NBS Data Shows Cheapest and Costliest Rice, Beans Markets in Nigeria
The NBS reports significant regional price differences for rice and beans in Nigeria, with South South and South West being most expensive and North East cheapest.
Category : Economy
Naira Crashes by N5.54 Against Dollar: New Rate N1,361/$1
The naira depreciated by N5.54 against the US dollar in the official market, closing at N1,361.39/$1. It also weakened against the pound and euro. Parallel market rates remained steady.
UK High-Demand Jobs Without Degree 2026: List for Nigerians
Discover high-paying UK jobs in 2026 that don't require a degree. Construction, care, welding, and logistics offer stable careers for Nigerians.
ITC Workers Protest in Owerri Over High Electricity Bills
Workers of Imo Transport Company protested in Owerri against excessive estimated electricity bills from Transpower Electricity Distribution Company, demanding fair billing and regulatory intervention.
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Nigeria's Economy Shows Gradual Stabilisation in 2025
Nigeria's macroeconomic conditions improved in 2025 after severe 2024 pressures, with the MCI rising from -3.0 to -2.0 points, driven by external sector gains, though fiscal and real sectors remain weak.
AfDB, IFC, AU, ECOWAS Back 2026 African CEO Forum
The African Union, ECOWAS, AfDB, and IFC support the 2026 African CEO Leadership Forum in Lagos, themed 'Leading Africa Forward: Bold Vision, Lasting Impact'.
Afri Invoice Secures NRS Accreditation for e-Invoicing
Afri Invoice Nigeria Ltd has secured NRS accreditation as a system integrator for mandatory e-Invoicing, enhancing tax compliance and digital reporting for businesses across Nigeria.
Elon Musk Nears Trillionaire Status as Dangote, Rabiu Lead Africa
Elon Musk is on track to become the world's first trillionaire, while Aliko Dangote and Abdulsamad Rabiu continue to dominate Africa's wealth rankings, highlighting contrasting wealth models.
Visa Insights Show 20% Rise in Seasonal Spending in Nigeria
Visa reports a 20% year-on-year increase in premium card spending during Ramadan and Eid in Nigeria, driven by travel and retail.
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Naira to Gain, Cedi to Weaken: West Africa Currency Outlook
Economists predict Nigeria's naira will strengthen against the USD in May 2026, while Ghana's cedi faces pressure from corporate demand and tight FX supply.
Nigeria's Inflation Crisis Deepens as Food Prices Soar
Nigeria faces a deepening inflation crisis with soaring food prices, impacting millions. Experts call for urgent government intervention.
LASERC reforms target 11,000MW Lagos power deficit
LASERC unveils reforms to address 11,000MW power deficit in Lagos, targeting cost-reflective tariffs, full smart metering, and licensing 14 new operators to boost electricity supply.
50kg Local Rice Hits ₦112,000, Foreign Rice Now ₦133,975
The price of a 50kg bag of local rice in Nigeria has risen to ₦112,000, while foreign rice costs ₦133,975, deepening the food crisis and raising concerns over affordability.
Nigeria Business Confidence Edges Up in April
Nigeria's business confidence rose marginally in April to 102.1 points, but growth remains weak. Agriculture and non-manufacturing drove expansion, while manufacturing contracted.
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Fuel Subsidy Will Not Return, Oyedele Insists
Finance Minister Taiwo Oyedele confirms the Presidency will not reinstate fuel subsidy, citing economic distortions and market self-regulation.
Reps Spokesperson Backs Oyedele on Capital Projects
Philip Agbese expresses confidence in Finance Minister Taiwo Oyedele to improve fiscal management and address capital project delays in Nigeria.
Shettima: Tinubu Reforms Rebuilding State Economies
Vice President Shettima says Tinubu's economic reforms empower states as growth centres through fiscal reforms, energy liberalization, and tax changes, boosting investor confidence.
Maritime Trade Boom Not Reflected in GDP, Oyeyemi
Dr. Boboye Oyeyemi says Nigeria's maritime trade boom is not reflected in GDP due to informal transactions, calling for policy reforms to formalize trade and boost economic growth.
Dangote Refinery Denies PMS Price Hike, Says Price Stable
Dangote Refinery refutes claims of increasing PMS ex-depot price to ₦1,350, confirming it remains at ₦1,275 per litre to support market stability.
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Petrol Depot Prices Hit N1,350 After Dangote Hike
Dangote Refinery raises petrol price to N1,350 per litre, prompting marketers to adjust depot prices amid global crude oil decline and market volatility.
Naira Falls to N1,366.56 as Dollar Demand Surges
The naira depreciated to N1,366.56 per dollar amid rising foreign payment demands and reduced CBN interventions, as banks like Access, UBA, and Zenith quoted higher exchange rates.
Nigeria Passport Rises to 89th, Visa-Free Access Drops
Nigeria's passport climbs six places to 89th on Henley Index, but visa-free destinations drop from 46 to 44, reflecting mixed travel mobility for citizens.
MMA2 Settlement Shows Need for Stronger PPP Reforms
The MMA2 settlement ends a 20-year dispute but reveals weaknesses in Nigeria's PPP framework. Reforms needed for contract discipline, dispute prevention, and institutional enforcement.
Cartoon: Nigeria's Economic Challenges and Government Response
A cartoon highlights Nigeria's economic struggles, including inflation and unemployment, and critiques the government's response. It calls for effective policies.
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Revenue Gap Widens as DisCos Fail to Collect N45.61bn
Nigeria's electricity distribution companies recorded a N45.61 billion revenue shortfall in February 2026, with collection efficiency at 81.17 percent, highlighting persistent sector inefficiencies.
FG Rules Out Return of Fuel Subsidy, Cites Economic Harm
Nigeria's Finance Minister Taiwo Oyedele reaffirms the government's decision not to reinstate fuel subsidy, citing economic damage and market principles.
Nigerian Graduate: Fewer Than 10 of 50 Classmates Married Since 2015
A Nigerian man who graduated in 2015 reveals that out of 50 male classmates, fewer than 10 have married, blaming economic hardship and high living costs.
First Russian oil arrives in Japan since Iran war
Japan receives its first Russian oil shipment since the Strait of Hormuz closure disrupted global supplies amid the Iran war. The crude from Sakhalin-2 will be refined into gasoline and naphtha.
Naira Breaks 3-Year April Curse, Gains Against Dollar
The naira strengthened in April 2026, closing at N1,374/$ for the first gain in three years, driven by CBN policies and higher foreign inflows.
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ITUC Africa demands end to inequality, pushes industrialisation
ITUC-Africa calls for end to inequality, industrialisation, and anti-corruption measures in Africa, warning against austerity and conflict exploitation.
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