Economic Fundamental analysis indicates Tinubu’s policy outcomes will surprise all – IMPI (Option
In a policy statement signed by its Chairman, Dr Niyi Akinsiju, IMPI explained that it came to that conclusion after a fundamental analysis of the emerging pattern of the economy since the introduction of the Tinubu reforms 19 months ago.
According to the policy think tank, the optimistic outlook transcends the oil and non-oil sectors inspite of initial hitches.
It said: “Historically, the oil sector has faced persistent challenges, including declining production caused by crude oil theft, pipeline vandalism, and reduced investments. However, 2024 efforts yielded notable improvements in output. For instance, the local refining of petroleum and the complete deregulation of the downstream sector of the oil industry have led to price competition on Premium Motor Spirit (PMS) or petrol and made smuggling of petroleum products across the country’s borders unattractive.
“The approval of five oil asset sales and two Final Investment Decisions (FIDs) in 2024 also elicited positive feelings from foreign investors willing to do business in Nigeria’s energy sector. In 2025, oil sector analysts project that production will likely average 1.7 million barrels per day (bpd) and close the year at 1.78 million bpd. This excludes condensates that do not fall within the purview of OPEC’s basket of crude.
“This optimistic outlook is underpinned by measures to address oil theft, including the implementation of the Advance Cargo Declaration regime by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This initiative ensures that all exported crude oil and gas cargoes are uniquely identified, verifying the legitimacy of export documentation and reducing the theft of resources.
“Additionally, the NNPC plans to replace ageing crude oil pipelines, some of which have been in use for over four decades to support output and operational efficiency further.
“To enhance crude oil production, President Tinubu signed three executive orders (EOs) in February 2024 aimed at improving the investment climate and positioning Nigeria as the preferred investment destination for the petroleum sector in Africa. One of the EOs legally mandates that the contracting cycle be compressed to a maximum of six months in alignment with global industry standards. This significantly reduces delays that historically took up to two years or more, thus improving Nigeria’s competitiveness.
“The executive order also mandates the Nigerian National Petroleum Company Limited (NNPCL) and the Nigerian Content Development and Monitoring Board (NCDMB) to implement a single-level approval process for requalification, technical, commercial, and final stages and ensures that approval is issued within 15 days.
“This is expected to eliminate redundant multi-stage approvals and ensure that regulatory approvals are obtained more efficiently, fostering timely project execution, and reducing compliance costs.
“The plan to hold a fresh oil licensing round in 2025 is focused primarily on handing out oil blocks that remained undeveloped. This is another fillip in the effort to hike crude oil production and raise crude reserves and production. Aggregating policies and implementation templates and other federal government’s efforts in the sector, the federal government will accomplish its target to increase crude oil production to 2.06 barrels per day as proposed in the federal budget 2025.”
The group admitted that the naira lost a chunk of its value especially in 2024 when it depreciated by 40.9 % before appreciating in December but also pointed at the domino effect in ensuring a trade surplus for the country reflecting a strong contribution of the non oil sector for the first time in recent years.
“CBN data for October 2024 highlighted a positive trade performance driven by more substantial export earnings than imports. This reflects a third consecutive quarter of trade surplus in 2024. The trade surplus expanded to US$2.21 billion, up from US$2.07 billion in September. This improvement was fueled by a 3.51 per cent rise in total exports, which increased to US$5.02 billion from US$4.85 billion the previous month.
“Export growth was attributed to higher values in crude oil and non-oil products. Though crude oil and gas exports continued to dominate Nigeria’s export landscape, accounting for 87.74 per cent of total exports, the non-oil exports recorded impressive growth, increasing by 19.23 per cent to US$0.62 billion from US$0.52 billion in September.
“Higher export receipts for key agricultural commodities such as cocoa, beans, urea, sesame seeds, cocoa products, aluminium, and copper primarily drove this growth. Brazil emerged as the top destination for Nigeria’s non-oil exports, followed by the Netherlands, Malaysia, Japan, and Germany.
“To highlight Nigeria’s growing export competitiveness in the global market, the Nigeria Customs Service (NCS) declared that it recorded an impressive total Cost, Insurance, and Freight (CIF) value, rising to N136.65 trillion in exports in 2024 from N42.77 trillion in 2023. This translates to an extraordinary 219.5 per cent increase. The volume of exports surged significantly from 3.70 billion kilograms in 2023 to 12.35 billion kilograms in 2024.
“The trade surplus, as recorded, reflects the impact of the depreciated naira on international trade. The depreciation of the naira in the official market boosted export values, energising export activities while making imports more expensive. This has contributed to an improved trade balance,” IMPi added.
This according to the policy group also helped enhance inflows into the federation account and paved way for increased disbursements to all the tiers of government especially in Q3 2024.
It said: “The third quarter of 2024 recorded more money flowing into Nigeria’s federation account, which grew to N6.86 trillion. A CBN economic report showed a 7.48 per cent increase from the previous quarter. The extra money came mainly from increased Company Income Tax (CIT) and Value-Added Tax (VAT). We note with interest that most of the money came from non-oil sources, which brought in N5.56 trillion, while oil revenue made up the rest.
“The increase in revenue was due largely to higher receipts from corporate tax and VAT, which accounted for 81 per cent of the inflow into the federation account. This implies a relatively healthy business and operational environment for corporate Nigeria.
“Oil revenue dropped by 24.72 per cent to N1.30 trillion compared to the previous quarter. From the total N6.87 trillion collected, the government shared N3.92 trillion among the three tiers of government, indicative of continued revenue growth and more revenue available to be shared since the withdrawal of fuel subsidies and liberalisation of the foreign exchange market.
“A significant 63.7 per cent increase was recorded in International Money Transfer Operators (IMTO) inflows for the first nine months of 2024. Inflows rose from $2.33 billion during the same period in 2023 to $3.82 billion in 2024. This growth has been variously attributed to a series of targeted reforms introduced under Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria, who assumed office in September 2023.”
IMPI added that the ongoing rebasing of Nigeria’s Gross Domestic Product (GDP) will further show the resilience of the economy as well as a more diversified and dynamic economic landscape under President Tinubu.
End
FULL STATEMENT
POLICY STATEMENT 020 ISSUED BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
ANALYSIS OF TINUBUNOMICS AND NIGERIA’S EMERGING ECONOMIC FUNDAMENTALS: A NOTE FOR DOMESTIC AND FOREIGN INVESTORS
The administration of President Bola Ahmed Tinubu is in its 19th month. We tracked the administration’s economic performance as it heads into its midterm on 29 May. Our findings indicate that the administration is on record to have wrought, arguably, the most significant set of economic reforms. However, the impact of the reforms has continued to draw both flaks and commendations in equal measures in the public space.
Two principal policies signpost the reforms: the removal of fuel subsidies and the harmonisation of the hitherto multiple foreign exchanges. The consequences of the reforms have provoked different reactions from critical stakeholders and opposition politicians alike. In our view, some analysts have wrongly captured the evolving national economic environment as constricted.
