Naira Falls to N1,361.5/$ as FX Market Turnover Plunges 57% Despite Rising External Reserves
The Nigerian naira weakened slightly against the US dollar on Wednesday, closing at N1,361.5/$ in the Nigerian Foreign Exchange Market…
Category: Economy
FG Rules Out New Fuel and Telecom Taxes Amid IMF Recommendations Debate
The Federal Government has moved to calm public concerns by ruling out any immediate plans to introduce new taxes on…
FG Unveils Ward-Based Growth Strategy to Strengthen Economy Under Renewed Hope Plan
The Federal Government has unveiled a fresh development blueprint aimed at strengthening Nigeria’s economy through a grassroots-driven model under President…
UAE Reaffirms Long-Term Investment Commitment to Nigeria as Trade Ties Deepen
The United Arab Emirates has reaffirmed its commitment to long-term investments in Nigeria, underscoring the growing economic partnership between both…
FG Releases Just 4.9% of N54.93tn Road Budget as Funding Gaps Threaten Key Highway Projects
Despite allocating a massive N54.93 trillion for road construction, rehabilitation and maintenance projects between 2023 and April 2026, the Federal…
West African Trade Ministers Push Regional Industrialisation Drive at ECOWAS Summit in Ghana
West African trade and industry leaders have taken a major step toward deepening regional economic integration after the fifth ECOWAS…
CBN offers N450 billion Treasury Bills for auction on Wednesday, June 17
The Central Bank of Nigeria (Central Bank of Nigeria) is set to conduct a N450 billion Treasury Bills auction on…
Nigeria External Reserves Rise by $1.01bn in Two Weeks, Cross $50bn as Investor Confidence Strengthens
Nigeria’s external reserves have continued their upward momentum, rising by more than $1.01 billion in just two weeks of June…
Stablecoin Inflows in Nigeria Dominate Sub-Saharan Africa, IMF Report Reveals Digital Currency Shift
Nigeria has emerged as a central hub for digital asset movement in Africa, accounting for about 60% of stablecoin inflows…
Foreign Investors Pour $3.3bn Into Nigerian Bonds as High Yields Drive Confidence Surge
Foreign investors have significantly increased their exposure to Nigeria’s debt market, injecting about $3.23bn into Nigerian bonds in the first…
IMF Says Naira Undervalued by 25.6%, Estimates Fair Exchange Rate at N1,142 per Dollar
The International Monetary Fund (IMF) has revealed that the Nigerian naira remains significantly undervalued despite recent improvements in the foreign…
Dangote Refinery Cuts Petrol Price by N75 Amid Global Oil Price Drop
Dangote Petroleum Refinery has announced a reduction in the gantry price of Premium Motor Spirit (petrol), slashing it by N75…
CBN Liquidity Tightening – N3.83 Trillion Withdrawn Shakes Nigeria’s Financial System
Nigeria’s financial system came under pressure last week as the Central Bank of Nigeria intensified its liquidity control measures, withdrawing…
US–Iran Peace Deal Sends Shockwaves Through Global Markets — What It Means for Nigeria’s Economy
Global relief as US–Iran peace deal calms energy markets A newly announced peace agreement between the United States and Iran…
U.S. Stock Futures Flat After Dow Record Close on U.S.–Iran Deal; Asian Markets Hit Record Highs
U.S. stock futures were mostly unchanged on Tuesday following a strong rally in the previous session that pushed the Dow…
Naira strengthens to N1,356/$ amid rising reserves — strongest level since April 2026
The Nigerian naira recorded a fresh gain on Monday, strengthening to N1,356 per US dollar at the official foreign exchange…
Nigeria Gas Production Hits 7.93bcf/d in May 2026 as Output Strengthens
Nigeria’s natural gas sector recorded a modest but steady growth in May 2026, with average daily production rising to 7.93…
Nigeria Inflation Rate Climbs to 15.93% in May as Rising Prices Continue to Squeeze Consumers
Nigeria’s inflation rate rose to 15.93% in May 2026, highlighting the continued pressure of rising prices on households and businesses…
Nigeria’s Corporate Giants Reap Reform Windfall as Cash Flows Surge 247% in Three Years
Three years after President Bola Tinubu introduced sweeping economic reforms, Nigeria’s largest listed companies are showing remarkable financial resilience, with…
Nigeria Overtakes Morocco as Africa’s Second-Largest Stock Market Amid Record Rally
Nigeria has climbed to become Africa’s second-largest stock market, overtaking Morocco after a remarkable rally that has transformed the Nigerian…
CBN Liquidity Tightening Sparks Rush into Short-Term Debt as Investors Chase High Yields
Nigeria’s financial markets are undergoing a sharp recalibration as the Central Bank of Nigeria intensifies its liquidity tightening campaign, pushing…
Naira Slips Again as FX Liquidity Tightens, Loses N5.08 in a Week
The naira came under renewed pressure this week as weaker dollar supply in the foreign exchange market triggered fresh depreciation…
Tinubu @ 3: Nigeria’s Stock Market Surges N130 Trillion Amid Economic Hardship and Bold Reforms
Nigeria’s stock market has delivered one of its most dramatic wealth surges in recent history, rising from about N30 trillion…
US–Iran Peace Deal Could Crash Petrol Price to N900 as Global Oil Market Slumps
The price of petrol in Nigeria may soon see a major relief, with industry operators suggesting that Premium Motor Spirit…
Crude Oil Prices Fall After US–Iran Peace Deal Reopens Strait of Hormuz | Global Markets Rally
Global oil prices fell sharply on Monday while stock markets surged after the United States and Iran announced a landmark…
Nigeria Company Income Tax Falls to N1.37 Trillion in Q1 2026 as Collections Decline 8.08%
Nigeria’s Company Income Tax (CIT) collections recorded a notable decline in the first quarter of 2026, as new data from…
Nigeria VAT Surges to N2.42 Trillion in Q1 2026 as Economy Strengthens Non-Oil Revenue Base
Nigeria’s economy recorded a strong boost in non-oil revenue as Value Added Tax (VAT) collections climbed to N2.42 trillion in…
UK Pledges £15m to Boost Nigeria’s Economy
The United Kingdom has announced a £15 million Growth Programme for Nigeria, a strategic initiative aimed at accelerating economic reforms,…
Nigeria VAT Collections Hit N2.42 Trillion in Q1 2026 as Tax Revenue Surges 17%
Nigeria’s Value Added Tax (VAT) revenue has recorded a strong start to 2026, rising to N2.42 trillion in the first…
World Bank Cuts Nigeria’s Growth Outlook to 4.1% as Structural Weaknesses Weigh on Economy
The World Bank has revised Nigeria’s economic growth projection downward to 4.1% for 2026, warning that deep-rooted structural challenges continue…