime stakeholders.
According to the association, on-boarding is slated to begin January 2026.
“The private sector will take the lead in implementing the Container Insurance Law in the maritime sector, towards the complete elimination of the deposit fee, as stipulated in law,” Mr Obadimu said.
Business-owners were urged to support the shift to an insurance-model, with NACCIMA detailing its partnership with consulting firm FRM Communications Limited to digitise container profiling, map stakeholders and integrate into national trade-facilitation systems.
By Adedapo Adesanya
The Securities and Exchange Commission (SEC) has announced that Nigeria’s capital market will officially transition to a T+2 settlement cycle for equities transactions from Friday, November 28, 2025.
The reform, aimed at aligning Nigeria with global best practices, is expected to enhance market efficiency, improve liquidity, and strengthen investor confidence ahead of the traditional year-end rally.
With the T+2 transition, Nigeria is taking a significant step toward a more efficient, competitive, and investor-friendly capital market as it braces for becoming an ambitious $1 trillion economy.
In a statement issued on Thursday, the SEC said the migration from the current T+3 (trade date plus three days) cycle had reached full implementation following months of preparation and rigorous stakeholder testing.
“The migration is expected to significantly enhance the Nigerian capital market by allowing investors quicker access to funds, improving overall liquidity, and reducing counterparty risk exposure,” the Commission noted.
The Central Securities Clearing System (CSCS) Plc, which serves as the market’s central counterparty, was praised for ensuring operational and technical readiness.
“Extensive testing with market participants has been successfully conducted without any reported issues,” the SEC said, adding that the initiative represents a “landmark change” in Nigeria’s market infrastructure.
Under the new settlement framework, all trades executed on Friday, November 28, 2025, will settle on Tuesday, December 2, 2025, while earlier transactions will continue under the existing T+3 system.
The SEC also reaffirmed its commitment to building a modern, transparent, and globally competitive market that continues to attract domestic and international investors.
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