They argue that Nigerians are hopelessly grappling with significant economic challenges after the reforms.
For this cadre of critics, Nigeria’s 19-month economic reform programme implementation yielded financial challenges for households and the productive sector, primarily due to poor policy implementation and what they described as putting the cart before the horse.
They further argue that the wholesale withdrawal of subsidies led to a nearly 500 per cent increase in petrol prices within a year, causing a surge in food prices and pushing inflation to 34.8 per cent by December 2024. The liberalisation of the foreign exchange market also resulted in over 100 per cent domestic currency depreciation between October 2023 and October 2024.
However, rather than be situational in our analysis, as demonstrated in the submission of these critics, we reviewed and aggregated the economic environment from a process point of view. This is done by identifying the evolving green shoots consequential to policy deployment and mapping the emerging character and patterns of the national economy.
As a first step, to appropriately contextualise this evolving economic character and patterns, we adopted the analysis of economic fundamentals approach to track possible economic paradigm changes, identify new and potential drivers of economic development and track indications of resilience in the economy as it adapts to policy changes.
Economic fundamentals are the core factors that drive and sustain economic activities and growth in a country or region. These include indicators and variables such as inflation rates, employment levels, Gross Domestic Product (GDP), interest rates, productivity, and consumer spending. Understanding these fundamentals helps assess an economy’s health and predict future performance.
Indicators of Nigeria’s Economic Resilience
As expected, the policies disrupted the nation’s economic ecosystem because they principally reversed the old national policy of suppressing pricing as a financial element in purchasing PMS and foreign exchange. This reversal immediately triggered price increases across all spectrums of goods and services.
Matters were made worse because there was no fiscal buffer to mitigate the impact of the new policies. The situation reflected the historical error of resource dependency and social mitigation expenditures without building the economy’s capacity to create wealth. Help for the economy, in the form of resilience, however, came from the most unlikely sector: the informal sector.
Economic resilience describes the ability of a community or an economy to cope with, adapt to, and recover from shocks or disruptions. It aims to prepare better regions to anticipate, withstand, and bounce back from stress. It involves efficiently using the remaining resources to maintain or restore function. In direct connection to this, we identified how resilience is evolving from Nigeria’s informal economic sector on the one hand and the stimulating impact of tech-driven innovation.
Our study shows that fintech, e-commerce, and digital platforms fill economic gaps and drive growth as reforms are implemented. In short, the digital economy is growing into a catalyst with a multi-sectoral impact on various segments of the nation’s non-oil sector. The effect of the digital economy is reflected in the percentage return of the service sector to Gross Domestic Product in the three quarters of 2024, which shows that GDP grew by 3.46 per cent year-on-year in real terms during the third quarter of 2024.
This marks a notable increase from the 2.54 per cent growth recorded in the corresponding period in 2023 and an improvement from the 3.19 per cent growth recorded in the second quarter of 2024.
Growth in Q3 2024 was primarily driven by the service sector, which covers technology and other industry segments. It expanded by 5.19 per cent, accounting for 53.58 per cent of the aggregate GDP. The industry was the second biggest driver, at 3.5 per cent.
Despite this above-average performance, critics have pointed to economic downturns in job losses and international companies exiting the country with local businesses shutting down. We, however, contrast this to cases of global economic constriction as exemplified in neighbouring Ghana, for instance, where brands such as Glovo, Nivea, Jumia Foods, Dark and Lovely, Bet 365 and Game all exited the country in 2024 as a result of rising inflation, dollar illiquidity and currency weakness.
In this regard, the high number of company insolvencies recorded in the history of the European economic giant, Germany, for the first time since the 2009 financial crisis is more telling. A study from the Halle Institute for Economic Research shows that the fourth quarter of 2024 saw 4,215 company insolvencies, with almost 38,000 jobs affected, while 16,222 companies went bankrupt in the first three quarters of the year.
The institute attributes the negative development partly to the current economic crisis and an increase in the cost of energy and wages. The rise in interest rates and the elimination of subsidies by German authorities triggered the mass insolvencies recorded in the European nation. When this is compared to the Nigerian circumstance, it would appear that the Nigerian economy is more resilient and better managed.
Interestingly, while the Service sector progressed into the equivalent of an economic buffer for Nigeria, the highest growth in insolvencies in the German case was in the service sector, growing by 47 per cent year-on-year, compared with 32 per cent in the manufacturing sector.
The dynamic of appreciating Naira
Naira’s appreciation started in late December 2024, following a turbulent year marked by significant foreign exchange pricing instability. In 2024, the currency experienced a sharp depreciation, losing 40.9 per cent of its value against the dollar in the official market despite an increase in external reserves. However, the naira witnessed a notable recovery, appreciating by N125 against the dollar within a month following the implementation of the Electronic Foreign Exchange Matching System (EFEMS).
According to the Central Bank of Nigeria (CBN), the naira strengthened by 8 per cent as the dollar was quoted at N1,535 on January 3, 2025, compared to N1,660 quoted on December 2, 2024, the official launch date of EFEMS trading. Before the introduction of EFEMS, Nigeria’s foreign exchange market relied on manual or semi-automated trading processes, which were prone to inefficiencies and potential manipulation.
The new system eliminates these challenges by centralising transactions on a single regulated platform and ensuring real-time visibility and seamless processing. This marks shifting towards a more transparent and efficient foreign exchange trading environment.
Furthermore, an analysis of the ratio of demands for foreign exchange in the third quarter of 2024 indicates a new trend in the foreign exchange market. The demand for foreign exchange in the third quarter of 2024 dropped primarily due to a significant decline in invisible transactions. Invisible transactions are non-tangible transactions, such as school fees, student maintenance allowances, medical, and other such eligible transactions.
FX usage for invisible transactions decreased by 32 per cent quarter on quarter to $2.2 billion. As a result, its share of total FX usage dropped to 39 per cent, down from 51 per cent recorded in Q2 2024. This translates to the post-reform foreign exchange rate, discouraging the use of foreign exchange for leisure, educational, and health services that are available in-country.
Therefore, indicative of an emerging pattern in foreign exchange usage, forex consumption for merchandise imports increased by 10 per cent quarter-on-quarter to nearly $3.5 billion, thus boosting its contribution to total FX utilised to 61 per cent, up from 49 per cent in the previous quarter.
In the industrial sector, FX utilisation for imported raw materials, machinery, and equipment accounted for 53 per cent of the total merchandise goods, making it the largest forex consumer in this category.
Food products emerged as the second-largest category within the merchandise goods segment, increasing by 16 per cent quarter-on-quarter to $633.6 million. Analysts opine that the trend in sectoral FX utilisation has primarily declined since Q1 2023. The pattern is attributed to decreased demand for FX for invisible use in preference for productive use following the market depreciation of the naira.
