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Economy
Dangote Investments Driving Africa’s Industrial Growth, AFC Boss Says
The sustained investments of the Dangote Group across Africa are playing a major role in driving industrialisation…
7 Global Companies That Have Scaled Back or Exited Nigeria Under Tinubu
Several global companies have exited Nigeria, halted local production or significantly scaled back their operations…
Nigeria’s 4.43% GDP Growth Masks Deep Industrial Crisis, MAN Warns
Nigeria’s economy grew by 4.43 per cent in the second quarter of 2026, but the latest figure may not tell the full…
Nigeria’s Economic Activity Expands for Third Month as CBN Composite PMI Hits 52.7
Nigeria’s economic activity continued its recovery in August 2026, expanding for the third consecutive month as the…
AfCFTA Unveils $5.17bn Digital Trade Corridor to Transform African Commerce
The African Continental Free Trade Area (AfCFTA) is set to strengthen digital trade across the continent with the…
Nigeria’s Private Sector Activity Hits 7-Month Growth Streak as New Orders Reach…
Nigeria’s private sector activity gained fresh momentum in August as stronger customer demand and new product…
Forex Utilisation in Nigeria Jumps 74% to $16.35bn in Q1 2026
Foreign exchange utilisation in Nigeria surged by 74 per cent year-on-year to $16.35 billion in the first quarter…
Nigeria Targets $1 Trillion Economy by 2030 as GDP Growth Hits 4.43%
Nigeria is strengthening its push towards a $1 trillion economy by 2030, with the Federal Government pointing to…
Private Sector Credit Hits N83.43 Trillion as Nigerian Businesses Borrow More
Private sector credit in Nigeria climbed to N83.43 trillion in July 2026, as businesses and other private-sector…
Nigeria Targets Indigenous AI Capacity as Tinubu Government Pushes for $1tn…
Nigeria is stepping up efforts to build indigenous AI capacity as the Federal Government looks to use technology,…
Electricity Subsidy Bill Hits N1.92trn in 2025 as FG Absorbs Tariff Gap — NERC
Nigeria’s electricity subsidy bill climbed to N1.928 trillion in 2025, as the Federal Government continued to…
MTN, Airtel Drive Nigeria’s Telecoms Growth to 10.38% as Sector Contributes N5.2tn…
Nigeria’s telecommunications sector is becoming an increasingly important engine of economic growth, with the…
Nigeria’s FX Spot Market Hits Record $5.01bn as Weekly Turnover Surges 155%
Nigeria’s foreign exchange market has recorded a major surge in activity, with the Nigeria FX spot market crossing…
Finance, Insurance Sector Growth Slows to 9.29% Despite Recapitalisation
Nigeria’s finance and insurance sector recorded 9.29 per cent real growth in the second quarter of 2026, a sharp…
Oil Prices Rise as Trump Threatens Fresh Strikes on Iran, Raising Global Supply…
Oil prices climbed on Tuesday after U.S. President Donald Trump threatened further military action against Iran,…
Tinubu: Nigeria’s GDP Growth Signals Economic Reforms Are Paying Off
President Bola Tinubu has said Nigeria’s latest GDP growth figures show that his administration’s economic reforms…
Nigeria’s Economy Grows 4.43% in Q2 2026 as Agriculture, Services Drive Expansion
Nigeria’s economy recorded stronger growth in the second quarter of 2026, with real Gross Domestic Product (GDP)…
Tinubu’s Economic Reforms May Take 20 Years to Benefit Nigerians, Economists Warn
Nigerians may have to wait more than a decade before they begin to fully feel the benefits of President Bola…
Nigeria’s July Remittances Hit Record $947m, Near CBN’s $1bn Monthly Target
Nigeria’s July remittances in Nigeria surged to a record $947 million, bringing the country closer to the Central…
Nigeria’s Diaspora Remittances Hit Record $947m in July, Near $1bn CBN Target
Nigeria’s diaspora remittances through International Money Transfer Operators (IMTOs) climbed to a record $947…
Nigeria Targets Emerging Market Status After FTSE Russell Upgrade
The Federal Government is setting its sights beyond Nigeria’s return to the FTSE Russell Frontier Market Index,…
Nigeria’s FX Utilisation Hits $16.2bn in Q1, Jumps 74% as Dollar Supply Improves
Nigeria’s foreign exchange utilisation surged to $16.2bn in the first quarter of 2026, marking a 74 per cent…
Pension Inflows Rise 42% to N147m, But 200,505 Accounts Remain Dormant
Pension inflows in Nigeria recorded a strong increase in the first quarter of 2026, with quarterly contributions…
FG Opens 2027 Finance Bill to Nigerians’ Input, Sets September 11 Deadline
The Federal Government has opened the floor to Nigerians, businesses and other stakeholders to submit ideas that…
Rwanda Secures First Yen-Denominated Loan Worth $190 Million
Rwanda has secured a $190 million World Bank Group-backed loan, marking the country’s first-ever borrowing in…
FG Renews Partnership With Taraba as State Unveils New Plan for Agriculture,…
The Federal Government has renewed its partnership with Taraba State as the state government unveiled a new…
Nigeria’s Foreign Reserves Hit $53.11bn, Highest Level in 17 Years
Nigeria’s foreign reserves have climbed to $53.11 billion, reaching their highest level in more than 17 years,…
Nigeria’s External Reserves Hit $53.11bn, Near 17-Year Record
Nigeria’s external reserves have climbed to $53.11bn, reaching their highest level in more than 17 years and moving…
PenCom: 91.4% of Nigeria’s Personal Pension Accounts Remain Unfunded
A large majority of Nigeria’s Personal Pension Plan (PPP) accounts are still sitting without contributions,…
Nigeria, Thailand Deepen Push for Agriculture and Technology Partnerships
Nigeria and Thailand are moving to strengthen their bilateral relationship, with agriculture, technology, renewable…