World Bank drives more budget allocations to critical sectors
Nigeria has leveraged the World Bank’s Programme-for-Results (PforR) to increase funding and budget allocations to key sectors of the economy,…
Category: Local
Dangote Refinery Boosts Fuel Exports Amid Middle East Refinery Shutdowns
The $20 billion Dangote Petroleum Refinery has ramped up exports of petrol, aviation fuel, and diesel as refineries across Saudi…
Nigeria Economic Society Pushes for Inclusive Growth, Honours Shettima, CBN Governor, and Global Economist Dr. Iyabo Masha
The Nigeria Economic Society (NES) has emphasized the need for inclusive economic growth as it prepares to honour Vice President…
Nigeria’s Environmental Future Depends on Artificial Intelligence, Experts Warn
Experts have raised fresh concerns that Nigeria’s survival against worsening climate change, resource depletion, and public health risks will depend…
Nigeria First’ Policy to Generate N3 Trillion for Economy, Says Trade Minister
The Federal Government has projected earnings of about N3 trillion from its ‘Nigeria First’ policy, a campaign designed to encourage…
Startups tap eSIM boom to disrupt telcos
Nigeria’s telecom sector is witnessing a new wave of disruption as technology startups in the eSIM space emerge to challenge…
NGX Opens September with ₦363bn Loss as Market Indices Decline
The Nigerian Exchange (NGX) began September on a bearish note, with investors losing a total of ₦363 billion in market…
Forex Market: Chinese Traders Accepting Naira for Yuan as Currency Swap Boosts Naira Stability
Nigeria’s foreign exchange market is witnessing new dynamics as Chinese traders increasingly accept naira for yuan transactions instead of demanding…
CBN’s $2 Billion FX Forwards Audit: Winners, Losers, and the Future of Nigeria’s Forex Market
The Central Bank of Nigeria (CBN) has concluded a forensic audit into disputed foreign exchange (FX) forward contracts, uncovering irregularities…
Amid Excess Liquidity in Financial Sector, Banks’ Borrowing from CBN Slumps 28.2% to N2.9tn in August 2025
Amid excess liquidity in the financial sector, banks’ borrowing from the Central Bank of Nigeria (CBN) dropped by 28.2 per…
Naira Holds Steady in Black Market as U.S. Dollar Weakens Amid Global Uncertainty
The Nigerian naira remained stable in the black market, trading just below the N1.550/$ range in the first session of…
Nigeria’s Gas Flaring Drops to 7.16% in July 2025 as Gas Production Hits 7.59 BSCFD
Nigeria recorded a significant energy milestone in July 2025 as gas flaring fell to 7.16%, even as daily gas production…
Dangote Refinery Sources Ghana Crude Amid Production Questions, RFCC Unit Maintenance Reported
Nigeria’s Dangote Refinery has, for the first time, imported crude oil from Ghana, signaling a shift toward greater supply flexibility…
Nigeria’s 70% Broadband Target at Risk as NCC Reports Consecutive Decline in July
Broadband penetration in Nigeria fell to 48.01% in July 2025, marking the second consecutive monthly decline, according to the Nigerian…
Nigeria Must Achieve 8% GDP Growth to Hit $1 Trillion Economy by 2030 — Minister Enoh
Nigeria must raise its Gross Domestic Product (GDP) growth from the current 3 percent to around 8 percent to achieve…
FX Stability, Capital Inflows Push Nigerian Stock Market to N26trn Gain in 8 Months
Nigeria’s stock market recorded a remarkable growth of N26.01 trillion in market capitalisation within the first eight months of 2025,…
Nigeria’s New Debt Strategy Sparks Sustainability Concerns as $1 Trillion Economy Goal Faces Risks
Nigeria’s revised Medium-Term Debt Management Strategy (MTDS) for 2024–2027 has stirred debate over the country’s rising debt burden, with stakeholders…
Union Bank completes merger with Titan Trust Bank
Union Bank of Nigeria has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval…
Naira Strengthens to ₦1,531.57/$ as CBN Interventions and Rising Reserves Bolster FX Market
The Nigerian naira appreciated to ₦1,531.57 per dollar on Friday, marking a 0.23% gain week-on-week in the official foreign exchange…
NGX Revenue Jumps to N24bn on Bank Recapitalisation and New Listings
The Nigerian Exchange Group Plc (NGXGROUP) reported a significant revenue growth to N24 billion in the 2024 financial year, boosted…
Ghana Treasury Bills Undersubscribed by 50% as Yields Decline Across All Tenors
Treasury bill auctions in Ghana continue to struggle with weak investor demand, as the latest primary market results revealed a…
Clearing Agents Urge Customs to Extend Deadline on 905 Overtime Cargoes in Lagos Ports
Licensed clearing agents have appealed to the Nigeria Customs Service (NCS) to extend its two-week ultimatum for importers to clear…
Nigeria’s Internet Data Usage Hits Record High Despite Falling Subscriptions
Nigeria’s internet usage has reached a record peak even as millions of subscribers abandon telecom networks due to rising costs.…
Nigerian Bank Customers Decry Failed USSD Transactions, Hidden Charges, and Demand CBN Intervention
Bank customers across Nigeria are raising concerns over rising cases of failed transactions and unexplained charges on electronic banking channels,…
Nigeria’s Digitized Public Services Could Unlock $110bn Annual Economic Gain — Telecom Stakeholders
Nigeria’s telecommunications stakeholders have projected that fully digitized public services could generate more than $110 billion annually, citing reduced inefficiencies, improved…
Non-Oil Sector Drives Nigeria’s Tax Revenue to N17.4trn in Seven Months, Hits Record Growth
Nigeria’s diversification efforts are yielding results as the non-oil sector powered tax revenues to N17.4 trillion between January and July 2025, marking…
SCOA, RTBRISCOE Lead Gainers as Nigerian All-Share Index Falls 0.49%
The Nigerian Exchange (NGX) closed on a bearish note on Thursday, August 28, as the All-Share Index (ASI) slipped by…
NITDA, Google Partner to Boost Cybersecurity and Digital Innovation in Nigeria
The National Information Technology Development Agency (NITDA) has partnered with Google to strengthen Nigeria’s cybersecurity ecosystem and accelerate the country’s…
NESG Urges FG to Drive Economic Growth Through Productivity, Not Inflation Control
The Nigeria Economic Summit Group (NESG) has urged the Federal Government to shift its economic growth strategy from inflation management…
Nigeria’s Diaspora Remittances Surge to $600m Monthly, Says CBN Governor Cardoso
Nigeria’s diaspora remittances have witnessed a sharp surge, hitting $600 million monthly in the past two months, according to the…