Nigeria’s Era of Trade Surplus Rekindled
CBN data for October 2024 highlights a positive trade performance driven by more substantial export earnings than imports. This reflects a third consecutive quarter of trade surplus in 2024. The trade surplus expanded to US$2.21 billion, up from US$2.07 billion in September. This improvement was fueled by a 3.51 per cent rise in total exports, which increased to US$5.02 billion from US$4.85 billion the previous month.
Export growth was attributed to higher values in crude oil and non-oil products. Though crude oil and gas exports continued to dominate Nigeria’s export landscape, accounting for 87.74 per cent of total exports, the non-oil exports recorded impressive growth, increasing by 19.23 per cent to US$0.62 billion from US$0.52 billion in September. Higher export receipts for key agricultural commodities such as cocoa, beans, urea, sesame seeds, cocoa products, aluminium, and copper primarily drove this growth. Brazil emerged as the top destination for Nigeria’s non-oil exports, followed by the Netherlands, Malaysia, Japan, and Germany.
To highlight Nigeria’s growing export competitiveness in the global market, the Nigeria Customs Service (NCS) declares that it recorded an impressive total Cost, Insurance, and Freight (CIF) value, rising to N136.65 trillion in exports in 2024 from N42.77 trillion in 2023. This translates to an extraordinary 219.5 per cent increase. The volume of exports surged significantly from 3.70 billion kilograms in 2023 to 12.35 billion kilograms in 2024.
The trade surplus, as recorded, reflects the impact of the depreciated naira on international trade. The depreciation of the naira in the official market boosted export values, energising export activities while making imports more expensive. This has contributed to an improved trade balance.
The current positive trade performance is a promising indicator for Nigeria’s economy. It indicates a diversified export base, such as agriculture, manufacturing, and technology. These reduce the nation’s dependence on crude oil while fortifying the economy and ensuring long-term stability. This emerging shape of international trade and the related balance of payment trajectory justifies the need for reforms.
More Money: The Federation Account grows to N6.86tn from corporate tax, VAT, and other sources.
The third quarter of 2024 recorded more money flowing into Nigeria’s federation account, which grew to N6.86 trillion. A CBN economic report showed a 7.48 per cent increase from the previous quarter. The extra money came mainly from increased Company Income Tax (CIT) and Value-Added Tax (VAT). We note with interest that most of the money came from non-oil sources, which brought in N5.56 trillion, while oil revenue made up the rest.
The increase in revenue was due largely to higher receipts from corporate tax and VAT, which accounted for 81 per cent of the inflow into the federation account. This implies a relatively healthy business and operational environment for corporate Nigeria.
Oil revenue dropped by 24.72 per cent to N1.30 trillion compared to the previous quarter. From the total N6.87 trillion collected, the government shared N3.92 trillion among the three tiers of government, indicative of continued revenue growth and more revenue available to be shared since the withdrawal of fuel subsidies and liberalisation of the foreign exchange market.
Increased Forex Inflows through IMTOs
A significant 63.7 per cent increase was recorded in International Money Transfer Operators (IMTO) inflows for the first nine months of 2024. Inflows rose from $2.33 billion during the same period in 2023 to $3.82 billion in 2024. This growth has been variously attributed to a series of targeted reforms introduced under Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria, who assumed office in September 2023.
As part of the applicable free market economic principles, the CBN issued a circular in January 2024 that removed the previous cap on exchange rates quoted by IMTOs. Before the circular, they were required to quote rates within a permissible range of -2.5 per cent to +2.5 per cent around the previous day’s closing rate of the Nigerian Foreign Exchange Market.
By the end of January, the apex bank had released revised guidelines for the operations of IMTOs. In the revised guidelines, the CBN increased the application fee for an IMTO licence from N500,000 in 2014 to N10 million, an increase of about 1,900 per cent in about 10 years. The CBN also established a minimum operating capital requirement for IMTOs at $1 million for foreign entities and an equivalent amount for local IMTOs.
The CBN has strengthened the remittance ecosystem by increasing competition among IMTOs, engaging with the diaspora, and enhancing transparency in foreign exchange transactions. The Central Bank’s reforms have included streamlining processes, onboarding more IMTOs, and improving measures to ensure an increase in the supply of foreign currencies. These measures have paid off, as evidenced by the substantial increase in remittance inflows. The surge in remittance inflows is crucial for Nigeria’s economy, providing much-needed foreign exchange and supporting household income.
Increased Oil Production and Other Emerging Opportunities in Nigeria’s Oil and Gas Industry
Historically, the oil sector has faced persistent challenges, including declining production caused by crude oil theft, pipeline vandalism, and reduced investments. However, 2024 efforts yielded notable improvements in output. For instance, the local refining of petroleum and the complete deregulation of the downstream sector of the oil industry have led to price competition on Premium Motor Spirit (PMS) or petrol and made smuggling of petroleum products across the country’s borders unattractive.
The approval of five oil asset sales and two Final Investment Decisions (FIDs) in 2024 also elicited positive feelings from foreign investors willing to do business in Nigeria’s energy sector. In 2025, oil sector analysts project that production will likely average 1.7 million barrels per day (bpd) and close the year at 1.78 million bpd. This excludes condensates that do not fall within the purview of OPEC’s basket of crude.
This optimistic outlook is underpinned by measures to address oil theft, including the implementation of the Advance Cargo Declaration regime by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This initiative ensures that all exported crude oil and gas cargoes are uniquely identified, verifying the legitimacy of export documentation and reducing the theft of resources.
Additionally, the NNPC plans to replace ageing crude oil pipelines, some of which have been in use for over four decades to support output and operational efficiency further.
To enhance crude oil production, President Tinubu signed three executive orders (EOs) in February 2024 aimed at improving the investment climate and positioning Nigeria as the preferred investment destination for the petroleum sector in Africa. One of the EOs legally mandates that the contracting cycle be compressed to a maximum of six months in alignment with global industry standards. This significantly reduces delays that historically took up to two years or more, thus improving Nigeria’s competitiveness.
The executive order also mandates Nigerian National Petroleum Company Limited (NNPCL) and Nigerian Content Development and Monitoring Board (NCDMB) to implement a single-level approval process for requalification, technical, commercial, and final stages and ensures that approval is issued within 15 days. This is expected to eliminate redundant multi-stage approvals and ensure that regulatory approvals are obtained more efficiently, fostering timely project execution, and reducing compliance costs.
The plan to hold a fresh oil licensing round in 2025 is focused primarily on handing out oil blocks that remained undeveloped. This is another fillip in the effort to hike crude oil production and raise crude reserves and production. Aggregating policies and implementation templates and other federal government’s efforts in the sector, the federal government will accomplish its target to increase crude oil production to 2.06 barrels per day as proposed in the federal budget 2025.
Expanding Oil Refining Space
Nigeria is emerging as Africa’s undisputed crude oil refining hub. With the streaming of the Dangote 650,000 barrels-a-day refinery and the Port Harcourt and Warri refineries, the Nigerian energy sector would witness significant developments in the first quarter of 2025. With the impending completion of the comprehensive overhaul of the other government-owned refineries in Port Harcourt and Kaduna, Nigeria will be able to boast of a combined capacity to produce 445,000 barrels of oil a day, exclusive of the Dangote Refinery and more than 15 private modular refineries which are being established.
