Nigeria 36th as Djibouti Tops Africa 2026 Salary Rankings
Djibouti leads Africa with $2,836 average monthly net salary in 2026; Nigeria ranks 36th at $140, per LiveGDP data.
Category : Economy
CBN: Diaspora Remittances Hit $950m in July, Near $1bn Target
Nigerians abroad sent $950 million in remittances in July 2026, CBN says. The bank targets $1 billion monthly as FX reforms narrow the official-parallel gap.
Naira exchange rate: Dollar, euro, pound at N1,329, N1,510, N1,766
The naira trades at N1,329.16/$, N1,510.06/€, and N1,766.59/£ in the official market as of October 2, 2026, with the euro falling below N1,500 for the first time since April 2024.
CBN Survey: Businesses Expect Naira Gains, Confidence Up
CBN September survey shows businesses expect naira gains, with official rate at N1,327.08 and parallel market at N1,370-N1,390. Business Confidence Index hit 13.4 points.
FG Targets 2 Million Nigerians for Consumer Credit in 2027
The Federal Government plans to provide consumer credit to over 2 million Nigerians in 2027, with CREDICORP already facilitating N53.5 billion for 351,000 beneficiaries.
10 Cheaper Food Items in Nigeria as Prices Fall in September
Prices of 36 food items fell in Lagos markets in September 2026. Sweet potatoes, plantain, maize, pepper, garri, beans, and rice became cheaper, offering relief to households.
Atiku Faults Tinubu on Fuel Prices, Cites Germany Tax Cut
Atiku Abubakar criticises Tinubu's fuel policies as Germany cuts fuel taxes by €0.17 per litre, proposing local refining support to ease Nigerian hardship.
Ecobank Cuts Savings Rates After CBN MPR Adjustment
Ecobank Nigeria reduced interest rates on four naira savings products effective September 24, 2026, following the CBN's MPR reset to 23%. All Savings Account dropped from 7.95% to 6.90% per annum.
Tinubu Borrows $11.36bn as Nigeria’s Debt Hits N166.79trn
Nigeria’s external debt rose from $43.16bn in June 2023 to $54.52bn by June 2026, a 26% increase, as Tinubu’s government borrowed $11.36bn, DMO data shows.
Iran's Rial Hits Record Low of 2.5 Million Per Dollar
Iran's rial plunged to a record low of over 2.5 million per dollar, deepening economic strain amid war and sanctions, just 27 days after its previous low.
2027 Election: Nigeria Must Attract, Not Scare Investors
Nigeria cannot afford to scare away capital ahead of the 2027 election. Political stability and investor confidence are critical to funding infrastructure and creating jobs, analysts warn.
CBN Cuts Interest Rate to 23%: What It Means for Nigerian Loan Seekers
CBN slashes MPR by 350 basis points to 23%, lowest since Feb 2024. But banks still lend at 27-30%, leaving manufacturers and SMEs waiting for relief.
Banking Liquidity Jumps 17.16% to N5.53tn in May 2026
Nigeria's banking system liquidity surged 17.16% to N5.53 trillion in May 2026, driven by government payments and maturing securities, as CBN mopped up excess cash via OMO.
Naira Avoids Africa's 10 Weakest Currencies in September 2026
Nigeria's naira stayed off Africa's 10 weakest currencies list in September 2026, as São Tomé and Príncipe, Sierra Leone, Guinea and Madagascar led the ranking by units per dollar.
Rice Prices Drop ₦15,000 Per 50kg Bag Across Nigeria
Imported long-grain rice fell ₦15,000 per 50kg bag between January and September 2026, according to a market survey, with national average milled rice prices down 31.8% year-on-year.
FG Seeks $1.5bn World Bank Loans as Debt per Person Hits N716,822
Nigeria’s federal government is seeking $1.5 billion in World Bank loans for climate, social protection, and early childhood development, as debt per citizen reaches N716,822.
Ukraine considers legalising pornography to raise $25m for war
Ukraine's parliament is considering a bill to legalise and tax pornography, potentially generating $25m annually for defence efforts against Russia.
Nigeria's N166.79trn Debt: N717,000 Burden Per Citizen
Nigeria's public debt hit N166.79 trillion in June 2026, raising the per-citizen burden to about N717,000. The quarterly rise of N7.44 trillion sparks concerns over borrowing's impact on living standards.
State Domestic Debt Hits N4.59 Trillion, Lagos Leads
Nigeria's 36 states and FCT owed N4.59 trillion domestic debt as of June 30, 2026; Lagos topped with N1.20 trillion, Jigawa lowest at N1.04 billion.
Naira Gains Modestly as CBN Cuts Rate to 23%, Turnover Hits $2.25bn
The naira closed Friday at ₦1,329.51/$ after CBN slashed rates to 23%, with forex turnover up 8.9% to $2.25bn, showing resilience amid policy shifts.
Nigeria's public debt hits N166.79tn, up N7.44tn in Q2 2026
Nigeria's public debt rose to N166.79 trillion by June 2026, up N7.44 trillion in three months, with domestic debt at 54.91% of the total, DMO data shows.
Noodles, Cereals, Milk Get Cheaper as Nigeria's Food Inflation Slows
Nigeria's food inflation eased to 19.57% in August as 79% of tracked FMCG food products saw no price change, with cereals and milk getting cheaper.
Naira Hits N1,762 Per Pound as CBN Cuts Rate to 23%
The naira strengthened to about N1,762 per British pound in the official market, despite the CBN's 350 basis points interest rate cut to 23%, supported by rising reserves above $55 billion and improved dollar liquidity.
N70,000 Wage Buys Just 50 Litres as Petrol Hits N1,400
At N1,400 per litre, Nigeria's N70,000 minimum wage buys just 50 litres of petrol. Keyamo, NLC demand wage reviews as living costs soar.
FG Cuts Late Tax Interest Rate Effective October 1, 2026
From October 1, 2026, Nigeria cuts late tax interest to CBN MPR plus 1%, down from MPR plus 5%, with a floor at the 364-day Treasury Bill yield.
Rewane: Naira to Depreciate After CBN 23% Rate Cut, But Less Than Feared
Economist Bismarck Rewane says the naira will depreciate after CBN's 23% rate cut, but not as much as feared due to fair value and positive real interest rate.
CBN Rate Cut to 23%: Impact on FG, Businesses, Nigerians
CBN slashes MPR to 23%, easing FG debt burden and business loans. CPPE warns of FX risks and slow transmission.
Egypt Leads Africa's IMF Debtors with $10.76bn in Sept 2026
Egypt remains Africa's largest IMF debtor with SDR 7.86bn ($10.76bn) outstanding as of Sept 15, 2026. The top 10 African countries collectively owe $39.17bn, according to latest IMF data.
US Lists 8 Conditions for Bachelor's Degree Green Card
USCIS has published eight conditions foreign professionals with bachelor's degrees must meet to obtain a Green Card through EB-3, including filing Form I-485 and having an immigrant visa immediately available.
Lagos, Ogun Attract 87% of Nigeria's N1.74tn Industrial Investments
Lagos and Ogun states captured N1.74 trillion (87.32%) of Nigeria's industrial investments between 2024 and 2025, according to Manufacturers Association of Nigeria (MAN) data.
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