Nigeria has halved federal borrowing from the central bank, according to Finance Minister Wale Edun, as Africa's biggest economy works to curb monetary financing and shift to markets to plug revenue shortfalls. President Bola Tinubu, who inherited an economy struggling with record debt, high unemployment, subsidies and large central bank financing, has promised to make the bank autonomous and more focused on its core mandate. Central bank overdrafts to the federal government, so-called "ways and means," were popular with the previous administration, peaking at $53 billion in 2023 and fuelling inflation and budget deficits.
Michail Antonio’s early goal was not enough.
Amid a leadership transition, Lawrence Wong hints at few changes to the cabinet lineup. Read on to find out what experts think about potential promotions.