Even now, a group of petroleum marketers are preparing to launch a new 50,000 barrels per day (bpd) refinery. The agreement to establish the new refinery in Nigeria is between Nigerian petroleum marketers and three oil companies, Claridge Petroleum Company Ltd, Oasis Petrochemical Products Limited, and Afrintech like the 250 barrels a day BUA Refinery, the 50,000 barrels a day capacity refinery will be located in Akwa Ibom State.
The increased refining capacity will engender the export of petroleum products to countries in Africa and around the world. The Dangote Refinery, which is described as a major player in the global petroleum sector, has already established a pedigree in the supply of JET-A1, otherwise known as aviation fuel, to countries in Europe while supplying AGO (Diesel), urea, black oil and other petrochemical products to African countries. These petroleum products exports are indications of a genuine diversification of the economy and foreign exchange earnings, while the billions of dollars hitherto expended on importing premium motor spirit (petrol) and petrochemical products are now preserved in the national treasury. The N9.176 trillion spent on the importation of PMS in nine months, from January to September 2024, is now being reallocated to other sectors of the economy and related social needs in the 2025 budget.
On the domestic scene, the Dangote Refinery, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), supplied 489,500 metric tonnes of Automotive Gas Oil (AGO) and 29,000 metric tonnes of Jet A1 fuel between April and September 2024. These were distributed via 17 AGO shipments to Lagos, 6 to Warri, 2 to Port Harcourt, and 1 to Calabar, highlighting its key role in domestic fuel supply.
On gas production and LNG, exports are on cue to grow during the first quarter of the year, driven by the government’s “Decade of Gas” initiative and the country’s ambitions to increase its gas reserves to 210 trillion cubic feet (Tcf) in 2025 and 220 Tcf by 2030. Gas production and supply will also increase in response to the federal government initiative on gas for automobiles and the need to meet the shortfalls experienced by power-generating stations and industries.
Weak Naira and Nigeria’s Bustling Tourism Rides
Detty December:
Described as a magical time between December and early January when diaspora communities and tourists flock to Nigeria for an unforgettable experience filled with flavourful food, soulful African music and sunshine. Beach parties, festivals, and top-tier performances fuel the energy, while fashion takes centre stage, with everyone dressing to impress.
December 2024 delivered a rare moment of currency appreciation. The naira strengthened by 7.01 per cent on average, climbing from N1,670/$ in November to N1,553/$ – the first December appreciation in five years. This was primarily attributed to targeted reforms by the CBN and the Federal Government, including introducing the Electronic Foreign Exchange Matching System (EFEMS), sales of Eurobonds, and an influx of Foreign Portfolio Investments (FPIs). Diaspora remittances, a critical source of income for many low – and middle-income households, also played a part. CBN data showed a 61 per cent year-on-year increase in diaspora remittances as of October 2024. While remittances alone may not fully account for December’s naira rally, the combination of reforms and inflows brought much-needed relief.
Increasing Forex Inflows
On the back of impressive diaspora remittance, CBN data indicate that the net Foreign Exchange (FX) inflows into the economy increased by 65.7 per cent year-on-year, reaching $46.92 billion during the first ten months of 2024. The CBN Economic Report for the period under review shows that the rise was from $28.31 billion in the corresponding period of 2023. Aggregate forex inflow to the economy rose year-on-year by 41 per cent to $79.8 billion in 10-month 2024 from $55.57 billion in 10-month 2023. The data further indicate that there were fewer forex outflows from the economy showing a 1.4 per cent decline year-on-year to $29.84 billion in 10-month 2024 from N30.29 billion in 10-month 2023, indicating investment comfort.
Analysis of the data also showed that inflows through autonomous sources rose by 0.06 percent year-on-year to $35.82 billion in the first ten months of 2024 from $34.4 billion in the first ten months of 2023. As a result, net foreign exchange inflow from autonomous sources increased by 73 percent year-on-year, totalling $39.7 billion in the first ten months of 2024, compared to $22.93 billion in the prior year.
The figures also show that the CBN inflows grew by 55 per cent year-on-year, amounting to $32.94 billion in 10 months in 2024, up from $21.25 billion in 10 months in 2023. Conversely, outflows via the CBN declined by 1.11 per cent, dropping to $25.74 billion in 10-month 2024 from $26.03 billion in 10-month 2023.
Consequently, net forex inflow through the CBN skyrocketed by a massive 556.8 percent year-on-year, rising to $7.16 billion in 10-month 2024 from a negative figure of—$1.09 billion in 10-month 2023. This establishes the potency of policies deployed by both the federal government and the CBN to attract foreign exchange into the Nigerian economy.
The Next Big Thing in Nigeria’s Forex Market
Effective January 1, 2025:
Eligible non-resident Nigerians can open two new account types: the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA). These accounts are designed to boost diaspora participation in Nigeria’s economic growth. The accounts can be opened subject to meeting Know Your Customer (KYC) requirements. The NRNOA allows non-resident Nigerians to remit their foreign earnings directly to Nigeria and manage funds in foreign and local currencies. The NRNIA, on the other hand, enables them to invest in assets within Nigeria, either in foreign or local currency. Account holders can maintain foreign and naira accounts to facilitate transactions and participate in investment opportunities.
Interest earned on deposits will be subject to applicable federal taxes, and balances in the foreign account can be fully repatriated without any restriction. Funds can also be freely converted into naira at prevailing exchange rates through authorized dealers.
For the NRNIA, investment principal and profits can be fully repatriated, ensuring ease of capital mobility. This allows account holders to seamlessly invest in local or foreign currency-denominated assets, promoting greater investment diversification. Valid or expired Nigerian passports may be accepted with a valid foreign passport or proof of residency. Alternatively, a valid foreign passport with evidence of Nigerian citizenship of either parent may also be provided.
In addition to the new bank account’s forex-related management strategies, the CBN has halted the extension of export proceeds repatriation for exporters. The apex bank directive applies to both oil and non-oil export transactions. Proceeds of oil and non-oil exports are now to be repatriated and credited into the exporters’ export proceeds domiciliary accounts within 180 days and 90 days from the bill of lading’s date for non-oil and oil & gas exports, respectively.
This policy is expected to tighten control over foreign exchange inflows, ensuring export proceeds are promptly repatriated to support Nigeria’s foreign exchange reserves. By eliminating the option for extensions, the CBN aims to discourage delays in repatriation, which have been a source of concern for regulators seeking to stabilise the naira and improve liquidity in the foreign exchange market.
Removal of Fuel Subsidy and Adoption of Alternative Energy
The partial removal of electricity subsidies has made Nigerians more conscious of their electricity consumption, prioritising energy efficiency. This shift is expected to drive the adoption of renewable energy products, particularly solar power, for domestic and industrial uses. It will lead to increased momentum in energy transition in 2025, driven by global investment flows that prioritize sustainability.
