Wale Edun Assures Nigerians of Stable Food Prices Amid Global Economic Uncertainty
Nigeria’s Finance Minister and Coordinating Minister of the Economy, Wale Edun, has reassured citizens that the federal government is committed…
Category: Economy
Net Foreign Exchange Inflow into Nigeria Drops 18% to $61.3 Billion in 11 Months
Nigeria’s net foreign exchange (forex) inflow fell sharply by 18.3 percent year-on-year to $61.29 billion in the eleven months ending…
Nigeria’s Food Import Bill Hits N7.65 Trillion in 2025 Amid Rising Domestic Demand
Nigeria’s spending on imported food and beverages surged to N7.65 trillion in 2025, signaling the country’s growing dependence on foreign…
China, US Lead Nigeria’s N17.25 Trillion Import Market in Q4 2025
Nigeria’s import market remained heavily concentrated in the fourth quarter of 2025, with a small group of countries supplying the…
NGX Loses N107bn as Profit-Taking Deepens Bearish Sentiment in Nigerian Stock Market
Trading activities on the Nigerian Exchange Limited closed on a slightly negative note on Wednesday as investors continued to take…
Nigeria Spent $5.2bn Servicing External Debt in 2025 – CBN Data Reveals Rising Financial Pressure
Nigeria spent about $5.21bn servicing external debt in 2025, according to data released by the Central Bank of Nigeria. The…
FG Deploys 100,000 CNG Kits as Nigerians Face Near N3 Trillion Fuel Spend in March
The Federal Government has announced the immediate nationwide rollout of about 100,000 Compressed Natural Gas (CNG) conversion kits to help…
Naira Hits N1,400/$ Amid Global Tensions: What This Means for Nigeria’s FX Market
The naira traded at N1,401.4 per dollar on Tuesday at Nigeria’s official foreign exchange (FX) market, marking a continued depreciation.…
Oil Price Surge Boosts Naira Stability and Strengthens Nigeria’s FX Reserves
Nigeria is witnessing a renewed boost to its foreign exchange reserves and naira stability, thanks to surging global oil prices.…
Nigeria’s 4.07% GDP Growth Strengthens Economic Shield Amid Middle East Oil Crisis
Nigeria’s robust economic performance is positioning the country to withstand potential shocks from rising tensions in the Middle East. Finance…
Nigeria Non-Oil Exports Hit N12.36 Trillion in 2025 as Economy Diversifies Beyond Crude
Nigeria’s non-oil exports reached N12.36 trillion in 2025, marking a significant milestone in the country’s effort to diversify its economy…
Tinubu Meets Taiwo Oyedele to Drive Fiscal and Tax Reforms in Nigeria
President Bola Tinubu yesterday welcomed Taiwo Oyedele, the Minister of State for Finance-designate, at the State House, in a clear…
Why the Naira May Hover Around N1,400: Insights into Nigeria’s Currency Outlook
Nigeria’s Naira has returned to the N1,400 mark, reversing the optimism seen just weeks ago when many believed the currency…
Manufacturing VAT Surges 54.7% to N875bn in 9 Months as Nigeria’s Industrial Sector Boosts Non-Oil Revenue
Nigeria’s manufacturing sector has significantly boosted Value Added Tax (VAT) revenue, with payments reaching N875.420 billion in the first nine…
Nigeria Aims to Surpass $48.3 Billion in Trade Deals at Intra-African Trade Fair 2027
Nigeria is preparing to host the fifth edition of the Intra-African Trade Fair (IATF) in Lagos from November 5 to…
Market slows as Dangote hikes petrol, diesel to N1,175/N1,620
Nigeria’s petroleum market faced renewed uncertainty on Monday after Dangote Petroleum Refinery increased ex-depot prices of petrol and diesel to…
CBN to Raise N850 Billion in Treasury Bills Auction on March 11, Boosting Weekly Debt to N2 Trillion
The Central Bank of Nigeria (CBN) is set to raise N850 billion through a fresh Treasury Bills (NTBs) auction scheduled…
Kenya’s Pension Assets Surge to KSh 2.81 Trillion in 2025 Amid Strong Contributions and Investment Gains
Kenya’s retirement benefits sector recorded a remarkable growth in 2025, with total pension assets hitting KSh 2.81 trillion by December,…
CBN PMI Hits 56.4 in February, Marking 15 Months of Continuous Economic Expansion
Nigeria’s economic momentum continued in February 2026, with the Central Bank of Nigeria’s (CBN) composite Purchasing Managers’ Index (PMI) climbing…
Nigeria’s Power Sector Debt: A Case for Accountability Amidst Audit Disputes
Nigeria’s power sector has long been plagued by structural inefficiencies, weak liquidity and persistent non-performance across the value chain. The…
Nigeria Positions for Stronger AfCFTA Gains with Subnational Export Expansion
The Federal Government has reaffirmed its commitment to delivering tangible results under the African Continental Free Trade Area (AfCFTA), emphasizing…
FG Introduces New Presumptive Tax Rules to Simplify Compliance for MSMEs
The federal government of Nigeria has introduced new presumptive tax rules aimed at Micro, Small, and Medium Enterprises (MSMEs) nationwide.…
Manufacturers Optimistic as CBN Interest Rate Cuts Promise Credit Boost Beyond N7tn
Manufacturers in Nigeria are eyeing a rebound in access to bank credit after lending to the sector dropped to N7.09…
Nigerian Pension Funds Hit N28 Trillion as Contributor Base Tops 11 Million
The Nigerian pension fund industry has kicked off 2026 with remarkable growth, reaching a new high of N28.04 trillion in…
Naira Holds Strong at N1,850/£1 Amid UK Pound Weakness and Rising Local Demand
The Nigerian naira settled at N1,850 per British pound (GBP) in the official foreign exchange market on Wednesday, maintaining stability…
Nigeria to Launch National Single Window Digital Trade Platform on March 27
Nigeria is set to officially launch its National Single Window (NSW) digital trade platform on March 27, a move hailed…
IMF Warns Middle East Conflict Could Trigger Global Economic Shock
The International Monetary Fund (IMF) has issued a stark warning that the ongoing conflict in the Middle East could have…
CBN Forex Reforms Boost Reserves and Stabilize Naira Amid Economic Recovery
Nigeria’s Central Bank (CBN) forex reforms have yielded significant results, with the country’s external reserves climbing to $50.45 billion and…
CBN Reforms Push Naira to First Annual Gain in 13 Years
Nigeria’s currency recorded a historic turnaround in 2025 as reforms by the Central Bank of Nigeria (CBN) helped the naira…
Nigerian Crude Oil Surges Past $80 Amid Middle East Tensions – Highest Since 2024
Nigerian crude oil prices have climbed past $80 per barrel, marking the highest levels since mid-2024. The spike follows recent…