Nigeria’s FX Market Hits Three-Month High as Turnover Climbs to $3.05 Billion
Nigeria’s foreign exchange market has kicked off the third quarter of 2026 on a strong note, recording its highest weekly…
Category: Economy
FG Seeks Community Backing for Dangote Industrial City and Africa’s Largest Deep Seaport Project
The Federal Government has appealed to residents and stakeholders in Ogun and Ondo states to fully support the proposed Dangote…
NOG Energy Week, Microfinance Bank Liquidation Lead Major Business Developments This Week
Nigeria’s business landscape is set for another eventful week as key developments across the energy, banking, and financial sectors take…
AfCFTA Digital Trade Forum Calls for Faster Implementation of Africa’s Digital Trade Protocol
The African Continental Free Trade Area (AfCFTA) Digital Trade Forum 2026 has ended with a strong call for member states…
Nigeria Revenue Service Generates N21.6 Trillion in Six Months as Tax Reforms Drive Record Revenue Growth
Nigeria’s revenue drive has gained significant momentum, with the Nigeria Revenue Service (NRS) generating an impressive N21.6 trillion in the…
Nasdaq Futures Slide as Chip Stocks Tumble, Raising Concerns Ahead of Q2 Earnings Season
U.S. stock futures traded mixed on Tuesday as a fresh wave of selling in semiconductor stocks dragged Nasdaq futures lower,…
DMO Unveils July 2026 FGN Savings Bond at Record 15.716% Interest Rate, Highest Return This Year
The Debt Management Office (DMO) has launched the July 2026 FGN Savings Bond, offering Nigerians an opportunity to earn up…
Ghana Settles $700 Million Eurobond Early, Pays $2.1 Billion to Investors Since 2025
The Government of Ghana has taken another major step in its debt recovery efforts by settling a $700 million Eurobond…
Oyedele Rejects IMF Claim of ₦8 Trillion Unreported Spending, Insists No Secret Budget Exists
The Federal Government has firmly rejected claims by the International Monetary Fund (IMF) that Nigeria spent more than ₦8 trillion…
Bank Recapitalisation Drained Funds from Nigeria’s Productive Economy, Says Adonri
Nigeria’s banking recapitalisation programme may have succeeded in strengthening the financial sector, but it came at a significant cost to…
Tinubu Secures $11.4bn World Bank Loans in Three Years, Nears Buhari’s Eight-Year Record
President Bola Tinubu’s administration has secured an impressive $11.4 billion in World Bank loan approvals within just three years, bringing…
Nigerian Businesses Hold Ground Despite Rising Costs and Credit Challenges, NESG Report Shows
Nigeria’s business sector continued to show resilience in June 2026, maintaining a steady level of confidence despite mounting economic pressures.…
Naira Remains Stable as CBN Tightens Policy and Rising Oil Output Strengthens FX Reserves
The Nigerian naira is maintaining a stronger footing in 2026, offering a sense of relief to businesses, investors, and consumers…
Nigeria, China Strengthen Investment Ties with New Focus on Energy, Exports and Industrial Growth
Nigeria and China have taken a significant step toward strengthening economic cooperation, with business leaders from both countries committing to…
Nigeria, Canada Push Data-Driven Investment Strategy to Unlock Trade Growth
Nigeria and Canada are intensifying efforts to strengthen their economic partnership, with both countries placing greater emphasis on data-driven investment…
Afreximbank Urges Nigeria, African Nations to End Lithium Exports and Build EV Battery Industry
African Export-Import Bank (Afreximbank) President and Chairman of the Board, Dr. George Elombi, has called on Nigeria and other African…
US-Nigeria Trade Surges to $15 Billion as America Deepens Economic and Security Partnership
The United States has reaffirmed its commitment to strengthening ties with Nigeria after bilateral trade between both countries climbed to…
Dangote Cement Raises Dividend by 50% as Shareholders Receive Record N753.8 Billion Payout
Dangote Cement Plc has rewarded its shareholders with a historic dividend payout after announcing a 50 per cent increase in…
Naira Falls 1.1% in June Despite Strong FX Liquidity as Market Confidence Grows
Nigeria’s currency market showed signs of growing resilience in June 2026 as the naira recorded only a marginal decline despite…
Afreximbank Invests 80% of Resources in Africa to Drive Infrastructure and Economic Growth
The African Export-Import Bank (Afreximbank) has revealed that about 80 per cent of its balance sheet is currently invested in…
IMF Flags Missing Public Spending in Nigeria’s Budget, Says 2% of GDP Went Unreported
The International Monetary Fund (IMF) has raised concerns over Nigeria’s fiscal reporting, revealing that public spending equivalent to about 2%…
Nigeria Leads Africa in IMD Economic Performance Ranking Despite Competitiveness Challenges
Nigeria has been ranked as the highest-performing economy in Africa on the economic performance pillar of the International Institute for…
World Bank Approves $1.25bn Nigeria Loan Amid Growing Debt Concerns and Economic Reform Push
The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs…
Nigeria’s $1.5bn Abu Dhabi Drawdown to Cut Borrowing Costs, Says Oyedele
Nigeria’s decision to access only $1.5 billion from its $5 billion financing arrangement with First Abu Dhabi Bank (FAB) is…
Naira Ends June at N1,376/$ as Forex Market Weathers Volatility and Maintains Stability
The Nigerian naira closed June 2026 at N1,376 against the United States dollar in the official foreign exchange market, ending…
Nigeria Eyes Return to Global Debt Market with First Eurobond Sale Since November
Nigeria is taking significant steps toward re-entering the international debt market as the Debt Management Office (DMO) begins preparations for…
Nigeria Tops African Peers in IMD Economic Performance Ranking Despite Competitiveness Challenges
Nigeria has emerged as the highest-performing African economy in the International Institute for Management Development (IMD) World Competitiveness Ranking 2026,…
World Bank to End China Lending by 2031 as Partnership Enters New Phase
The World Bank has announced plans to phase out lending to China by 2031, signaling a significant change in its…
FTSE Russell Delays Nigeria Frontier Market Upgrade Over Concerns About New T+1 Settlement Cycle
Nigeria’s anticipated return to Frontier Market status has hit an unexpected hurdle after global index provider FTSE Russell announced that…
Fuel Pricing Reform Takes Center Stage as FG Moves to Protect Nigerians from Unfair Petrol Costs
The Federal Government has announced fresh efforts to address growing concerns over fuel pricing in Nigeria, assuring citizens that discussions…