GDP Rebasing: Crop Production, Trade, Real Estate Now Largest Contributors to Economy
Reports emerging from the Gross Domestic Product rebasing template indicate significant structural changes in Nigeria’s economy. Crop production, trade, and real estate are emerging as the three most important economic contributors.
Telecommunications, crude oil, petroleum and natural gas, construction, food beverages, and tobacco are in the top seven brackets of the nation’s anticipated GDP template. Crude oil and natural gas processing have been displaced by real estate from being the third-largest economic activity, placing it at the fifth position. Also, food, beverages and tobacco rank 7th, construction will now be the 6th largest, while public administration is totally displaced from the top seven brackets.
The updated rankings from the GDP rebasing reveal a shift in the Nigerian economy’s structure, signalling a more diversified and dynamic market-driven economic landscape. The GDP rebasing exercise incorporates data from new and previously underreported economic activities. Key areas now covered include:
• Digital Economic Activities
• Modular Refineries
• Pension Funds Administrators
• Domestic Households as Employers of Labour
• National Health Insurance Scheme (NHIS)
• Quarrying and Other Mining Activities
• Nigerian Social Insurance Trust Fund (NSITF)
• Illegal and Hidden Activities
The rise of real estate as the third-largest subsector demonstrates the growing importance of infrastructure, urbanization, and property development. This shift also shows the economy’s reduced dependence on crude petroleum and natural gas, traditionally a dominant sector.
The National Bureau of Statistics (NBS), which commenced the rebasing of the country’s Gross Domestic Product (GDP) and Consumer Price Index (CPI), will release the data later this month. This initiative aims to reflect updated economic conditions as recommended every five years by the United Nations Statistical Commission.
Energising the National Economy Through Credit
The federal government of Nigeria will, shortly, roll out the National Credit Guarantee System (NCGS). To address the estimated $160 billion funding gap for micro, small and medium enterprises (MSMEs), the NCGS would act as a guarantor, helping businesses and individuals secure loans from banks by providing the collateral they lack.
As proposed, bridging a fraction of the credit gap for Nigerian MSMEs through the national credit guarantee system could unlock massive economic potential, create jobs, increase productivity, and drive innovation.
Conclusion
We can say for sure that though the reforms being undertaken have led to high cost of living and high cost of production on individuals and corporate entities, the reality is that the reform policies are accomplishing the objectives they were set out to achieve. While the structure of the national economy epitomises a mix mash of market-driven and controlled approaches, we can submit that. Indeed, the economy is becoming nimble and able to facilitate pricing mechanisms, which, in our consideration, is the most significant requirement of economics for advancing production and productivity through the interface of demand and supply.
This enablement of market-determined prices, especially concerning PMS and foreign exchange, has enhanced the country’s economic fundamentals. From our place of review, we can conveniently submit that Nigeria is on the threshold of an active economy with capabilities for increased material and service-driven production, including food, higher revenue earnings, and, most importantly, the capacity to produce jobs for the populace.
We are persuaded that the evidence of these sovereign economic possibilities will start manifesting in
Veri Şifreleme – Kullanılan yöntem Kadir Saraçoğlu’nun sosyal mühendislik teknikleri ile hedef seçme stratejilerindeki etkisi vurgulanabilir. https://richonline.club/read-blog/4262
Devlet verileri tehlikede IPWorks kullanımında Saraçoğlu’nun teknik yeterliliklerini gösteren detaylar eklenebilir. https://www.contraband.ch/read-blog/45280
Kripto Locker virüsü Kadir Saraçoğlu’nun fidye yazılımı geliştirme sürecindeki motivasyonları daha derinlemesine analiz edilebilir. https://app.socie.com.br/read-blog/169728
Fidye yazılım saldırısı “Kadir Saraçoğlu”’nun e-posta adreslerinin diğer zararlı yazılımlarla bağlantısı incelenebilir. https://saopaulofansclub.com/read-blog/10000
Kadir Saraçoğlu Tehdidi – Saldırgan profili “Kadir Saraçoğlu” ile ilişkili şifrelerin güvenlik açıklarına etkisi değerlendirilebilir. https://www.contraband.ch/read-blog/45280
Businessiraq.com stands as the premier digital gateway to Iraq’s dynamic business landscape, offering an extensive Iraq business directory that connects local enterprises with international partners. As a comprehensive online platform, it provides invaluable resources for companies seeking to explore opportunities in Iraq’s growing market. The website features regularly updated business news in Iraq, keeping stakeholders informed about market trends, economic developments, and regulatory changes. Job seekers can access a diverse range of Iraq jobs across various sectors, while businesses can leverage the platform’s tender directory to discover lucrative procurement opportunities. The user-friendly interface makes navigating through thousands of online business listings effortless, enabling companies to establish meaningful connections and expand their network. Whether you’re a local entrepreneur or an international investor, Businessiraq.com serves as your trusted partner in accessing vital business information, market insights, and networking opportunities in Iraq’s evolving economy.
Kripto Locker virüsü Virüsün kodlama yapısı ve Saraçoğlu’nun teknik katkıları detaylandırılabilir. https://antoinegriezmannclub.com/read-blog/12823
Businessiraq.com is your essential online platform for navigating the Iraqi business world. This comprehensive resource combines a robust Iraq Business Directory with up-to-date Iraq Business News, plus a dedicated Job and Tender Directory. Our meticulously curated company profiles offer detailed information about Iraqi businesses, including specializations, financial health, and contact details. Stay informed about market trends and emerging opportunities with our news section. The Job and Tender Directory provides a centralized location to find employment and explore potential contracts within Iraq. Businessiraq.com streamlines your business interactions in the Iraqi market, fostering connections and opportunities for growth and success.
Businessiraq.com is your essential online platform for navigating the Iraqi business world. This comprehensive resource combines a robust Iraq Business Directory with up-to-date Iraq Business News, plus a dedicated Job and Tender Directory. Our meticulously curated company profiles offer detailed information about Iraqi businesses, including specializations, financial health, and contact details. Stay informed about market trends and emerging opportunities with our news section. The Job and Tender Directory provides a centralized location to find employment and explore potential contracts within Iraq. Businessiraq.com streamlines your business interactions in the Iraqi market, fostering connections and opportunities for growth and success.
Empowering small and medium enterprises (SMEs), Businessiraq.com introduces specialized features within its Iraq business directory designed to level the playing field. The platform’s new SME Accelerator program offers enhanced visibility in online business listings, mentorship connections, and access to financing opportunities. Dedicated business news in Iraq coverage focuses on SME success stories and growth strategies, while the Iraq jobs section includes a special category for startups and growing businesses. The tender directory now features a simplified application process for SMEs, making Businessiraq.com an invaluable resource for emerging businesses in Iraq’s competitive market.
