Nigeria Imports N654.94bn Worth of Goods from Africa in Q1 2026 — South Africa, Angola, Egypt Lead Trade Surge
Nigeria’s African Imports Hit N654.94bn in Q1 2026 as South Africa Tops Trade Partners Nigeria’s import trade with African countries…
Category: Economy
Naira Holds at N1,361/$ as Dollar Strengthens on Strong U.S. Jobs Data and Fed Outlook Pressure
The Nigerian naira maintained a relatively stable position against the U.S. dollar, settling around N1,361/$ in midweek trading as the…
Nigeria’s Foreign Debt Projected to Hit $72.6bn by 2027 Amid Election Spending Pressures – IMF Warns
Nigeria’s external debt is projected to rise sharply to $72.6bn by 2027, according to the International Monetary Fund (IMF), raising…
Stock Futures Fall After U.S. Strikes Iran Amid Rising Middle East Tensions
U.S. stock futures slipped early Wednesday as investors reacted sharply to escalating geopolitical tensions after the United States carried out…
CBN Drains N1.69 Trillion in Fierce Liquidity Mop-Up as Investors Rush Long-Term OMO Bills
The Central Bank of Nigeria stepped up its liquidity control measures on June 8, 2026, draining a massive N1.69 trillion…
Tinubu’s Nigeria Sees $10bn Capital Inflow, But Investors Prefer Lending Over Long-Term Investment
Nigeria’s capital inflows have hit a new record under President Bola Tinubu, with $10 billion entering the country in the…
Foreign capital inflows into manufacturing sector drop by 50.7% in Q1
Nigeria’s manufacturing sector has suffered a steep setback in attracting foreign investment, with capital inflows plunging by 50.7% in Q1…
IMF cautions Nigeria on $5bn Abu Dhabi swap deal
The International Monetary Fund (IMF) has urged Nigeria to exercise caution over its proposed $5 billion Total Return Swap (TRS)…
Dangote Named Africa’s Most Admired Brand for 8th Straight Year
Dangote Industries Limited has once again cemented its reputation as Africa’s most admired brand, retaining the top position for the…
Nigeria Records ₦7.54 Trillion Trade Surplus in Q1 2026 as Oil Exports Surge (Up 340%)
Nigeria has recorded a massive trade breakthrough in the first quarter of 2026, posting a trade surplus of ₦7.54 trillion,…
Nigeria Stock Market Slowdown Linked to New T+1 Settlement Cycle as Foreign Investors Pull Back
Nigeria’s stock market is experiencing a noticeable slowdown just days after the launch of its new T+1 settlement cycle, with…
Nigeria Trade Surplus Hits N7.55 Trillion in Q1 2026 as Oil Exports Drive 340% Surge
Nigeria’s external trade performance opened 2026 on a strong note as the country recorded a massive trade surplus of N7.55…
Lagos Targets $300 Billion Economy, Strengthens Position as Africa’s Investment Gateway
Lagos State has reaffirmed its position as Africa’s leading investment destination, unveiling ambitious plans to grow its economy to $300…
Nigeria Seeks €59m EU Support to Combat Illegal Fishing and Boost Blue Economy
Nigeria has moved to secure a major €59 million support package under the West Africa Sustainable Ocean Programme (WASOP) to…
CBN Tightens FX Rules, Slaps N100 Million Fine on Banks Over Non-Compliant Transactions
The Central Bank of Nigeria (CBN) has rolled out a major overhaul of its foreign exchange regulations, introducing a tough…
Dangote Refinery IPO Could Lift NGX Market Cap to N236 Trillion – Rewane
Bismarck Rewane, Managing Director of Financial Derivatives Company (FDC), has projected that the planned initial public offering (IPO) of the…
Reps Recover ₦521.7m VAT from CBN in Remita Revenue Leak Probe
The House of Representatives Public Accounts Committee has recovered ₦521.77 million in unremitted Value Added Tax (VAT) from the Central…
Global Markets in Turmoil as Middle East Tensions Spark Sell-Off — Asia Leads Sharp Declines
Global financial markets were thrown into uncertainty on Monday as rising tensions in the Middle East triggered a wave of…
Equities market succumbing to rising risk, loses nearly N5tr in one week
Nigeria’s equities market suffered one of its steepest weekly declines in recent years, with investors losing nearly N5 trillion in…
CBN Mops Up N3.04 Trillion in Massive OMO Auction as Investor Demand Hits Record High
The Central Bank of Nigeria withdrew N3.04 trillion from the banking system in a single OMO auction after investors subscribed…
Nigeria Stock Market Decline Deepens as Analysts Explain N5.14 Trillion Drop
The Nigerian stock market has entered a sharp correction phase, erasing more than N5.14 trillion in market value within just…
NGX Market Crash: Investors Lose N5.15 Trillion in Just Four Trading Days Amid Profit-Taking Spree
The Nigerian stock market has suffered a sharp setback as investors on the Nigerian Exchange Limited (NGX) lost a staggering…
UK Calls Nigeria Stability a Priority Amid Rising Economic and Electoral Interests
The British Government has emphasized that Nigeria’s stability remains a top priority, citing its deep economic, financial, and security investments…
Naira Strengthens Below N1,360/$ for First Time in Four Weeks as Forex Reforms Boost Market Confidence
Nigeria’s currency recorded a significant milestone on Thursday as the naira strengthened below the N1,360/$ mark for the first time…
Asia-Pacific Markets Slide as Middle East Tensions Surge and Oil Prices Climb
Asia-Pacific stock markets fell on Thursday as renewed tensions in the Middle East between Iran, the United States, and Israel…
Nigerian Banks Earn N209bn from Account Maintenance Fees in Q1 2026 Amid Rising Transaction Growth
Nigerian commercial banks recorded a significant rise in earnings from account maintenance charges, pulling in a combined N209.18bn in the…
Telecom Sector Attracts Just $7.24m Foreign Capital in Q1 2026 Despite Tariff Hike
Foreign investment into Nigeria’s telecommunications sector has dropped sharply to just $7.24 million in the first quarter of 2026, marking…
Africa Can Unlock $469bn Annually Without Raising Taxes – AfDB Pushes Efficiency Reform
Africa has the potential to unlock more than $469bn in additional annual revenue without increasing tax rates, according to the…
Tinubu, African Leaders Seek Stronger Global Investment Partnerships at London Stock Exchange
President Bola Tinubu has joined fellow African leaders in calling for stronger partnerships with global financial institutions, stressing that deeper…
CBN Raises N1.46 Trillion at Treasury Bills Auction as Investor Demand Soars
The Central Bank of Nigeria (CBN) has raised N1.457 trillion at its June 3, 2026 Treasury Bills (NTB) auction, as…