Naira Falls to N1,376/$ as Dollar Surges Amid Middle East Tensions
Nigeria’s naira slipped to N1,376 per dollar on Monday, extending its recent volatility as the U.S. dollar strengthened globally. The…
Category: Local
NGX Surges N1.7tn as Banking, Oil & Gas Stocks Lead Market Rally
Trading on the Nigerian Exchange (NGX) ended Monday on a positive note, with the All-Share Index climbing to 195,514.23 points…
NCC Proposes 14-Day Notice Before SIM Deactivation to Protect Nigerian Subscribers
The Nigerian Communications Commission (NCC) has proposed that telecom operators provide subscribers with at least 14 days’ notice before deactivating…
Petrol Prices Could Hit ₦1,000/Litre as Dangote Refines Strategy Amid Global Oil Volatility
The price of Premium Motor Spirit (PMS), commonly known as petrol, may soon reach between ₦980 and over ₦1,000 per…
Banks Disburse N36.4tn to Trade Sector as Rate Cut Sparks Fresh Credit Expectations
Nigerian deposit money banks disbursed N36.39 trillion to the Trade and General Commerce sector between January and September 2025, marking…
Nigeria’s Net FX Reserves Soar 772% to $34.8 Billion, Signaling Stronger Economic Stability
Nigeria’s net foreign exchange reserves soared to $34.80 billion at the end of 2025, marking a remarkable 772 per cent…
CBN Cuts Interest Rate to 26.5% as Disinflation and FX Stability Strengthen Outlook
The Central Bank of Nigeria has reduced its Monetary Policy Rate (MPR) by 50 basis points to 26.5 per cent,…
Nigeria Secures $1.3 Billion Alumina Refinery Deal with AFC to Boost Mining Sector
In a major stride for the country’s mining industry, the Federal Government of Nigeria has signed a $1.3 billion investment…
Investors Gain N17.5 Trillion in February as Nigerian Stock Market Surges
Investors in Nigeria’s stock market enjoyed a substantial boost in February 2026, with gains totaling N17.5 trillion as equities hit…
Nigeria Spends N6.32 Trillion on Domestic Debt in 9 Months Amid Rising Interest Costs
The Nigerian federal government spent a staggering N6.32 trillion on domestic debt servicing between January and September 2025, surpassing the…
Naira Depreciates to N1,368/$ Following CBN’s 304th MPC Meeting
The naira faced a steady decline throughout the week, closing at N1,368/$ in the official market, following the Central Bank…
Rising Public Debt Clouds CBN Rate Cut Despite Economic Gains
Economic experts say Nigeria’s recent macroeconomic improvements are being tempered by a rising public debt profile, even as the Central…
Crude-Backed Loans Tie Up N8.36tn of Nigeria’s 2025 Oil Revenue
Nigeria’s crude oil production in 2025 saw nearly 15% of output effectively pre-committed to servicing crude-backed loan facilities, amounting to…
N5tn Bank Recapitalisation Set to Transform Nigeria’s Financial Sector
Nigeria’s banking sector is poised for a major transformation as the Central Bank of Nigeria (CBN) nears completion of a…
Nigerian Stock Market Surges with N17.6 Trillion Gain in February 2026
The Nigerian stock market recorded historic growth in February 2026, with investors collectively gaining N17.6 trillion, marking the largest monthly…
OPEC+ Raises Oil Production Amid Middle East Tensions, Markets Watch Strait of Hormuz
Key members of OPEC+ have announced a higher-than-expected increase in oil production quotas, raising the stakes amid growing Middle East…
Nigeria’s Agriculture Sector Hits N101.46tn Turnover as Investment Boosts Growth
Nigeria’s agriculture sector achieved a remarkable N101.46tn turnover in 2025, up from N96.46tn in 2024, signaling a strong rebound driven…
House of Representatives to Hold Public Hearing on Nigeria Fintech Regulatory Commission Bill
The Nigerian House of Representatives has announced a public hearing on a bill seeking to establish a fintech regulatory commission,…
Nigeria Must Develop Homegrown AI or Face Stunted Growth, Experts Warn
Nigeria is being urged to go beyond regulating artificial intelligence and actively invest in homegrown AI development to safeguard its…
Dangote Port Sparks Nigeria’s Revival as a Global Fuel Exporter
Nigeria’s long-standing paradox of being Africa’s largest crude producer yet a major fuel importer is quietly shifting off the coast…
NGX Surges 16.60% in February as Oil & Gas Stocks Lead Broad Market Rally Toward 200,000 Mark
The Nigerian stock market delivered a strong performance in February 2026, with the All-Share Index climbing 16.60% to close at…
Foreign Transactions on Nigerian Exchange Plunge 75% as Block Trades Disappear
Foreign investor activity on the Nigerian Exchange Limited fell sharply in January 2026, with total foreign transactions dropping by a…
NGX Loses N1.40tn as Bearish Sentiment Dominates Market
Nigeria’s equities market ended February on a weak note as bearish sentiment swept across the trading floor of the Nigerian…
Why the Naira Is Gaining Strength: Understanding the Link Between Bitcoin and Nigeria’s Currency Recovery
The Nigerian Naira is showing signs of recovery after years of volatility, with the currency trading around N1,340 per US…
M-PESA Ethiopia Launches Africa’s First Mobile Money AI Bundle
M-PESA Ethiopia has broken new ground by teaming up with Gebeya Inc. to launch the Dala AI Bundle, making it…
Dangote Refinery to Supply 65 Million Litres of Petrol Daily, Boosting Nigeria’s Fuel Self-Sufficiency
The Dangote Petroleum Refinery has entered a landmark offtake agreement with 12 major and independent oil marketers to distribute between…
TotalEnergies Launches 5MW Solar Plant at OML 58 to Boost Nigeria’s Clean Energy Drive
TotalEnergies Marketing Nigeria Plc has revealed plans to inaugurate a five-megawatt (5MW) solar power plant at OML 58, aimed at…
States Back Executive Order 9, Say Nigeria Could Gain N1.5 Trillion Annually
The Forum of State Commissioners of Finance has expressed strong support for President Bola Tinubu’s Executive Order 9, emphasizing that…
Dangote Refinery Launches Surfacent Plant to Revolutionize Africa’s Industrial Future
Dangote Petroleum Refinery is taking a bold step to transform Africa’s industrial landscape by moving beyond crude processing into a…
Tinubu Extends Raw Shea Nuts Export Ban to 2027 to Boost Nigeria’s Processing Industry
President Bola Tinubu has approved a one-year extension of the ban on the export of raw shea nuts, effective from…