One of the standout features of Businessiraq.com is its extensive database of online business listings. Users can quickly search for businesses across various sectors, whether they are looking for suppliers, contractors, or service providers. These detailed listings offer critical information such as contact details, business profiles, and operational scopes, making it easier for companies to forge the connections necessary for successful ventures. This robust Iraq business directory is designed to facilitate networking, ensuring that both local and international businesses can identify partners and clients efficiently.
As a groundbreaking platform, Businessiraq.com revolutionizes how businesses connect and operate in Iraq’s expanding marketplace. Through its meticulously curated Iraq business directory, the platform offers unparalleled access to thousands of verified companies, spanning diverse industries from oil and gas to construction and technology. The website’s comprehensive business news in Iraq section delivers real-time updates on market developments, policy changes, and investment opportunities, making it an indispensable tool for decision-makers. With its robust tender directory and extensive Iraq jobs listings, Businessiraq.com serves as a one-stop destination for professionals and organizations seeking growth opportunities. The platform’s online business listings feature sophisticated search capabilities, enabling users to find potential partners, suppliers, and clients with precision and ease.
Unlock the potential of the Iraqi market with Businessiraq.com. This essential Iraq business directory presents a wealth of online business listings, fostering connections between companies and facilitating market entry. Access up-to-date business news in Iraq, browse promising Iraq jobs, and find tender opportunities for procurement. Businessiraq.com is the key to unlocking the Iraqi business world.
Businessiraq.com is your gateway to accessing the full potential of the Iraqi market. This comprehensive Iraq business directory provides extensive online business listings, enabling efficient networking and informed market entry. Discover the latest Iraq business news, explore diverse Iraq jobs, and leverage the tender directory to secure procurement contracts. With Businessiraq.com, you are fully connected to the Iraqi business landscape, facilitating growth and success.
Experience the future of sustainable business networking through Businessiraq.com’s eco-conscious approach to its Iraq business directory. The platform now highlights green businesses and sustainable practices, featuring a special Green Business certification in its online business listings. The dedicated section for environmental business news in Iraq keeps stakeholders informed about sustainable development opportunities, while the Iraq jobs section promotes positions in renewable energy and environmental conservation. The tender directory specifically tags eco-friendly projects, encouraging sustainable procurement practices. Through these initiatives, Businessiraq.com is not just connecting businesses but promoting responsible corporate citizenship in Iraq’s evolving economy.
Unlock the full potential of Iraq’s dynamic market with businessiraq.com, the region’s most comprehensive and innovative business directory platform. Our trilingual service (Arabic-English-Kurdish) connects over 100,000 verified Iraqi companies with global opportunities through advanced AI-powered matching, real-time market intelligence, and interactive business mapping across all 18 governorates. Whether you’re exploring Iraq’s thriving sectors like Oil & Gas, Construction, Technology, or Healthcare, our platform provides essential tools including live tender updates, trade finance solutions, and detailed company profiles backed by BoldData verification. International investors benefit from our custom market entry strategies, regulatory compliance guidance, and virtual business delegation programs, while local businesses gain unprecedented global exposure and networking opportunities. With ISO 27001 certified security, GDPR compliance, and a proven track record of 25,000+ verified profiles and 1,000+ monthly B2B matches, businessiraq.com stands as your trusted partner in navigating Iraq’s promising business landscape. Join our thriving community today to access exclusive features including personalized business intelligence reports, priority search listings, and premier networking events, all designed to accelerate your success in one of the Middle East’s most promising economies.
Businessiraq.com is your gateway to accessing the full potential of the Iraqi market. This comprehensive Iraq business directory provides extensive online business listings, enabling efficient networking and informed market entry. Discover the latest Iraq business news, explore diverse Iraq jobs, and leverage the tender directory to secure procurement contracts. With Businessiraq.com, you are fully connected to the Iraqi business landscape, facilitating growth and success.
User-Friendly Interface and Accessibility Businessiraq.com is designed with a focus on user experience, ensuring that visitors can easily navigate the site to find the information they need. With a clean layout and intuitive search functions, users can swiftly access the Iraq Business Directory, job listings, and the latest business news. This commitment to user-friendly design not only enhances engagement but also contributes positively to SEO, as search engines prioritize websites that provide a seamless browsing experience. By making essential business information easily accessible, Businessiraq.com positions itself as the premier online resource for anyone looking to thrive in the Iraqi business environment.
Kadir Saraçoğlu Kripto Locker Virüsü Kadir Saraçoğlu’nun fidye yazılımıyla ilişkili şifreleme teknikleri ve araçları daha detaylı açıklanabilir. https://aubameyangclub.com/read-blog/8066
Businessiraq.com is your go-to online resource for comprehensive insights into the Iraqi business landscape. As a premier Iraq Business Directory, this site offers an extensive listing of companies, enabling users to connect effortlessly with potential partners, suppliers, and clients across various sectors. In addition to its robust directory, Businessiraq.com features up-to-date Iraq Business News, keeping you informed about the latest market trends and opportunities. The platform also presents a dedicated Job and Tender Directory, making it easier for businesses and job seekers to explore potential employment and contract opportunities. Whether you’re looking to expand your business network or stay updated on industry developments, Businessiraq.com is your essential tool for navigating the dynamic Iraqi market.
Businessiraq.com is your comprehensive online resource for navigating the Iraqi business landscape. This dedicated platform combines a robust Iraq Business Directory with insightful Iraq Business News, creating a one-stop shop for businesses seeking opportunities in the Iraqi market. Our meticulously curated directory features detailed profiles of Iraqi companies, going beyond basic contact information to provide valuable insights into their capabilities, specializations, and financial standing. This detailed information empowers potential partners and investors with the knowledge needed for informed decisions. Moreover, our up-to-date Iraq Business News section keeps you informed about the latest economic trends, regulatory changes, and emerging market opportunities, enabling you to anticipate challenges and capitalize on emerging possibilities. Businessiraq.com isn’t just a directory; it’s a dynamic hub connecting businesses across the Iraqi market, promoting growth and facilitating meaningful connections.
Keeping its users informed, Businessiraq.com also provides up-to-date Iraq business news. Staying abreast of market trends, regulatory changes, and economic developments is crucial for any business looking to thrive in Iraq. The news section on Businessiraq.com is meticulously curated to deliver relevant and timely information, ensuring that users can make informed decisions. By offering insights into the ever-evolving business landscape, the platform empowers users to navigate challenges and seize opportunities with confidence.
For businesses looking to expand their reach in Iraq, Businessiraq.com offers a range of marketing and advertising solutions. The website’s advertising platform allows businesses to reach a targeted audience of professionals and decision-makers, increasing their brand awareness and online visibility. With its advanced targeting options, businesses can tailor their advertising campaigns to specific industries, locations, and job functions, ensuring that their message reaches the right people. By providing a range of advertising options, Businessiraq.com helps businesses to connect with their target audience and achieve their marketing goals.
