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Economy
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…
PwC Warns Nigeria’s 30% Capital Gains Tax Creates Offshore Tax Loopholes
Nigeria’s new 30 per cent capital gains tax (CGT) regime could create uncertainty for companies involved in…
FG, States and LGs Share Record N3.007trn as July Revenue Jumps 18%
Nigeria’s federal, state and local governments shared a record N3.007 trillion in FAAC revenue allocation for July,…
NAFEM Turnover Hits $1.41 Billion as FX Market Activity Rebounds
NAFEM turnover surged to $1.41 billion on August 17, 2026, marking its highest level in five weeks as trading…
Nigeria’s Net FX Flow Falls 29% to $4.94 Billion in March as Outflows Surge
Nigeria’s net foreign exchange (FX) flow fell by 29% month-on-month to $4.94 billion in March 2026, down from $6.98…
Oil Price Rally Lifts Nigeria’s Earnings in First Half of 2026 – Afreximbank
Nigeria emerged as one of the African countries that benefited significantly from higher global oil prices in the…
Food Inflation Hits 20.31% in July as Rising Prices Put Fresh Pressure on…
Nigeria’s food inflation rate climbed sharply to 20.31% year-on-year in July 2026, reaching its highest level in 10…
FG Offers Nigerians Up to ₦50m Housing Loan at 6% — How to Apply
The Federal Government, through the Federal Mortgage Bank of Nigeria (FMBN), is offering eligible Nigerians an…
CBN Faces New Test as Price Stability Raises Pressure to Revive Credit and…
Nigeria’s progress in taming inflation and stabilising the foreign exchange market is beginning to create a new…
CBN: Nigeria’s IMTO Inflows Hit Record $1.29bn in Q1 2026, Rise 45%
Nigeria’s inflows through International Money Transfer Operators (IMTOs) surged to a record $1.29 billion in the…
Japan’s Oil Crisis Eases, but Soaring Import Costs Keep Economy Under Pressure
Japan’s oil crisis may be showing signs of easing, but the country is still paying a heavy economic price for…
Nigeria’s Business Week: NESG Forum, MSME Summit and $50bn Offshore Investment in…
Nigeria’s business landscape is set for a busy week as policymakers, investors, entrepreneurs and industry leaders…
FG Unveils 70:30 Profit-Oil Split to Attract New Deep Offshore Investments
The Federal Government has introduced a major fiscal incentive aimed at attracting fresh investment into Nigeria’s…
Nigeria’s Net FX Flow Drops 29% to $4.94 Billion in March 2026
Nigeria’s net foreign exchange (FX) flow fell sharply to $4.94 billion in March 2026, representing a 29% decline…