Naira Strengthens to ₦1,400/$ as Weaker US Dollar Lifts Emerging Markets
Nigeria’s naira continued its upward momentum midweek, appreciating to around ₦1,400 per dollar at the official foreign exchange market, as…
Category: Economy
Nigeria’s Tax Committee Strengthens Stakeholder Engagement for Smooth Implementation of New Tax Laws
The National Tax Policy Implementation Committee (NTPIC) has intensified efforts to ensure the effective rollout of Nigeria’s newly enacted tax…
BUA Cement Expands Sokoto Plant with $240M Investment to Boost Production
BUA Cement Plc has announced a $240 million investment to expand its Sokoto cement plant, introducing a modern 3-million-tonne-per-annum production…
Erdogan Eyes $5 Billion Nigeria-Türkiye Trade Deal During Tinubu Visit
During Nigerian President Bola Tinubu’s state visit to Türkiye, President Recep Tayyip Erdogan announced that his country is targeting a…
Nigerian Firms Secure $2.5bn in World Bank Contracts, Rank Fifth Globally
Nigerian companies have secured more than $2.5 billion worth of World Bank–financed contracts, placing the country fifth globally among beneficiaries…
Ghana Treasury Bill Auction: Gov’t Raises GH¢12.83bn as 364-Day Rates Hit 13.06%
Ghana’s government successfully raised GH¢12.83 billion in its latest Treasury bill auction, surpassing expectations as investor demand for short-term government…
Nigeria’s Debt Crisis Deepens: Budget Deficit Hits N23.85 Trillion Amid Rising Borrowing
Nigeria’s public debt burden has escalated dramatically over the past decade, with the budget deficit soaring from N2.2 trillion in…
US Records $1.45 Billion Trade Surplus with Nigeria Amid Export Growth and Tariff Shifts
The United States has reversed last year’s trade deficit with Nigeria, recording a $1.45 billion goods trade surplus in the…
Tax Reforms Leave Workers Cold as Salary Increases Fall Short
Many Nigerian workers say the much-publicised Personal Income Tax (PIT) reforms have brought little relief to their finances, with only…
Nigeria’s New Tax Law Tackles Double Taxation and Boosts Digital Economy Compliance
The Federal Government of Nigeria has unveiled new tax measures aimed at curbing double taxation, expanding the tax net, and…
Naira Weakens Across FX Markets Amid Supply Constraints and Demand Pressures
The naira closed last week on a weaker note across Nigeria’s foreign exchange markets, as supply shortages and persistent demand…
Nigeria’s Exports to Africa Surge 14% in H1 2025, Fuel Leads Trade Growth
Nigeria has recorded a 14% increase in exports to Africa in the first half of 2025, reaching a total of…
Oil prices hold above Nigeria’s $64.85 budget amid Middle East tensions
Global oil prices remained firm on Monday, trading above Nigeria’s 2026 budget benchmark of $64.85 per barrel, as supply disruptions…
LIRS Targets Banks, Employers to Recover Unpaid Taxes Under New Enforcement Powers
The Lagos State Internal Revenue Service (LIRS) has announced plans to intensify efforts to recover unpaid taxes by enforcing its…
Nigeria’s Economy Shows Strong Recovery, Says Oduwole at World Economic Forum
Nigeria’s economy is showing clear signs of recovery, driven by strategic reforms and increased investor confidence, the Minister of Industry,…
CBN’s Tight Monetary Policy Cuts Inflation by 10 Points, Governor Cardoso Confirms
Nigeria’s sustained monetary tightening has played a key role in reducing inflation, with the Central Bank of Nigeria (CBN) confirming…
Tinubu Approves Commercial Oil Drilling in Ogun, Revives Olokola Deep Seaport
President Bola Ahmed Tinubu has approved the commencement of commercial oil drilling at Tongeji Island in Ipokia Local Government Area…
Danish $1.2bn Investment Boosts Nigerian Ports and Maritime Sector
Nigerian ports are set to receive a major boost following a $1.2 billion investment from Denmark, announced by the Ambassador…
Sugar Tax Could Threaten Nigeria’s Manufacturing Sector, Warns CPPE
The Centre for the Promotion of Private Enterprises (CPPE) has raised concerns that the proposed sugar tax on sugar-sweetened non-alcoholic…
Ghana Chamber of Mines Urges Review of Mining Fiscal Plan to Boost Investment
The Ghana Chamber of Mines has urged the government to rethink its proposed mining fiscal framework, emphasizing the need to…
Economist Warns: New Sugar Tax on Soft Drinks Could Hurt Nigeria’s Economy
The Centre for the Promotion of Private Enterprise (CPPE) has raised serious concerns over proposals to introduce additional taxes on…
FGN to Repay N1.03 Trillion Bond on January 22: Implications for Nigeria’s Debt and Naira
The federal government is set to repay up to N1.03 trillion in bond maturities on January 22, 2026, marking one…
Lagos Port Haulage Costs Drop by 65% as Ètò System Transforms Cargo Logistics
Lagos importers are breathing a sigh of relief as cargo haulage costs at Tin Can Island and Apapa seaports have…
CBN Economic Reforms Drive Growth and Tame Inflation in Nigeria
Nigeria’s economy is showing early signs of recovery as the Central Bank of Nigeria (CBN) forecasts stronger growth and easing…
IMF and World Bank Upgrade Nigeria’s Economic Growth Outlook to 4.4% in 2026
The International Monetary Fund (IMF) has revised Nigeria’s economic growth forecast upward to 4.4% in 2026 and 4.1% in 2027,…
Nigeria’s Non-Oil Exports Hit Record $6.1 Billion in 2025 – NEPC Reports Historic Growth
Nigeria’s non-oil exports reached an all-time high of $6.1 billion in 2025, according to the Nigerian Export Promotion Council (NEPC),…
ATM Withdrawals Jump 196% to ₦36.3 Trillion in H1 2025 — CBN Data Shows Surge in Cash Demand
Automated teller machine (ATM) withdrawals in Nigeria surged sharply in the first half of 2025, reaching ₦36.34 trillion, according to…
Naira Ends Week at N1,417.95/$ as Nigeria’s External Reserves Rally
The naira closed the week on a positive note, trading at N1,417.95 per dollar in Nigeria’s official foreign exchange market,…
EU removes Nigeria, five African countries from high-risk financial list
The European Union (EU) has officially removed Nigeria and five other African countries from its list of high-risk jurisdictions for…
NRS Clarifies: No New VAT on Banking Services Under Nigeria Tax Act
The Nigeria Revenue Service (NRS) has dismissed circulating reports suggesting that the new Nigeria Tax Act introduced Value Added Tax…