Naira Holds Firm Against US Dollar as CBN Retains Interest Rate
Nigeria's naira closes at N1,373.34 per dollar, CBN retains benchmark rate at 26.5%, external reserves rise to $49.49 billion, boosting investor confidence.
Category : Economy
Nigerian Man Goes From Losing Savings to Making Millions in Canada
A Nigerian man who lost his life savings in Canada shares his journey from hardship to building a business that generated over $1 million in revenue.
Nigeria Launches Net-Zero Investment Plan for 2060
Nigeria launches Net-Zero Investment Plan to achieve net-zero emissions by 2060, focusing on sustainable growth and private sector engagement.
CBN Retains Rate at 26.5% as Inflation Seen Temporary
The Central Bank of Nigeria kept the Monetary Policy Rate at 26.5%, citing temporary external shocks. Governor Yemi Cardoso highlighted rising reserves and forex stability.
Unknown Pasts of New NMDPRA Boss Rabiu Umar
An in-depth look at Rabiu Umar's career, from Unipetrol to Dangote, and his new role as NMDPRA CEO under President Tinubu's Renewed Hope Agenda.
Nigeria's Digital Exclusion: A National Emergency
Nigeria faces a digital exclusion crisis despite existing infrastructure. Systemic failures, cultural resistance, and lack of accountability perpetuate disconnection from opportunities.
Faloye: Enforce Chapter II to Fight Poverty in Nigeria
Prince Justice Faloye calls for a national war on poverty by enforcing Chapter II of Nigeria's 1999 Constitution, criticizing past governments for neglecting its socio-economic directives.
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Food inflation above 20% in 11 states ahead of Eid-el-Kabir
Food inflation has crossed 20% in 11 Nigerian states, with Enugu leading at 32.7%, worsening the cost of living crisis ahead of Eid-el-Kabir.
Nigeria Unveils NetZero Plan for Climate Finance, Growth
Nigeria's Net Zero Investment Plan aims to drive climate finance and sustainable growth, aligning with Agenda 2050 and global climate goals.
Lagos Targets $2.5bn Investment at Invest Summit 3.0
Lagos State aims to attract $2.5 billion in investments and over 600 delegates at the Invest Lagos 3.0 Summit, positioning the state as Africa's business gateway.
CBN Holds Interest Rate at 26.5% as Inflation Rises
The Central Bank of Nigeria keeps benchmark interest rate unchanged at 26.5% despite inflation climbing to 15.69% in April 2026.
Nigeria Unveils Unified Tax ID for All Taxpayers
Nigeria Revenue Service and Joint Revenue Board launch a new Tax ID system to simplify tax compliance, enhance transparency, and unify taxpayer records across federal and state levels.
Nigeria FX Inflows Surge to $112 Billion in 12 Months
Nigeria's foreign exchange market gets a major boost as dollar inflows hit $112 billion in 12 months, driven by autonomous sources and CBN reforms, improving investor confidence.
IMF: Middle East War May Cause Food Insecurity for 20M Africans
The IMF warns that a 20% rise in food prices from the Middle East war could push over 20 million sub-Saharan Africans into food insecurity and leave 2 million children malnourished.
Africa's Gas Commercial Model Hurts Economies
Africa's gas commercial model prioritizes exports over domestic supply, leaving millions without power and stifling industrialization. Experts call for pricing reforms and infrastructure investment.
Poor Market Risk Analysis Major Cause of Loan Defaults
Accion Microfinance Bank identifies poor market risk analysis as the main cause of loan defaults among MSMEs, citing economic instability and rising costs.
Markets, Welfare, and the Limits of Reform
Nigeria's economic reforms since 2023 have stabilized macroeconomy but neglected equity. Prof. Adenikinju argues for social protection, industrial policy, and legislative scrutiny.
Nigeria's Fiscal Reforms: Response to Critics on Deficits and Debt
Tanimu Yakubu defends Nigeria's fiscal policies, arguing deficits are necessary for structural reform and criticizing selective outrage from critics.
AfCFTA, ITC Renew Partnership for Intra-African Trade
AfCFTA Secretariat and ITC renewed MoU at Biashara Afrika 2026 to accelerate intra-African trade, focusing on SMEs, women, and youth-led enterprises.
Nigeria Tax System Needs Global Alignment, Expert Says
Tax expert Olayinka Oyebola urges Nigeria to align its tax system with global standards to boost compliance, efficiency, and economic competitiveness at CITN conference.
Naira Weakens to N1,373.70/$ as Dollar Inflow Declines
The naira depreciated to N1,373.70/$ amid persistent FX demand. FX turnover rose to $76.3 million but remained insufficient. Oil production increased to 1.49 million bpd.
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How salary earners, business owners can get tax ID in Nigeria
Learn how salary earners and business owners in Nigeria can obtain their Tax Identification Number (TIN) online or physically, using NIN or BVN, as part of the new mandatory tax ID system.
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Nigeria Could Be 5th Richest Economy by 2076: ECOWAS
ECOWAS predicts Nigeria could become the world's fifth-largest economy by 2076, driven by regional trade and integration, not Western markets.
Lagos State Plans to End Electricity Band Classification
Lagos State Government moves to scrap Band A-E electricity classification, aiming for uninterrupted 24-hour power supply for all residents under new reforms.
EU, AFD Boost Lake Chad Basin Recovery Through RESILAC 2
The EU and AFD are strengthening resilience and economic recovery in the Lake Chad Basin via the RESILAC 2 project, targeting 125,800 beneficiaries across Cameroon, Nigeria, and Chad.
US, China Lead Top 10 Strongest Economies in 2026 as AI Reshapes Wealth
Global economic forecasts for 2026 show the US leading with $32.1 trillion GDP, followed by China. AI and technology are reshaping global wealth, with India emerging as a fast-growing economy.
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Nigeria Makes Tax ID Mandatory for All Citizens
The Federal Government has introduced a mandatory Tax Identification Number for all Nigerians to access essential services, aiming to broaden the tax base and streamline revenue collection.
Cartoon: Nigeria's Economic Struggles and Citizens' Burden
A cartoon highlights Nigeria's economic challenges, showing citizens burdened by rising costs and government policies, reflecting public sentiment.
Deficits, Debt, Economic Literacy: Response to Fiscal Critics
Nigeria's Budget Office DG defends fiscal policies, arguing deficits and debt are necessary for economic stability and growth amid structural reforms.
CBN Reforms Boost Nigeria's S&P Rating to B
Nigeria's S&P credit rating upgrade to B reflects CBN's FX reforms, backlog clearance, and reserve growth, enhancing macroeconomic credibility.
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