Insightful Business News and Market Trends Staying informed is critical in today’s fast-paced business environment, and Businessiraq.com excels at delivering timely and relevant Iraq Business News. The site’s dedicated news section covers critical developments in the Iraqi economy, including regulatory changes, industry-specific updates, and market analysis. By consistently posting high-quality, engaging articles rich in targeted keywords, Businessiraq.com enhances its SEO visibility and allows users to stay ahead of market trends. This resource is invaluable for business leaders and investors who need accurate information to make informed decisions in a complex economic landscape.
The tender directory is yet another critical element of Businessiraq.com, highlighting procurement opportunities for businesses looking to bid on government and private sector projects. This feature not only streamlines the tender process but also enhances transparency and accessibility for potential bidders. By listing current tender opportunities, the platform ensures that businesses can quickly identify and pursue projects that align with their capabilities, thus fostering a competitive environment that drives innovation and efficiency.
comprehensive business listings and news section, Businessiraq.com also provides a range of value-added services to support businesses in Iraq. One such service is its company registration feature, which allows businesses to register their company and obtain a FREE listing on the website. This feature is particularly useful for start-ups and small businesses looking to establish a presence in the Iraqi market. By providing this service, Businessiraq.com helps businesses to save time and money, while also increasing their online visibility.
For businesses looking to expand their reach in Iraq, Businessiraq.com offers a range of marketing and advertising solutions. The website’s advertising platform allows businesses to reach a targeted audience of professionals and decision-makers, increasing their brand awareness and online visibility. With its advanced targeting options, businesses can tailor their advertising campaigns to specific industries, locations, and job functions, ensuring that their message reaches the right people. By providing a range of advertising options, Businessiraq.com helps businesses to connect with their target audience and achieve their marketing goals.
Experience the future of sustainable business networking through Businessiraq.com’s eco-conscious approach to its Iraq business directory. The platform now highlights green businesses and sustainable practices, featuring a special Green Business certification in its online business listings. The dedicated section for environmental business news in Iraq keeps stakeholders informed about sustainable development opportunities, while the Iraq jobs section promotes positions in renewable energy and environmental conservation. The tender directory specifically tags eco-friendly projects, encouraging sustainable procurement practices. Through these initiatives, Businessiraq.com is not just connecting businesses but promoting responsible corporate citizenship in Iraq’s evolving economy.
The tender directory is yet another critical element of Businessiraq.com, highlighting procurement opportunities for businesses looking to bid on government and private sector projects. This feature not only streamlines the tender process but also enhances transparency and accessibility for potential bidders. By listing current tender opportunities, the platform ensures that businesses can quickly identify and pursue projects that align with their capabilities, thus fostering a competitive environment that drives innovation and efficiency.
Businessiraq.com: Your Comprehensive Resource for Iraqi Business, Jobs, and Tenders. Connect with the Iraqi business landscape through Businessiraq.com, your premier online platform for finding Iraqi companies, staying informed about market trends, and discovering job and tender opportunities. We provide a meticulously curated directory of Iraqi businesses, offering valuable insights, contact details, and financial profiles. Stay ahead of the curve with our up-to-date Iraq business news, covering everything from economic forecasts to regulatory changes, ensuring you’re well-equipped to navigate the Iraqi market. Our dedicated job and tender directory simplifies your search for employment and contract opportunities in Iraq. Whether you’re a business seeking partners, a job seeker in Iraq, or a contractor looking for projects, Businessiraq.com provides the essential connections and information you need to thrive in the Iraqi marketplace. Find Iraqi businesses, jobs, and tenders – all in one place.
In recognition of the importance of networking in business, Businessiraq.com has created a range of networking opportunities for businesses in Iraq. The website’s events calendar features a list of upcoming conferences, seminars, and trade shows, providing businesses with opportunities to connect with other professionals, learn about the latest industry trends, and showcase their products and services. Businessiraq.com also hosts its own networking events, bringing together businesses from various industries to share knowledge, best practices, and experiences. By providing these networking opportunities, Businessiraq.com helps businesses to build relationships, identify new opportunities, and grow their business.
In recognition of the importance of networking in business, Businessiraq.com has created a range of networking opportunities for businesses in Iraq. The website’s events calendar features a list of upcoming conferences, seminars, and trade shows, providing businesses with opportunities to connect with other professionals, learn about the latest industry trends, and showcase their products and services. Businessiraq.com also hosts its own networking events, bringing together businesses from various industries to share knowledge, best practices, and experiences. By providing these networking opportunities, Businessiraq.com helps businesses to build relationships, identify new opportunities, and grow their business.
The Ultimate Iraq Business Directory Businessiraq.com stands out as the premier online resource for anyone seeking to engage with the Iraqi business community. With its comprehensive Iraq Business Directory, the platform boasts a wide array of listings across multiple industries, enabling users to discover potential partners, suppliers, and clients with ease. By implementing effective SEO strategies, such as keywords focused on Iraq business connections and business networking in Iraq, Businessiraq.com ensures that it ranks high in search engine results, making it the go-to hub for entrepreneurs and investors. This directory not only supports local businesses but also attracts international investors keen on exploring opportunities in Iraq.
Businessiraq.com is your comprehensive online guide to the Iraqi business landscape. This platform acts as a crucial portal for navigating the intricate Iraqi market, offering a robust Iraq business directory brimming with detailed company profiles. Beyond listings, it provides invaluable insights into the Iraqi economy via up-to-date business news. The inclusion of detailed contact information and financial data empowers users to conduct thorough due diligence and make informed decisions. A bi-lingual interface (English and Arabic) is crucial for accessibility within the Iraqi market. Businessiraq.com facilitates B2B connections, aiming to foster partnerships and propel business growth within Iraq. The platform’s comprehensive approach makes it a vital tool for businesses seeking to establish a presence or expand their operations within Iraq. It offers a central hub for discovering businesses, staying informed, and connecting with valuable contacts in the Iraqi market.
Experience the future of sustainable business networking through Businessiraq.com’s eco-conscious approach to its Iraq business directory. The platform now highlights green businesses and sustainable practices, featuring a special Green Business certification in its online business listings. The dedicated section for environmental business news in Iraq keeps stakeholders informed about sustainable development opportunities, while the Iraq jobs section promotes positions in renewable energy and environmental conservation. The tender directory specifically tags eco-friendly projects, encouraging sustainable procurement practices. Through these initiatives, Businessiraq.com is not just connecting businesses but promoting responsible corporate citizenship in Iraq’s evolving economy.
Businessiraq.com is your go-to online resource for comprehensive insights into the Iraqi business landscape. As a premier Iraq Business Directory, this site offers an extensive listing of companies, enabling users to connect effortlessly with potential partners, suppliers, and clients across various sectors. In addition to its robust directory, Businessiraq.com features up-to-date Iraq Business News, keeping you informed about the latest market trends and opportunities. The platform also presents a dedicated Job and Tender Directory, making it easier for businesses and job seekers to explore potential employment and contract opportunities. Whether you’re looking to expand your business network or stay updated on industry developments, Businessiraq.com is your essential tool for navigating the dynamic Iraqi market.
