FG must bolster domestic industries to achieve $1trn economy –NESG
The Nigerian Economic Summit Group (NESG) has called on the Federal Government to prioritize the support of local industries to…
Category: Local
Edun Highlights Nigeria’s Economic Growth to Investors, Turkish Delegation
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, presented the country’s economic transformation over the…
Tinubu Proposes N54.6 Trillion Budget for 2025: Implications for Nigeria’s Economy and Growth
On February 6, 2025, President Bola Tinubu proposed a budget increase for Nigeria, raising the 2025 budget from N49.7 trillion…
Naira’s Parallel Market Approaches Official Exchange Rate Amid CBN Reforms
The Nigerian naira has been steadily appreciating in the parallel market, narrowing the gap with the official foreign exchange (FX)…
Equity market booms as NGX gains N332bn
The Nigerian Stock Exchange (NGX) experienced a significant rally on February 5, 2025, as the equity market gained NGN 332…
Six companies record N255bn FX loss
Six companies listed on the Nigerian Exchange Limited reported a combined foreign exchange (FX) loss of N255.72 billion for the…
FG seeks fresh $580m W’Bank loans
Nigeria is in discussions with the World Bank to secure two new loans totaling $580 million, with approval expected in…
CBN Sets $25,000 Weekly Limit on BDC Forex Purchases to Stabilize Naira
The Central Bank of Nigeria (CBN) has announced new forex restrictions, limiting Bureau de Change (BDC) operators to purchasing a…
NAICOM Releases New Regulation on Annuity Business Underwriting
The National Insurance Commission (NAICOM) has introduced new regulatory requirements for life insurance companies underwriting annuity policies. This move aims…
PTAD Pledges Implementation Of N32,000 Pension Increment
The Pension Transitional Arrangement Directorate (PTAD) has reaffirmed its commitment to implementing the N32,000 pension increment for retirees under the…
Nigeria’s Debt Financing Strategy Raises Concerns Over Sustainability and Economic Stability
Nigeria’s growing reliance on asset sales and multilateral loans to finance its public debt is sparking concerns about the sustainability…
Eurocham Nigeria Hosts 2025 Stakeholder Conference, Strengthens EU-Nigeria Economic Ties
Eurocham Nigeria recently hosted its 2025 Annual Stakeholder Conference in Lagos, bringing together European businesses, policymakers, and private-sector leaders to…
Nigerian Banks Earn N2.6 Trillion from Loans as Interest Rates Surge
Amid rising interest rates, five Nigerian banks FBN Holdings, FCMB Group, Wema Bank, Stanbic IBTC Holdings, and Sterling Financial Holdings…
Blockchain will aid market regulation — SEC
The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has emphasized the transformative potential of blockchain…
Stock Market Stays Upbeat, Gains N98bn
The Nigerian stock market maintained its bullish momentum, with overall market capitalization increasing by N98 billion. The All Share Index…
Top-performing Nigerian equity funds in January 2025
The Nigerian stock market started 2025 on a positive trajectory, with the All-Share Index (ASI) gaining 1.53% in January. This…
FG to raise broadband investments by 500% – Minister
The Federal Government of Nigeria is launching a new initiative, the National Broadband Alliance for Nigeria (NBAN), with the aim…
SEC DG Highlights Blockchain’s Role in Enhancing Capital Market Regulation
The Director General of Nigeria’s Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has emphasized the crucial role of blockchain…
Naira sustains gains, appreciates to N1,595/$
The Naira strengthened to N1,595 per dollar in the parallel market yesterday, showing a significant improvement from N1,610 per dollar…
Naira Holds Steady as CBN Extends Dollar Access to Bureau De Change Operators
The naira remained stable across Nigeria’s foreign exchange (FX) markets on Tuesday, as reduced dollar demand and improved liquidity followed…
FG to Issue N758bn Bonds to Clear Pension Debts, Boost Economy
The Federal Government of Nigeria has announced plans to issue bonds worth N758bn to clear outstanding pension debts under the…
NPA goes tough on use of NXP for export cargos
The Nigerian Ports Authority (NPA) has mandated the enforcement of the Nigeria Export Proceed (NXP) as a key requirement for…
NUPRC cracks down on IOCs, others over crude oil diversion
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a stern warning to International Oil Companies (IOCs) and independent producers…
FG Approves N4.2 Trillion for Major Infrastructure Projects, Unveils Plan to Boost Creative Economy
The Nigerian federal government has approved road infrastructure projects totaling N4.2 trillion, including key highways, bridges, and the second phase…
CBN extends $25,000 weekly forex sales to BDCs
The Central Bank of Nigeria (CBN) has announced an extension of the temporary arrangement that allows Bureau de Change (BDC)…
Oil firms must supply local refineries or lose export permits – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a directive compelling oil exploration and production companies to strictly adhere…
Insurers given six months to perfect annuity irregularities
The National Insurance Commission (NAICOM) has given life insurance operators six months to fully comply with new annuity guidelines introduced…
OPEC to monitor oil production compliance as Nigeria eyes 2.7mbpd
Nigeria has set an ambitious goal to increase its oil production to 2.7 million barrels per day (bpd) by 2027,…
Telecom tariff hike: NLC suspends planned nationwide protest
The Nigeria Labour Congress (NLC) has suspended its planned nationwide protest, which was set for February 4, 2025, in response…
Africa’s Climate Crisis: A Struggle It Didn’t Cause but Can’t Escape
Despite contributing just 4% of global carbon emissions, Africa faces the worst consequences of climate change. The continent is already…