The Joint Revenue Board reassures Nigerians that obtaining a Tax ID will not lead to automatic bank deductions, as the new portal receives positive feedback despite initial panic over tax reforms.
Cement prices have skyrocketed above N10,000 per bag in Nigeria, with major brands like Dangote and BUA increasing costs due to production and logistics. Dealers report new rates up to N11,500, impacting construction and housing projects nationwide.
Lagos State's Bus Rapid Transport fare increase has led to rising transportation costs and commuter frustration over declining service quality and safety concerns across major routes.
The U.S. dollar retreated to its lowest level in a week as geopolitical risks and renewed trade tensions weighed on investor sentiment. Currency markets brace for volatility amid Supreme Court rulings and diplomatic talks.
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A new FAO report projects Nigeria will have Africa's highest food inflation at 17.1% in 2026, with Angola, Zambia, and Ethiopia among nine other African nations facing significant increases, while some countries may see price declines.
Fresh data reveals Nigeria's naira is not among Africa's 10 weakest currencies despite recent volatility. The ranking highlights economic challenges facing other African nations.
The Nigerian naira has declined slightly after weeks of gains, with the Central Bank purchasing dollars to stabilize the currency and prevent rapid appreciation, impacting market strategies.
Morocco leads Africa with a $374 monthly minimum wage in 2026, followed by Mauritius and Algeria, as inflation continues to erode purchasing power despite wage increases across the continent.
The Nigerian naira extended its losing streak, falling against the US dollar, British pound, and euro in both official and parallel foreign exchange markets. The Central Bank of Nigeria's recent dollar purchases and interest rate cut contributed to the cu
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Aliko Dangote and Abdul Samad Rabiu outperform other African billionaires with significant net worth increases, according to the Bloomberg Billionaires Index for 2026.
The Lagos Chamber of Commerce and Industry has welcomed the Central Bank of Nigeria's decision to cut the Monetary Policy Rate by 50 basis points to 26.50%. While praising the move as positive for investor confidence, the chamber cautioned that structural
The Central Bank of Nigeria withdraws $190 million to curb the naira's rapid appreciation, causing the currency to weaken as external reserves surpass $50 billion.
President Bola Tinubu forecasts the naira could appreciate to N1,000 against the US dollar in weeks, citing CBN interventions and economic reforms at the Renewed Hope Ambassadors Summit.
The Central Bank of Nigeria has reduced its benchmark interest rate to 26.5%, marking a second cut in five months as inflation shows signs of easing, with January 2026 data at 15.10%.
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Vice-President Kashim Shettima reveals that without CBN intervention, the naira could have reached N1,000 per dollar. He highlights Nigeria's economic progress and investment appeal.
Bureau De Change operators have pushed the US dollar exchange rate above N1,400 in Nigeria's parallel market following CBN's decision to absorb dollars. The naira also weakened in official trading.
The naira weakened further against major currencies, with the official rate falling to N1,349.24 per dollar as the Central Bank of Nigeria intervened to moderate gains.
The Lagos State Government has approved a 13% fare increase for all Bus Reform Initiative schemes, including BRT and standard routes, effective March 2, 2026, citing economic pressures.
The Nigerian naira depreciated in the parallel market on Monday, with the US dollar selling at N1,375. Traders cite renewed demand and ongoing difficulties for BDC operators in accessing dollars from commercial banks.
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Nigeria's non-oil exports reached a historic $6.1 billion in 2025, growing 11.5% year-on-year. Zenith Bank emerged as the leading export-friendly bank, processing 32.31% of all export documentation.
Nigeria's naira reaches a three-year high, driven by dollar hoarders selling off holdings and external reserves climbing to $48.5 billion. Central Bank reforms and strong economic fundamentals boost confidence, narrowing the gap between official and paral
The National Bureau of Statistics reveals Nigeria's capital importation hit $17.78 billion in 2025, with Standard Chartered, Stanbic IBTC, and Citibank topping the list of banks receiving the highest inflows.
A viral video claims Nigeria will replace the naira with the Eco currency in 2027, but officials confirm the Eco's development depends on strict economic criteria, with no announcement to abolish the naira.
Nigeria's naira appreciates sharply, causing dollar hoarders to offload currency at losses. External reserves climb to $48.5 billion, boosting market confidence and narrowing the gap between official and parallel exchange rates.
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The Canadian dollar has crashed below N1,000 against the naira, offering hope for cheaper visa fees and proof-of-funds requirements for Nigerians relocating to Canada. The naira's strong performance is backed by rising foreign reserves and improved market
Abuja Investments Company Limited is undergoing institutional renewal under Minister Nyesom Wike, shifting from passive asset management to active investment stewardship with major global expos.
Former US President Donald Trump announces a temporary 10% global tariff under Section 122 of the Trade Act, lasting 150 days, following the Supreme Court's invalidation of previous emergency duties.
The US Supreme Court has ruled 6-3 that President Trump's global tariffs were unlawful, marking a rare setback for his administration. The decision affects billions in tariffs but leaves some measures intact.
Nigeria's total public debt increased to N153.29 trillion as of September 30, 2025, according to the Debt Management Office, with domestic debt at N81.81 trillion and external debt at N71.47 trillion.
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Brent crude exceeds Nigeria's 2026 budget benchmark, while the naira appreciates below N1,400/$1 and external reserves hit an eight-year high, signaling economic recovery.
