Global Oil & Digital Shake-Up: UAE Exit from OPEC, Showmax Shutdown and Key Business Updates to Watch
This week’s global business landscape is shaping up with major developments across energy, media, and economic policy. From oil market…
Category: Economy
Naira Appreciates to N1,367/$ in Early May 2026 Trading as FX Market Stability Improves
The Nigerian naira opened the first trading session of May 2026 on a stronger note, appreciating to N1,367.5 per dollar…
Foreign Borrowing Rises as 32 Nigerian States and FCT Add Nearly $1 Billion in New External Debt
Nigeria’s subnational governments increased their reliance on foreign borrowing in 2025, as 32 states and the Federal Capital Territory (FCT)…
CBN to Raise N700 Billion via Treasury Bills Auction in May 2026 Amid Strong Investor Demand
The Central Bank of Nigeria (CBN) has announced plans to raise N700 billion through its Nigerian Treasury Bills (NTBs) auction…
Naira Gains Slightly as FX Liquidity Hits $10bn in April, Trade Activity Surges
The Nigerian naira closed April 2026 on a slightly stronger note, supported by improved liquidity in the country’s foreign exchange…
Naira Ends Losing Streak as FX Liquidity Improves, Trades at N1,379/$ Amid Narrowing Market Gap
The Nigerian naira staged a mild recovery in the official foreign exchange market on Wednesday, breaking a week-long run of…
Naira Strengthens Slightly Against Dollar as FX Turnover Surges in Nigerian Foreign Exchange Market
The Nigerian naira recorded a modest gain against the US dollar on Wednesday, supported by a notable rise in foreign…
Nigeria PMI Falls to 49.4, Signals First Economic Contraction in 16 Months
Nigeria’s economic momentum took a hit in April 2026 as the Purchasing Managers’ Index (PMI) slipped to 49.4, signaling a…
East Africa Attracts $4.1bn Investment as Reforms Drive Capital Surge Across Kenya, Uganda, Rwanda
East Africa has recorded a major boost in investor confidence, attracting about US$4.1bn in investments between 2021 and 2025. The…
BII Targets £9 Billion Investment Push to Boost Nigeria and African Economies
The British International Investment (BII), the United Kingdom’s development finance institution and impact investor, has announced a new five-year strategy…
NNPC Hikes Oil Prices Amid US-Iran War as Global Crude Surges
Nigeria’s oil sector has seen a sharp shift as the Nigerian National Petroleum Company Limited (NNPC) increased the official selling…
Naira Weakens to N1,369 per Dollar as External Reserves Drop $731 Million Amid FX Pressures
The Nigerian Naira weakened further on Monday, slipping to N1,369 per US dollar, down from N1,361.5/$ recorded at the end…
FGN Bond Auction Draws N948bn in Strong Investor Demand Across Three Maturities
Nigeria’s domestic debt market recorded a strong showing in April 2026 as the Federal Government’s latest bond auction attracted a…
Dangote Refinery Says Petrol, Diesel Prices Are Being Subsidised Amid Rising Crude Oil Costs
A senior official of the Dangote Group has disclosed that the Dangote Petroleum Refinery is currently subsidising the prices of…
Naira Outperforms African Currencies Despite Rising FX Pressure
Nigeria’s naira has emerged as one of the strongest-performing currencies in Africa so far in 2026, even as global financial…
PenCom Policy Review Sparks N15.53 Trillion Nigerian Stock Market Rally in 14 Sessions
Nigeria’s equities market recorded a remarkable surge, adding about N15.53 trillion in value over 14 consecutive trading sessions. The rally…
No New Vehicle Tax Introduced by Federal Government, NRS Clarifies Viral Claim
The Nigeria Revenue Service (NRS) has debunked a viral social media infographic suggesting that the Federal Government has introduced a…
Bank Recapitalisation in Nigeria: Tinubu Commends CBN’s Cardoso Over Bold Financial Reforms
President Bola Ahmed Tinubu has commended the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, for his ongoing…
CBN Mops Up N2.8 Trillion from Banks to Tighten Liquidity and Stabilise Naira
The Central Bank of Nigeria (CBN) has intensified its efforts to stabilise the foreign exchange market and control inflation by…
Dangote Refinery Expansion to Create 95,000 Jobs as Capacity Hits 1.4 Million Barrels Per Day
Aliko Dangote, President of the Dangote Group, has announced that the ongoing expansion of the Dangote Petroleum Refinery will generate…
Nigeria’s Top Firms Pay Record N2.32 Trillion in Taxes as Banks Drive Corporate Contributions
Nigeria’s largest listed companies have set a new tax record, collectively paying N2.32 trillion in corporate income taxes in 2025,…
NGX Market Rallies as Financial Services Sector Drives N213bn Weekly Equity Turnover
The Nigerian Exchange Limited (NGX) recorded a stronger trading week as investors exchanged a total of 3.8 billion shares worth…
Nigerian Stock Market Gains N861bn as Blue-Chip Stocks Drive Strong Rally
The Nigerian stock market closed on a strong bullish note, adding about N861 billion in market value as renewed buying…
Nigeria Fixed Income and Currency Markets Hit N193.2 Trillion Turnover in Q1 2026 Amid FX Surge
Nigeria’s fixed income and currency markets recorded a strong performance in the first quarter of 2026, with total turnover hitting…
CBN Seeks Private Sector Partnership to Boost Value Addition in Nigeria’s Raw Materials Sector
The Central Bank of Nigeria (CBN) has announced plans to deepen collaboration with the private sector to enhance value addition…
Nigeria Export Trade Struggles: Federal Constraints Undermine ₦128bn State Export Investments
Nigeria’s ambition to boost non-oil exports is facing a major setback as federal-level trade bottlenecks continue to choke progress, even…
VAT Disbursement Rises 30% to N551.77bn in February 2026 as States Record Broad-Based Growth
VAT allocations to Nigeria’s 36 states and the Federal Capital Territory climbed sharply in February 2026, rising by 30.36% month-on-month…
CBN and NEXIM Strengthen Partnership to Boost Non-Oil Exports and FX Earnings in Nigeria
The Managing Director and Chief Executive of the Nigerian Export-Import Bank (NEXIM), Mr. Abba Bello, has held strategic talks with…
FG borrows N2.69tn from bond market in Q1 2026 as investor demand surges
The Federal Government raised a total of N2.69tn from the domestic bond market in the first quarter of 2026, supported…
UK Targets £9 Billion Investment Push in Nigeria and Africa as BII Expands Frontier Market Strategy
The United Kingdom has unveiled plans to channel £9 billion in fresh capital into Nigeria and other African frontier markets…