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Economy
FG, World Bank invest $600m on rural roads
The Federal Government of Nigeria, in collaboration with the World Bank, has earmarked $600 million to…
High currency in circulation fails to tame cash scarcity
Cash scarcity continues to trouble Nigerians despite the Central Bank of Nigeria (CBN) reporting a record high of…
Nigeria Needs Robust Policies To Boost Foreign Trade – Analysts
Analysts have urged Nigeria’s fiscal and monetary authorities to adopt strategic policies aimed at enhancing…
Firm partners NexHub to boost creative exports
Bruit Costaud, a leading policy communications and government affairs firm, partnered with NexHub to amplify…
World Bank may approve $500m loan to Nigeria today
The World Bank is expected to approve a $500 million loan for Nigeria to enhance rural access and agricultural…
NAICOM ICRC Set Agenda for Insurance of Public-Private Assets
The National Insurance Commission (NAICOM) and the Infrastructure Concession Regulatory Commission (ICRC) have…
AFD extends additional 50m Euros funding to DBN
The French Agency for Development (AFD) has extended a €50 million credit line to the Development Bank of Nigeria…
Recapitalisation: ASSIBIFI president underscores impact on banking industry
Olusoji Oluwole, the president of the Association of Senior Staff of Banks, Insurance, and Financial Institutions…
Foreign portfolio inflows boost Nigeria’s FX reserves by $7.7bn
Nigeria's external reserves saw a significant increase of $7.7 billion, reaching $40.3 billion by November 2024,…
Forex Challenges Blamed for High Petrol Prices in Nigeria
Operators in Nigeria’s downstream oil sector attribute the high cost of locally refined petrol to…
CBN Debunks Claims of FX Sales to BDCs at N1,301 per Dollar
The Central Bank of Nigeria (CBN) has refuted allegations of selling foreign exchange (FX) to Bureau de Change…
House of Representatives Probes CBN Over Naira Scarcity
The Nigerian House of Representatives has launched an investigation into the Central Bank of Nigeria (CBN)…
Tax Reform Bills: Northern Leaders Not Well-Informed — Onuesoke
Chief Sunny Onuesoke, a prominent member of the Peoples Democratic Party (PDP) and former governorship candidate…
Oil & Gas Industry: PENGASSAN Kicks Against Flagrant Abuse Of Expatriate Quota
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised concerns about the high…
NPA, Nigerdock finalize $1bn Snake Island Port agreement
In a significant step toward advancing green port development in Nigeria, Nigerdock and the Nigerian Ports…
Algeria, Angola Others Still Owe $1.7bn In Foreign Airlines Blocked Funds – IATA
The International Air Transport Association (IATA) has highlighted Algeria, Angola, and Eritrea as countries that…
Trump’s Economic Policies Pose Risks to Nigerian Banks and Investments
Donald Trump’s proposed tax reforms and tariffs, including a corporate tax cut from 21% to 15%, could disrupt…
Total inflows into NAFEM grew to $4.05bn in November –FMD
The Nigerian Autonomous Foreign Exchange Market (NAFEM) experienced significant growth in November, with total…
We’ve Started Seeing Positive Results From Our Reforms – Tinubu Tells IMF Chief
President Bola Tinubu has said Nigerians are now seeing the positive results of his administration’s reforms.
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We strongly support Tinubu’s reforms, says IMF MD
Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), says the organisation is…
Virgin Islands top court authorises Chinese investors Zhongshan to seize $25…
A top court in the British Virgin Islands has granted Chinese investors Zhongshan the authority to seize £20…
FCMB Partners with EStars to Bring Esports Education to Nigerian Schools
First City Monument Bank (FCMB) is working with EStars to bring esports education to Nigerian schools. They want…
Banks free to trade with deposited FX – CBN
The Central Bank of Nigeria (CBN) has released guidelines for banks to implement a new foreign exchange deposit…
IMF Chief Highlights Four Steps In Managing Systematic Reforms
In a recent interview, IMF's Deputy Division Chief, Antonio David, outlined a strategic approach for African…
Nigeria’s Fiscal Deficit Hits N4.53 Trillion in Q2 2024 as Spending Outpaces…
Nigeria's fiscal deficit reached N4.53 trillion in the second quarter of 2024, up from N3.88 trillion in the first…
Naira appreciates to N1,725/$ in parallel market
The Naira saw a slight appreciation in the parallel market on Monday, rising to N1,725 per dollar from N1,735 last…
How the US Election Outcome Could Impact Nigeria
With the U.S. presidential election approaching, Nigerian analysts weigh the potential impacts of either Donald…
Foreign Inflows Surge in Nigeria’s Forex Market Amid Currency Challenges
In a significant turnaround, the Nigerian Autonomous Foreign Exchange Market (NAFEM) has reported total inflows…
CBN, IFC to provide $1bn funding options to Nigerian businesses
The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement…
Nigeria Supports 600,000 Farmers to Combat Inflation and Boost Food Supply
The Nigerian Federal Government has announced a major initiative to support 600,000 small-scale farmers to enhance…