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Economy
Tinubu Backs $3.1bn AfCFTA Customs Modernisation Project to Boost African Trade
President Bola Ahmed Tinubu has thrown his weight behind the $3.1 billion AfCFTA Customs Modernisation Project,…
FG Targets 8,000MW Electricity Supply by 2027 as Nigeria Deepens Power Reforms
The Federal Government has set an ambitious target of 8,000 megawatts (MW) of electricity generation and…
Nigeria’s Manufacturing Sector Still Stuck Below 10% of GDP After a Decade of…
Nigeria’s manufacturing sector is struggling to break through a ceiling that has persisted for years. Despite…
Despite Cashless Policy, Nigeria’s Currency in Circulation Hits N5.73 Trillion as…
Nigeria’s currency in circulation has jumped 72.4% in five years to N5.73 trillion, highlighting a surprising trend…
FG Disburses N600bn to 10 Million Households in Cash Transfer Programme
The Federal Government has disclosed that more than N600 billion has been disbursed to over 10 million households…
Nigeria’s Foreign Reserves Cross $53 Billion, Hit Highest Level Since 2009
Nigeria’s foreign reserves have climbed above $53 billion for the first time in more than 17 years, reaching $53.11…
IMF Warns Excessive Regulation, Weak Institutions Could Slow G20 Growth
The International Monetary Fund (IMF) has warned that excessive regulation and weak institutions could hold back…
FG Raises N7.62tn Through Domestic Bond Market in Eight Months
The Federal Government has raised N7.62tn from the domestic bond market between January and August 2026,…
Nigeria’s FX Reserves Surge 15% to $52.66bn, Beat CBN’s 2026 Forecast
Nigeria’s foreign exchange reserves have climbed to $52.66 billion, marking a 15.6 percent increase in less than…
IMF Urges Nigeria to Deepen Fiscal, Monetary and Governance Reforms
The International Monetary Fund (IMF) has urged Nigeria and other major African economies to intensify fiscal,…
FG Spends N6.47tn on Infrastructure as Lagos-Calabar Highway Takes Lion’s Share
The Federal Government spent N6.47tn on strategic infrastructure projects between June 2023 and December 2025, with…
Tinubu Leads Africa’s Push to Turn Mineral Wealth Into Industrial Power
President Bola Tinubu is set to lead a major African push to gain greater control over the continent’s mineral…
FEC okays double taxation treaties with Ghana, Tanzania, Switzerland
The Federal Executive Council (FEC) has approved the signing of Double Taxation Avoidance Agreements between…
Naira Gains N1.13, Closes at N1,346.49/$ as Week Ends on Positive Note
The naira ended the trading week on a stronger note, closing at N1,346.49 to the US dollar at the official foreign…
Five Firms Power Nigeria’s $120m Non-Oil Export Surge
Nigeria’s push to reduce its dependence on crude oil is gaining momentum, with five companies generating about…
FG Spends N30.6tn After Subsidy Removal, Says Reforms Generated N15.8tn
Thirty months after President Bola Tinubu removed the petrol subsidy, the Federal Government has disclosed that the…
FG Raises N7.2trn Through Bonds as Funding Gap Widens
The Federal Government has raised nearly N7.2 trillion through bond auctions in 2026, as it continues to rely…
Nigeria’s Energy Inflation Falls Sharply to 4.37% in July as Price Pressures Ease
Nigeria’s energy inflation recorded a sharp slowdown in July, falling to 4.37 per cent from 9.83 per cent in June,…
NESG Projects Nigeria’s External Reserves to Hit $53bn by Year-End
Nigeria’s external reserves are projected to rise to about $53bn by the end of 2026, as the Nigerian Economic…
World Bank Targets 32 Million Nigerians for Electricity Access by 2032
The World Bank has unveiled an ambitious plan to connect 32 million Nigerians to electricity by 2032, as part of a…
Trump announces ‘most crushing economic operation’ against Iran
US President Donald Trump has announced what he described as the “most crushing economic operation” ever imposed…
Oyedele Gives Account of FG’s Reforms After President’s Directive
The Federal Government has defended the impact of President Bola Tinubu’s economic reforms, saying the removal of…
Nigeria’s Energy Inflation Falls to 4.37% in July, Lowest in Four Months
Nigeria’s energy inflation rate dropped sharply to 4.37% in July 2026, marking its lowest level in four months and…
Dollar Demand Falls 35% as Naira Gains Ground on FX Market
Nigeria’s demand for foreign exchange dropped sharply by 35.23 per cent to $3.42bn in April 2026, easing pressure…
Nigeria Mobilised N15.8trn from Petrol Subsidy Removal in Two Years — Oyedele
Nigeria mobilised N15.8 trillion in resources from petrol subsidy savings between June 2023 and December 2025,…
36 States’ Budgets Surge 47% to N40tn as Capital Spending Share Drops
Nigeria’s 36 states and the Federal Capital Territory (FCT) have significantly expanded their budgets for 2026,…
FAAC Revenue Jumps 17.8% to ₦4.359tn in July as FG, States, LGs Share ₦3.007tn
The Federation Account recorded a major boost in revenue in July 2026, with gross revenue rising to ₦4.359…
Farmers fear crisis as food inflation hits six-month high
Nigeria’s food inflation has climbed to a six-month high of 20.31 per cent, raising fresh concerns about the…
Investors Submit N1.73tn as DMO Allots N1.56tn in FGN Bond Auction
Investors showed strong appetite for Nigerian government securities as they submitted bids worth N1.73 trillion at…
Naira Strengthens as Nigeria’s Foreign Reserves Hit $52.5bn, CBN Says
Nigeria’s foreign exchange market is showing fresh signs of stability as the naira continues to strengthen, with…