New Nigeria Festival Targets $1 Trillion Economy Ambition with Innovation and Investment Drive
Nigeria is set to take a bold step toward its long-term economic ambitions with the launch of the New Nigeria…
Category: Economy
Nigeria Surpasses OPEC Oil Quota as Crude Production Hits 15-Month High
Nigeria has recorded its strongest crude oil production performance in over a year, surpassing its Organisation of the Petroleum Exporting…
Tinubu Not Nigeria’s Biggest Borrower, New Report Says as Debt Debate Intensifies
President Bola Tinubu is not Nigeria’s biggest borrower since Nigeria returned to democratic rule in 1999, according to a new…
Nigerians Expect Inflation to Ease in Six Months Despite Ongoing Price Pressures – CBN Survey
Despite ongoing pressure on household budgets, Nigerians are beginning to believe that inflation may slow down in the coming months.…
Nigeria’s Economic Reforms Gain IMF Backing as FG Pledges Sustained Policy Drive
The Federal Government has reaffirmed its commitment to sustaining ongoing economic reforms following a positive assessment from the International Monetary…
AfDB Pledges $86m to Boost Nigeria Agro-Industrial Zones as SAPZ Gains Fresh Funding Momentum
The African Development Bank (AfDB) has pledged $86 million to support Nigeria’s Special Agro-Industrial Processing Zones (SAPZ) programme, a major…
FX Reforms Boost Global Naira Card Usage as Banks Raise Dollar Limits
Improved foreign exchange liquidity in Nigeria, driven by sweeping economic reforms, is reshaping how Nigerians use their naira cards for…
Intra-African Trade Set to Hit $250bn in 2026 as AfCFTA Pushes Economic Integration Across the Continent
Intra-African trade is on track for a major milestone in 2026, with projections indicating it could rise to $250 billion,…
Business Confidence in Nigeria Climbs as CBN Survey Signals Stronger Economic Outlook Despite Rising Costs
Nigeria’s business community showed renewed optimism in May 2026 as confidence levels improved significantly despite ongoing concerns over insecurity, high…
Dangote Refinery Hits $39.1 Billion Valuation as Investors Rush Into $1 Billion Capital Raise
The Dangote Petroleum Refinery has reached a remarkable valuation of $39.1 billion as it moves to raise fresh capital through…
Nigeria Imports N654.94bn Worth of Goods from Africa in Q1 2026 — South Africa, Angola, Egypt Lead Trade Surge
Nigeria’s African Imports Hit N654.94bn in Q1 2026 as South Africa Tops Trade Partners Nigeria’s import trade with African countries…
Naira Holds at N1,361/$ as Dollar Strengthens on Strong U.S. Jobs Data and Fed Outlook Pressure
The Nigerian naira maintained a relatively stable position against the U.S. dollar, settling around N1,361/$ in midweek trading as the…
Nigeria’s Foreign Debt Projected to Hit $72.6bn by 2027 Amid Election Spending Pressures – IMF Warns
Nigeria’s external debt is projected to rise sharply to $72.6bn by 2027, according to the International Monetary Fund (IMF), raising…
Stock Futures Fall After U.S. Strikes Iran Amid Rising Middle East Tensions
U.S. stock futures slipped early Wednesday as investors reacted sharply to escalating geopolitical tensions after the United States carried out…
CBN Drains N1.69 Trillion in Fierce Liquidity Mop-Up as Investors Rush Long-Term OMO Bills
The Central Bank of Nigeria stepped up its liquidity control measures on June 8, 2026, draining a massive N1.69 trillion…
Tinubu’s Nigeria Sees $10bn Capital Inflow, But Investors Prefer Lending Over Long-Term Investment
Nigeria’s capital inflows have hit a new record under President Bola Tinubu, with $10 billion entering the country in the…
Foreign capital inflows into manufacturing sector drop by 50.7% in Q1
Nigeria’s manufacturing sector has suffered a steep setback in attracting foreign investment, with capital inflows plunging by 50.7% in Q1…
IMF cautions Nigeria on $5bn Abu Dhabi swap deal
The International Monetary Fund (IMF) has urged Nigeria to exercise caution over its proposed $5 billion Total Return Swap (TRS)…
Dangote Named Africa’s Most Admired Brand for 8th Straight Year
Dangote Industries Limited has once again cemented its reputation as Africa’s most admired brand, retaining the top position for the…
Nigeria Records ₦7.54 Trillion Trade Surplus in Q1 2026 as Oil Exports Surge (Up 340%)
Nigeria has recorded a massive trade breakthrough in the first quarter of 2026, posting a trade surplus of ₦7.54 trillion,…
Nigeria Stock Market Slowdown Linked to New T+1 Settlement Cycle as Foreign Investors Pull Back
Nigeria’s stock market is experiencing a noticeable slowdown just days after the launch of its new T+1 settlement cycle, with…
Nigeria Trade Surplus Hits N7.55 Trillion in Q1 2026 as Oil Exports Drive 340% Surge
Nigeria’s external trade performance opened 2026 on a strong note as the country recorded a massive trade surplus of N7.55…
Lagos Targets $300 Billion Economy, Strengthens Position as Africa’s Investment Gateway
Lagos State has reaffirmed its position as Africa’s leading investment destination, unveiling ambitious plans to grow its economy to $300…
Nigeria Seeks €59m EU Support to Combat Illegal Fishing and Boost Blue Economy
Nigeria has moved to secure a major €59 million support package under the West Africa Sustainable Ocean Programme (WASOP) to…
CBN Tightens FX Rules, Slaps N100 Million Fine on Banks Over Non-Compliant Transactions
The Central Bank of Nigeria (CBN) has rolled out a major overhaul of its foreign exchange regulations, introducing a tough…
Dangote Refinery IPO Could Lift NGX Market Cap to N236 Trillion – Rewane
Bismarck Rewane, Managing Director of Financial Derivatives Company (FDC), has projected that the planned initial public offering (IPO) of the…
Reps Recover ₦521.7m VAT from CBN in Remita Revenue Leak Probe
The House of Representatives Public Accounts Committee has recovered ₦521.77 million in unremitted Value Added Tax (VAT) from the Central…
Global Markets in Turmoil as Middle East Tensions Spark Sell-Off — Asia Leads Sharp Declines
Global financial markets were thrown into uncertainty on Monday as rising tensions in the Middle East triggered a wave of…
Equities market succumbing to rising risk, loses nearly N5tr in one week
Nigeria’s equities market suffered one of its steepest weekly declines in recent years, with investors losing nearly N5 trillion in…
CBN Mops Up N3.04 Trillion in Massive OMO Auction as Investor Demand Hits Record High
The Central Bank of Nigeria withdrew N3.04 trillion from the banking system in a single OMO auction after investors subscribed…