Naira Strengthens as Nigeria’s Foreign Reserves Hit $52.5bn, CBN Says
Nigeria’s foreign exchange market is showing fresh signs of stability as the naira continues to strengthen, with the gap between…
Category: Business
Dangote Refinery Secures $1bn Backing Ahead of Planned IPO
The Dangote Petroleum Refinery has secured a $1 billion underwriting programme ahead of its planned initial public offering (IPO), in…
Nigeria’s Gas Market Set for Major Shift as Exchange Trading Promises Clearer Prices
Nigeria’s gas market could be heading for a major transformation as the country moves towards exchange-based trading, a model expected…
PwC Warns Nigeria’s 30% Capital Gains Tax Creates Offshore Tax Loopholes
Nigeria’s new 30 per cent capital gains tax (CGT) regime could create uncertainty for companies involved in offshore transactions, PwC…
FG, States and LGs Share Record N3.007trn as July Revenue Jumps 18%
Nigeria’s federal, state and local governments shared a record N3.007 trillion in FAAC revenue allocation for July, following a sharp…
US Bond Yields Hit 20-Year High, Putting Naira and Nigerian Stocks Under Pressure
US bond yields have climbed to their highest level in nearly two decades, raising fresh concerns for emerging markets such…
NGX Loses N544.5bn as First HoldCo, Fidelity Bank Drive Six-Day Market Slide
Nigeria’s equities market extended its losing streak on Tuesday, August 18, 2026, as investors continued to lock in profits from…
NAFEM Turnover Hits $1.41 Billion as FX Market Activity Rebounds
NAFEM turnover surged to $1.41 billion on August 17, 2026, marking its highest level in five weeks as trading activity…
DMO Allots N1.56 Trillion in FGN Bonds as Investor Demand Reaches N1.73 Trillion
Nigeria’s Debt Management Office (DMO) has allotted a combined N1.56 trillion in Federal Government of Nigeria (FGN) bonds after investors…
Nigeria’s Net FX Flow Falls 29% to $4.94 Billion in March as Outflows Surge
Nigeria’s net foreign exchange (FX) flow fell by 29% month-on-month to $4.94 billion in March 2026, down from $6.98 billion…
IFC Commits $25m to Boost Africa’s E-Commerce Growth
The International Finance Corporation (IFC), the private-sector arm of the World Bank Group, is committing $25 million to Jumia Technologies…
Oil Price Rally Lifts Nigeria’s Earnings in First Half of 2026 – Afreximbank
Nigeria emerged as one of the African countries that benefited significantly from higher global oil prices in the first half…
FG Targets $750m Investment as Nigeria Unveils New National Cloud Policy
Nigeria is positioning itself to become a major cloud computing and data-hosting hub in Africa as the Federal Government unveils…
S&P 500 Futures Slide as Rising Yields and Oil Prices Rattle Investors
U.S. stock futures came under pressure on Tuesday as rising Treasury yields and higher oil prices renewed concerns about inflation…
Nigeria Slips to Third as South Korea Reclaims Global Stock Market Lead
Nigeria has dropped to third place in the global ranking of best-performing stock markets after holding the top position for…
NGX sheds N106bn as bearish sentiment persists
The Nigerian Exchange Limited (NGX) started the week on a cautious note as continued selling pressure pushed the equities market…
SEC clears Blockchain, others for crypto regulation
Nigeria’s Securities and Exchange Commission (SEC) has admitted three virtual asset service providers, including Blockchain, into its Accelerated Regulatory Incubation…
Crude Oil Rises Above $91 as Middle East Tensions Weigh on Global Markets
Crude oil prices extended their gains on Tuesday, with Brent crude climbing above $91 a barrel as hopes for a…
Brent Crude Surges Above $90 as Strait of Hormuz Tensions Escalate
Brent crude oil prices climbed above $90 per barrel on Monday as renewed tensions between Iran and the United States…
Proposed Crude Swap Could Save Nigerian Refiners Up to $329m
Nigeria’s domestic refineries could have saved as much as $328.8m in the first half of 2026 if the proposed crude…
Food Inflation Hits 20.31% in July as Rising Prices Put Fresh Pressure on Nigerians
Nigeria’s food inflation rate climbed sharply to 20.31% year-on-year in July 2026, reaching its highest level in 10 months and…
Otedola Boosts First HoldCo Stake With Fresh N20.7bn Share Purchase
Femi Otedola, Chairman of First HoldCo Plc, has further increased his stake in the financial services group after purchasing shares…
FG Offers Nigerians Up to ₦50m Housing Loan at 6% — How to Apply
The Federal Government, through the Federal Mortgage Bank of Nigeria (FMBN), is offering eligible Nigerians an opportunity to finance their…
$25bn Nigeria-Morocco Gas Pipeline Faces Fresh Delays Amid Growing Concerns
The much-anticipated Nigeria-Morocco Gas Pipeline is facing fresh concerns over delays, with the more than $25 billion project yet to…
Five best-performing insurance stocks in 2026 amid recapitalization
Nigeria’s insurance sector is showing a striking split in performance in 2026, with a handful of stocks delivering impressive gains…
CBN Faces New Test as Price Stability Raises Pressure to Revive Credit and Economic Growth
Nigeria’s progress in taming inflation and stabilising the foreign exchange market is beginning to create a new economic question: when…
CBN: Nigeria’s IMTO Inflows Hit Record $1.29bn in Q1 2026, Rise 45%
Nigeria’s inflows through International Money Transfer Operators (IMTOs) surged to a record $1.29 billion in the first quarter of 2026,…
Japan’s Oil Crisis Eases, but Soaring Import Costs Keep Economy Under Pressure
Japan’s oil crisis may be showing signs of easing, but the country is still paying a heavy economic price for…
Nigeria’s Business Week: NESG Forum, MSME Summit and $50bn Offshore Investment in Focus
Nigeria’s business landscape is set for a busy week as policymakers, investors, entrepreneurs and industry leaders prepare for a series…
BREAKING: Nigeria’s inflation rate drops to 15.43%
Nigeria’s inflation dropped further to 15.43 percent in July 2026, down from 15.91 percent recorded in June. The National Bureau…