Category : Economy


Garri, Beans, Rice Prices Drop Across Nigeria

The National Bureau of Statistics reveals significant price declines for staple foods including garri, beans, and rice across Nigerian markets in January 2026 compared to the previous year.

Naira Records Worst Single-Day Drop, Reserves Decline

The Nigerian naira experienced its sharpest single-day depreciation in months, closing at N1,388.38 against the dollar. External reserves fell for the sixth consecutive session amid geopolitical tensions affecting global financial flows.

Lagos Leads FAAC Allocations with N55.83bn in January 2026

Lagos State received the highest share of Federation revenue in January 2026, getting N55.83 billion. Delta and Akwa Ibom followed, while Ekiti recorded negative allocation. Total disbursement reached N2.59 trillion across government tiers.

Naira Falls 0.91% as Investors Reassess Assets

The Nigerian naira weakened by 0.91% at the official forex window last week, closing at N1,366.23 per dollar, while parallel market rates dropped 2.21% to N1,386 per dollar, reflecting unmet demand and liquidity issues.

Expert Urges Tinubu to Act on Middle East War Economic Risks

Development expert Engr. Micheal Ale calls on President Tinubu and the National Assembly to form a technocrat committee to mitigate potential economic fallout from the U.S.-Israel vs Iran conflict, which has closed the Strait of Hormuz and spiked global o

Akwa Ibom IGR Hits N7bn Monthly Post-TSA

Governor Umo Eno announces a dramatic increase in Akwa Ibom's internally generated revenue from N2bn to N7bn monthly, attributing it to the Treasury Single Account policy.

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