ECOWAS Workshop Reinforces Regional Energy Data Integration
The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to enhancing regional energy data integration with the…
Category: Local
Q4 2024 GDP Report Reveals Economic Weaknesses and Imbalance – Expert Analysis
The recently released Q4 2024 GDP figures from the National Bureau of Statistics (NBS) indicate a quarter-on-quarter growth of 3.84%…
ICT Contributes 17.7% to Nigeria’s GDP, Telecom Sector Leads Growth
In a recent report from the National Bureau of Statistics (NBS), the Information and Communications Technology (ICT) sector contributed 17.68%…
World Bank to Approve $2.2 Billion Loan for Nigeria in 2025
Nigeria is set to receive a $2.2 billion loan from the World Bank in 2025, aimed at supporting six major…
Interswitch Pushes for AI Integration in Africa’s Workforce and Economy
Interswitch, a leading integrated payments and digital commerce company in Africa, is emphasizing the critical role of Artificial Intelligence (AI)…
NESG Calls for AI Adoption in Nigerian Town Planning to Boost Productivity
The Chairman of the Nigeria Economic Summit Group (NESG), Olaniyi Yusuf, has emphasized the need for the integration of Artificial…
Concerns Mount as Naira Strengthens Amid Decline in Forex Reserves
The Nigerian naira has shown notable improvement recently, gaining strength due to foreign exchange reforms implemented by the Central Bank…
Finance and Insurance Sectors Drive Nigeria’s GDP Growth in 2024
In 2024, Nigeria’s finance and insurance sectors played a significant role in boosting the country’s real GDP growth, contributing 6.22%,…
Naira Strengthens to N1,485 as Dollar Liquidity Improves
The Nigerian naira has strengthened against the US dollar in the parallel market, reaching a rate of N1,485 per dollar,…
SEC Shortens Capital Market Approval Time to 14 Days
The Securities and Exchange Commission (SEC) has significantly reduced the approval time for companies looking to raise funds in Nigeria’s…
Rewane: CBN’s Intervention Policies Strengthen Naira Stability
Economist Bismarck Rewane, CEO of Financial Derivative Company, has praised the Central Bank of Nigeria’s (CBN) recent foreign exchange market…
LCCI Calls for Monetary Policy to Address Real Economic Pressures, Not Just Statistical Inflation
The Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona, has urged the Central Bank of…
Experts Predict Strong Q4 GDP Growth in Nigeria but Full Year May Fall Short
Nigeria’s economy is projected to see a strong Q4 2024 GDP growth, surpassing the 3.46% recorded in Q3 2024. Analysts…
Tinubu Vows Support for Fintech Growth in Nigeria
President Bola Tinubu has pledged his administration’s commitment to supporting the growth of the financial technology (Fintech) sector, particularly businesses…
Stock Market Experiences N231bn Loss as Bearish Trends Persist
The Nigerian stock market started the week on a negative note, with significant losses amounting to N231 billion. The All-Share…
Naira Strengthens Against Major Currencies Following EFEMS Introduction
The Naira has shown significant improvement against major foreign currencies, including the British Pound, Euro, and Canadian Dollar, since the…
Young Nigerians Positioned to Drive AI Growth for Economic Prosperity
Victor Benjamin, the West/South-South Director for Young Professionals for Tinubu, has emphasized that young Nigerians will play a crucial role…
CBN Pledges to Enhance Nigeria-Saudi Economic Relations
The Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, has reaffirmed the bank’s commitment to strengthening economic…
Nigeria’s Currency in Circulation Reaches N5.24 Trillion, 90.4% Held Outside Banks
Nigeria’s total currency in circulation hit a record high of N5.24 trillion in January 2025, reflecting a 43.5% increase from…
Brazil’s JBS to Invest $2.5 Billion in Ogun State’s Livestock Industry
In a major boost to Nigeria’s livestock sector, JBS, the world’s largest protein producer based in Brazil, has announced a…
Nigeria Seeks Saudi Investment for Infrastructure Development
The Nigerian government has initiated discussions with the Saudi Fund for Development (SFD) regarding potential investments in the country’s infrastructure.…
Dangote Refinery Holds Over 500 Million Litres of PMS, Aims to Export 60% of Production
Dangote Industries Limited (DIL) has made significant strides in Africa’s energy sector, with President Aliko Dangote revealing that its refinery…
Financial Inclusion Key to Nigeria’s Economic Development, Says CBN
The Deputy Governor for Financial Systems Stability at the Central Bank of Nigeria (CBN), Mr. Philip Ikeazor, emphasized the importance…
Equity market gains N1.83tn in one week
The Nigerian equity market recorded a gain of N1.83 trillion last week, as the All-Share Index and Market Capitalisation appreciated…
CBN Is Likely to Retain Interest Rates Amid Economic Concerns – Coleman Wires CEO
Ahead of the next meeting of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), industry stakeholders are projecting…
Cloud Expo 2025 Set to Boost Africa’s $180bn Digital Economy
The IoT West Africa and Data Centre Cloud Expo 2025, co-located with Power and Water Nigeria, is set to be…
CBN Mandates Banks to Publish Details of Dormant Accounts and Unclaimed Funds
In a notable shift in policy, the Central Bank of Nigeria (CBN) has directed banks and financial institutions to publicly…
CSCS Launches Upgraded RegConnect Version 2 to Improve Data Exchange for Registrars
The Central Securities Clearing System Plc (CSCS) has unveiled an enhanced version of its web-based application designed to streamline operations…
Naira Appreciates to N1,535 per Dollar in Black Market Amid Improved Liquidity
The naira has gained value in the parallel (black) market, reaching N1,535 per dollar, driven by a reduction in demand…
Senate to Hold Public Hearing on Tax Reform Bills February 24-25
The Nigerian Senate is set to hold a two-day public hearing on the four tax reform bills presented by President…