Stabilizing Naira and Slower Price Increases Ease Business Costs in January
In January 2025, the Nigerian business environment saw a reduction in operating costs, primarily due to the stability of the…
Category: Local
NAICOM’s Reform Plans to Strengthen Nigeria’s $1 Trillion Economy
The Commissioner for Insurance and CEO of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, outlined plans for institutional reforms…
Dangote Refinery Set to Reach Full Capacity in 30 Days, Boosting Nigeria’s Economic Recovery
Nigeria’s Dangote Refinery, the largest in Africa, is set to operate at full capacity within the next 30 days, as…
CBN Facilitates $5.63 Billion in International Payments Amid Economic Challenges in 2024
The Central Bank of Nigeria (CBN) facilitated $5.63 billion in international payments during the first nine months of 2024, marking…
CBN Reschedules February 2025 MPC Meeting Amid CPI Release Delays
The Central Bank of Nigeria (CBN) has officially announced a new date for its 299th Monetary Policy Committee (MPC) meeting,…
COMAC Demands Independent Audit of Gold-for-Oil Program Amid Financial Concerns-GHANA
The Chamber of Oil Marketing Companies (COMAC) is urging for an independent audit of the Bulk Energy Storage and Transportation…
VP Shettima Launches Committee to Drive Nigeria’s Trillion-Dollar Economic Vision by 2030
Vice President Kashim Shettima recently inaugurated the Presidential Committee on Economic and Financial Inclusion (PreCEFI) as part of the Nigerian…
MOFI Launches N100bn Series 2 Offering to Tackle Nigeria’s Housing Deficit
The Ministry of Finance Incorporated (MOFI) has launched a N100 billion Series 2 offering under the MOFI Real Estate Investment…
Naira’s Strong Rally Disrupts FX Market Amid Dollar Sell-off and Reform Uncertainty
The Nigerian naira has seen a notable appreciation, catching traders in the foreign exchange (FX) market off-guard, particularly within the…
Nigerian Stock Market Dips as Zenith Bank Leads Profit-Taking Activity
The Nigerian stock market opened the week on a mixed note, with the All-Share Index (ASI) declining by 0.04% due…
Nigeria Set to Benefit from $4.4 Billion Investment in Agro-Industrial Zones
The African Development Bank (AfDB) has announced a significant $4.4 billion investment aimed at expanding the Special Agro-Industrial Processing Zones…
Nigeria’s Crude Oil Production Costs Spark Concerns as Expenditures Soar to N18tn Annually
Nigeria is facing growing concerns over the high cost of crude oil production, with industry experts warning that the country…
FBN Holdings Reports 154% Surge in Net Interest Income Due to Rate Hike
FBN Holdings experienced a significant 154.5% rise in its net interest income for the year 2024, largely due to the…
IFC invests $50 million in Lagos Free Zone to boost Nigeria’s industrial growth
The International Finance Corporation (IFC) has pledged a $50 million equity investment in the Lagos Free Zone (LFZ) to support…
CBN Unveils New Inflation Targeting Framework to Tackle Economic Challenges
The Central Bank of Nigeria (CBN) has initiated a new phase in combating inflation, implementing an inflation targeting framework designed…
Imported Inflation: Nigeria’s Struggle for Price Stability
Muhammad Abdullahi, a member of Nigeria’s Central Bank Monetary Policy Committee (MPC), highlighted the challenges posed by imported inflation on…
CBN postpones February MPC meeting as NBS delays rebased CPI report
The Central Bank of Nigeria (CBN) has delayed its first Monetary Policy Committee (MPC) meeting for 2025 until March due…
Naira Rebound: Investors favour 364-day bonds, Treasury Bills
As the Nigerian naira strengthens, there has been a surge in demand for long-term fixed-income instruments. Investors are increasingly favouring…
The Future of Borrowing; Fintech’s Challenge to Traditional Banks
In 2021, Joe Michael turned to his bank for a personal loan but was discouraged by the extensive documentation and…
FCCPC Floors MTN As Court Upholds Its Regulatory Authority In Telecommunications Sector
The Federal Competition and Consumer Protection Commission (FCCPC) achieved a significant legal win against MTN Nigeria, as a Federal High…
Fintech Surge: Nigerians Shift to Digital Payments as Banks Struggle with Outages
In 2024, fintech companies like Opay and PalmPay saw significant growth as they became the go-to alternatives for financial transactions,…
Nigeria’s data privacy breaches surge amid regulatory pressure
Nigeria is experiencing a significant rise in data privacy breaches despite increased regulatory oversight by the Nigeria Data Protection Commission…
Nigerian Manufacturers Face N666bn Cost Surge Amid Inflation and Economic Challenges”
In 2024, the cost of sales for 10 major manufacturing and consumer goods companies in Nigeria surged to N665.95bn, marking…
Equity market gains N884bn in one week
The Nigerian equity market experienced significant growth last week, with the All-Share Index climbing by 1.38% to close at 105,933.03…
Nigeria’s GDP Growth May Fall to 0.8% in 2025, Warns Rand Merchant Bank
Nigeria’s economic growth could significantly slow down in 2025, with projections suggesting a possible dip to 0.8% growth, a rate…
Excessive govt spending undermining monetary policy – MPC member
A member of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), Murtala Sagagi, has raised concerns over excessive…
UAC Nigeria Reports 109% Profit Growth in 2024, Driven by Strategic Market Initiatives
UAC Nigeria PLC, a diversified holding company, reported impressive financial results for the year 2024, showing a significant 109% increase…
Bulls persist at NGX as equities investors earn N332.2bn
The Nigerian stock market maintained a positive trajectory, as the All-Share Index (ASI) gained 0.51%, closing at 105,324.89 points. This…
FG plans new national shipping line
The Nigerian Ministry of Marine and Blue Economy has launched a strategic initiative to establish a national flag carrier through…
TTP Integrates CBN’s NXP System with Ètò Electronic Call-Up to Streamline Nigeria’s Export Process
Trucks Transit Parks Ltd (TTP) has announced the successful integration of the Central Bank of Nigeria’s (CBN) Nigeria Export Proceeds…