CBN Injects $200 Million as Naira Rebounds in Official Market
The Central Bank of Nigeria injected $200 million into the forex market to stabilize the naira, leading to consecutive gains and improved market sentiment amid high dollar demand.
Category : Economy
UK Jobseekers Guide: Benefits and Financial Support in 2026
As UK unemployment is projected to peak at 5.3% in 2026, this guide outlines essential financial support available to jobseekers including Jobseeker's Allowance and Universal Credit.
Nigeria Monitoring Middle East Tensions to Protect Economy
The Federal Government is tracking escalating Middle East conflicts involving the US, Israel, and Iran to protect Nigeria's economic stability, citing risks to oil prices and capital flows.
Tinubu: Economy Improving, States Not Borrowing for Salaries
President Bola Tinubu asserts Nigeria's economy is recovering from early challenges, with state governors no longer needing bank loans to pay workers' salaries, citing reforms and improved financial stability.
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Nigeria's Non-Oil Exports Hit N12.36 Trillion in 2025
Nigeria's non-oil exports soared to N12.36 trillion in 2025, up from N9.09 trillion in 2024, driven by growth in agriculture, manufacturing, and solid minerals, according to the National Bureau of Statistics.
Tax Reform: Key to Nigeria's Economic Growth and Diversification
A Nigerian tax expert highlights how comprehensive tax reforms can reduce oil dependence, attract investment, and foster inclusive growth through fair and transparent systems.
Fuel Scarcity Affects All, Woman Urges Focus on Governance
A Nigerian woman calls for public attention on national issues like fuel scarcity, highlighting its broad impact on transport, food prices, and services, urging citizens to speak up on policies.
Iran War Shocks Global Economy, Threatens Food Security
The ongoing US-Israel conflict with Iran is causing severe economic disruption worldwide, driving up energy prices and threatening food shortages in vulnerable nations. The closure of the Strait of Hormuz exacerbates the crisis, with countries like India
Tinubu: Economy Improving, Governors Not Borrowing for Salaries
President Bola Tinubu asserts Nigeria's economy has turned a corner, with state governors no longer needing bank loans to pay salaries. He made the remarks at an interfaith breaking of fast event in Abuja.
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Naira Hits 5-Month Low as Dollar Strengthens
Nigeria's naira weakens to N1,405.62 per dollar at official market despite increased FX inflows and rising external reserves. Parallel market gap narrows to N15, signaling potential convergence.
Naira Hits 5-Month Low as CBN Releases New Exchange Rate
Nigeria's currency weakened to N1,405.62 per dollar at the official market despite increased foreign exchange inflows and rising external reserves. The parallel market gap narrowed significantly, signaling potential convergence.
Naira Depreciates Against Dollar, CBN Issues New Exchange Rates
The Nigerian naira has depreciated in the official market, hitting its lowest level in two months due to rising dollar demand from Middle East tensions. The Central Bank of Nigeria released new exchange rates as the currency weakened further.
Lagos Man Shares Train Commute Cost, Sparks Reactions
A Lagos resident has detailed his monthly expenses for using the state's train service, prompting widespread discussion online about transportation affordability and urban living costs.
Africa's Billionaires Add $20bn, Dangote Leads Forbes List
Forbes reports Africa's 23 billionaires increased combined wealth by $20bn to $126.7bn. Aliko Dangote retains top spot with $28.5bn fortune as Nigerian entrepreneurs show strong gains.
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Abuja Women Turn Private Cars to Taxis for Income
Women in Nigeria's capital are transforming personal vehicles into informal 'kabu-kabu' taxis to combat rising living costs and fuel prices, creating affordable transport alternatives.
Lagos Commuter Spends ₦70,000 Monthly on Transport
A young Lagos resident has detailed his daily commute, showing the multiple buses he takes and revealing his transportation costs amount to nearly ₦70,000 per month, highlighting the financial burden of urban travel.
Dangote Refinery Petrol Price Hits N1,175, Sparks Inflation Worries
Dangote Petroleum Refinery has increased Premium Motor Spirit price to N1,175 per litre, just days after a previous hike, with Automotive Gas Oil also rising to N1,620, likely driving nationwide fuel cost increases and higher living expenses.
Rufai: Fuel Price Rise Tied to Iran-US-Israel War
Nigerian journalist Oseni Rufai warns that the Iran-US-Israel conflict is driving up fuel prices in Nigeria, with limited economic benefits due to oil debts and commitments.
Transport Fares Soar as Petrol Prices Hit Over N1,000
Nigerians face severe transportation cost hikes as petrol prices surge above N1,000 per litre, with intra-state fares increasing by over 50% and inter-state trips becoming significantly more expensive.
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Inflation Erases Small Naira Notes in Nigeria's Economy
Nigeria's small naira notes, from ₦5 to ₦50, are disappearing from daily use due to inflation, leading to an unofficial redenomination as ₦100 becomes the minimum viable currency in markets and transport.
Lawyer Refuses to Buy Fuel at N1,250, Chooses Natural Ventilation
A Nigerian barrister refused to purchase petrol after discovering the price had surged to N1,250 per litre, opting instead for natural ventilation at home. This comes as Dangote Refinery and NNPC implement fresh price hikes across the country's fuel marke
Venezuela Inflation Hits 475%, Highest in World
Venezuela's inflation surged to 475% in 2025, the highest globally, driven by U.S. sanctions. Despite political changes, citizens face soaring prices with food costs up 532%.
Petrol Price Hits N1,080/Litre in Ibadan, Transport Fares Surge
Motorists in Ibadan face severe fuel scarcity with petrol prices reaching N1,080 per litre, causing long queues and significant increases in transportation fares across the city.
PEBEC Roundtable Aims to Attract Foreign Investment in Nigeria
The Presidential Enabling Business Environment Council organized a high-level meeting with foreign investors to address concerns on security, taxes, and regulations while promoting Nigeria's economic reforms.
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Naira Drops N25 in Black Market, CBN Steps In Amid Dollar Rush
Nigeria's naira weakened by N25 in the parallel market, trading between N1,410 and N1,420 per dollar, widening the gap with official rates. The Central Bank intervened to stabilize the currency amid rising demand.
Fuel Prices Surge in Nigeria After Dangote Refinery Hike
Petrol prices have sharply increased in Nigerian cities like Awka and Uyo, reaching up to N1,000 per litre, following a N110 hike by Dangote Refinery and NNPC adjustments.
States Get VAT Windfall as New Tax Law Begins in Nigeria
Nigeria's new VAT sharing formula boosts state revenues to 55%, with Lagos leading beneficiaries at N101.34 billion. Federal share declines as total collections rise to N1.08 trillion in January 2026.
YEIDEP Batch B Recruitment: N500,000 Funding for Nigerian Youths
The Federal Government has set March 9, 2026, for the start of Batch B recruitment for the Youth Economic Intervention and De-Radicalisation Programme, offering up to N500,000 in business funding to eligible Nigerians aged 18 to 50.
Fuel and Cooking Gas Price Surge Threatens Eid Celebrations
As petrol and cooking gas prices soar across Nigeria due to global energy pressures, households face rising costs that could disrupt Eid festivities and strain festive planning.
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Naira Falls for 11th Session, Rate Gap Narrows to N13
The Nigerian naira depreciated for the 11th consecutive trading session against the US dollar, with the gap between official and parallel market rates closing to N13. The currency weakened across multiple forex windows amid geopolitical tensions affecting
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