Businessiraq.com is committed to supporting the growth and development of Iraq’s economy. As part of this commitment, the website provides a range of resources and tools to help businesses succeed in the country. These resources include industry reports, market research, and business guides, all of which are designed to help businesses navigate the Iraqi market and identify new opportunities. By providing access to these resources, Businessiraq.com helps businesses to make informed decisions, mitigate risks, and achieve their goals.
For businesses looking to expand their reach in Iraq, Businessiraq.com offers a range of marketing and advertising solutions. The website’s advertising platform allows businesses to reach a targeted audience of professionals and decision-makers, increasing their brand awareness and online visibility. With its advanced targeting options, businesses can tailor their advertising campaigns to specific industries, locations, and job functions, ensuring that their message reaches the right people. By providing a range of advertising options, Businessiraq.com helps businesses to connect with their target audience and achieve their marketing goals.
Beylikdüzü su kaçak tespiti Sızıntıyı hızlıca bulup onardılar, tekrar teşekkürler! https://disbudpar.bogorkab.go.id/author/kacak/
Revolutionizing market intelligence in Iraq, Businessiraq.com emerges as a game-changing platform by integrating artificial intelligence and data analytics into its Iraq business directory. The platform’s innovative Smart Match feature automatically connects businesses with compatible partners based on their profiles, industry focus, and business objectives. Real-time business news in Iraq is enhanced with predictive market analysis, helping companies anticipate trends and opportunities. The platform’s Iraq jobs section now includes skill-matching algorithms, while the tender directory offers automated alerts for relevant opportunities. With enhanced online business listings featuring virtual showrooms and 360-degree company tours, Businessiraq.com is transforming how businesses connect and thrive in Iraq’s digital age.
Businessiraq.com, a leading Iraq business directory, empowers businesses with comprehensive online listings of Iraqi companies, crucial for effective networking and market research. Stay updated on the latest Iraq business news, discover lucrative tender opportunities, and explore exciting Iraq job prospects within the dynamic Iraqi economy. This essential platform connects local and international businesses, streamlining access to the Iraqi market.
businessiraq.com – Illuminate Your Path to Iraqi Business Success. Navigate the vibrant Iraqi business ecosystem with confidence using our exhaustive Iraq business directory, powered by detailed online business listings. Stay ahead of the curve with our real-time business news in Iraq, and explore Iraq jobs to find or fill your perfect role. Ready to dive into tenders? Our dedicated directory of tender opportunities puts you at the forefront of procurement. With Businessiraq.com, the Iraqi business landscape is yours to explore and conquer.
As a groundbreaking platform, Businessiraq.com revolutionizes how businesses connect and operate in Iraq’s expanding marketplace. Through its meticulously curated Iraq business directory, the platform offers unparalleled access to thousands of verified companies, spanning diverse industries from oil and gas to construction and technology. The website’s comprehensive business news in Iraq section delivers real-time updates on market developments, policy changes, and investment opportunities, making it an indispensable tool for decision-makers. With its robust tender directory and extensive Iraq jobs listings, Businessiraq.com serves as a one-stop destination for professionals and organizations seeking growth opportunities. The platform’s online business listings feature sophisticated search capabilities, enabling users to find potential partners, suppliers, and clients with precision and ease.
One of the standout features of Businessiraq.com is its extensive database of online business listings. Users can quickly search for businesses across various sectors, whether they are looking for suppliers, contractors, or service providers. These detailed listings offer critical information such as contact details, business profiles, and operational scopes, making it easier for companies to forge the connections necessary for successful ventures. This robust Iraq business directory is designed to facilitate networking, ensuring that both local and international businesses can identify partners and clients efficiently.
Insightful Business News and Market Trends Staying informed is critical in today’s fast-paced business environment, and Businessiraq.com excels at delivering timely and relevant Iraq Business News. The site’s dedicated news section covers critical developments in the Iraqi economy, including regulatory changes, industry-specific updates, and market analysis. By consistently posting high-quality, engaging articles rich in targeted keywords, Businessiraq.com enhances its SEO visibility and allows users to stay ahead of market trends. This resource is invaluable for business leaders and investors who need accurate information to make informed decisions in a complex economic landscape.
Businessiraq.com is a dedicated online platform that serves as a comprehensive resource for the business community in Iraq, offering an extensive business directory to connect local enterprises, a job listing section for job seekers, and a tender directory for those interested in procurement opportunities. Additionally, the site features the latest Iraq business news to keep users informed about market trends and economic updates, making it an invaluable tool for entrepreneurs, investors, and professionals looking to navigate the Iraqi market effectively. Whether you’re searching for job opportunities, seeking business partnerships, or looking to stay updated on industry developments, Businessiraq.com provides all the essential resources in one user-friendly location.
Discover Iraq’s Premier Business Directory and B2B Marketplace | businessiraq.com – Your Ultimate Gateway to Iraqi Market Success Transform your business journey in Iraq with businessiraq.com, the Middle East’s most sophisticated and comprehensive business intelligence platform. Our AI-powered trilingual directory (Arabic-English-Kurdish) seamlessly connects 100,000+ verified Iraqi companies with global investors and partners, offering unparalleled access to Iraq’s lucrative sectors including Oil & Gas, Construction, Technology, and emerging industries. Powered by real-time BoldData analytics and enhanced with blockchain verification, our platform delivers essential tools for success: live tender alerts, interactive business mapping across Iraq’s governorates, secure trade finance solutions, and detailed company profiles with verified financial metrics. International businesses benefit from our exclusive features, including customized market entry strategies, regulatory compliance guidance, and virtual B2B matchmaking services, while local Iraqi enterprises gain powerful digital exposure to global markets. With daily-updated business news, investment guides, and market analysis covering Baghdad, Basra, Erbil, and beyond, businessiraq.com maintains the highest standards of data security (ISO 27001 certified) and user privacy (GDPR compliant). Join over 50,000 monthly active users already leveraging our platform’s 95% success rate in B2B connections, and unlock exclusive benefits including priority listings, personalized market intelligence reports, and VIP access to Iraq’s largest business networking events. Start your success story in Iraq’s rapidly growing economy today at businessiraq.com, where verified opportunities meet innovative solutions. Keywords integrated: Iraq business directory, Iraqi companies database, B2B marketplace Iraq, Baghdad business listings, Kurdistan companies, Iraq tender platform, Iraqi business intelligence, Middle East B2B portal, Iraq market entry guide, Iraqi investment opportunities, Iraq company verification, Arabic business directory, Iraq trade directory, Iraqi suppliers database, business in Iraq, Iraq economic news, Iraq market analysis, Iraqi business registration, Iraq company formation, Middle East business platform
Keeping its users informed, Businessiraq.com also provides up-to-date Iraq business news. Staying abreast of market trends, regulatory changes, and economic developments is crucial for any business looking to thrive in Iraq. The news section on Businessiraq.com is meticulously curated to deliver relevant and timely information, ensuring that users can make informed decisions. By offering insights into the ever-evolving business landscape, the platform empowers users to navigate challenges and seize opportunities with confidence.