Naira Rebounds as CBN Releases Latest Exchange Rates
The Nigerian naira showed mixed performance in FX markets, gaining against the dollar and pound but weakening against the euro, with CBN reforms contributing to stability.
Category : Economy
Customs Auctions Seized Petrol Worth N14.8m in Lagos
The Nigeria Customs Service has auctioned 14,875 litres of seized petrol worth N14.875 million in Lagos after intercepting the products from smugglers. The operation was conducted under Operation Whirlwind.
Nigeria's Economic Growth Slows in March, CBN Survey Shows
Nigeria's economy expanded for the 16th consecutive month in March 2026, but at a slower pace, with the CBN's PMI at 53.2 points. Key sectors like industry and agriculture grew, though cost pressures rose, impacting profit margins.
Energy Disruption Threatens Global GDP, Sparks Inflation Fears
Prolonged disruptions to key oil shipping routes like the Strait of Hormuz could slash global GDP growth by 0.5% in 2026, triggering inflation and tighter monetary policies, with Nigeria's economy facing mixed impacts from higher oil prices and import cos
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Tinubu's Strategy to Shield Nigeria from Fuel Price Turbulence
As global oil prices surge due to Middle East tensions, Nigeria faces critical economic risks. Experts propose a dual-track pricing framework using domestic refineries like Dangote to stabilize fuel costs and insulate the economy from international market
Expert Urges South-West Governors on Youth Unemployment
Development expert Femi Oshoniyi warns South-West governors that rising youth unemployment could fuel insecurity and economic decline, advocating tech and agriculture solutions.
UNDP, PIND Partner for Niger Delta Development and Investment
The United Nations Development Programme (UNDP) and the Foundation for Partnership Initiatives in the Niger Delta (PIND) have signed an MoU to advance integrated development solutions, focusing on clean energy, economic growth, and climate resilience in t
Nigeria's Standard of Living: Regional Disparities and Realities
An in-depth analysis of Nigeria's standard of living, exploring regional disparities, infrastructure deficits, and economic challenges affecting daily life across the nation.
EU Carbon Market Reforms Proposed Amid Energy Crisis
The European Union has proposed adjustments to its Emissions Trading System to reduce price volatility and address rising energy costs. The changes aim to create a buffer of unsold allowances to respond to future market tightness.
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Lagos Named Nigeria's Best State for Business in 2026 Report
Lagos State has been ranked as Nigeria's top state for business, scoring 85.6% in a new PEBEC report. Governor Sanwo-Olu attributes this to digital reforms and infrastructure upgrades.
Abia, Ogun Record Highest Intercity Bus Fares in Nigeria
National Bureau of Statistics reports transport fare hikes across air, land, and water in February 2026, with Abia and Ogun states topping intercity bus costs.
Naira Falls to ₦1,386.72 as Banks Adjust Dollar Rates
The Nigerian naira weakened further against the US dollar, closing at ₦1,386.72 as commercial banks adjusted rates amid a 62% drop in interbank FX deals and global oil price surges.
El-Rufai: Nigeria's Growth Crisis from Talent Misallocation
Former Kaduna governor Nasir El-Rufai argues Nigeria's economic underperformance stems from misallocated human capital, with incentives driving talent to rent-seeking over productive sectors like entrepreneurship.
FGN Bond Auction Oversubscribed by 4% in March 2026
Nigeria's March 2026 Federal Government bond auction recorded strong investor demand, with subscriptions exceeding the offer by 4.28%. The Debt Management Office reported total bids of N931.5 billion against an initial offer of N750 billion.
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FG Expands ₦75,000 Cash Transfer to 15 Million Homes
The Nigerian government has launched the Conditional Cash Transfer programme targeting 15 million vulnerable households, with ₦75,000 disbursed in three phases. Over 9 million households have already received payments.
Manufacturers Decry Rising Energy Prices, Dwindling Margins
The Manufacturers Association of Nigeria warns that escalating global energy prices and supply chain disruptions threaten to cripple domestic production, urging immediate government intervention.
Lagos GDP to Hit N73.15 Trillion in 2026, Targets $1 Trillion Economy
Lagos State Government unveils economic projections, forecasting GDP to reach N73.15 trillion in 2026 and aiming for a $1 trillion economy by 2052, driven by data-led governance and strategic planning under the T.H.E.M.E.S+ Agenda.
Middle East Conflict May Cut Africa's Growth by 1.5%
The African Development Bank warns that prolonged Middle East conflict could reduce Africa's economic growth by up to 1.5%, citing risks from oil price hikes and debt pressures.
U.S.-Africa Summit in Mauritius Amid Iran War Concerns
Mauritius hosts the U.S.-Africa Business Summit in July 2026, drawing over 2,500 delegates to boost trade and investment, while global uncertainties from the Iran conflict pose challenges for travel and logistics.
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Experts: Reforms Need Transparency, Inclusive Growth
Stakeholders at a Lagos dialogue warn Nigeria's economic reforms remain fragile without tackling inequality, improving fiscal transparency, and better policy communication.
Reverse Japa Trend: Nigerians Returning Home from Abroad
A growing number of Nigerians who left for better opportunities abroad are now returning home, citing economic opportunities, family ties, and quality of life.
Nigeria Rated Low in Global Debt Transparency Review
Nigeria has received a low rating in transparency, accountability, oversight, and public participation in national debt management, according to the Open Budget Survey 2025. The International Budget Partnership calls for urgent reforms to enhance public t
FG Aims to Unlock $3.5 Trillion AfCFTA Market for MSMEs with Digital Payments
The Nigerian government has unveiled a report on cross-border digital payments and identity to help Micro, Small, and Medium Enterprises tap into the $3.5 trillion African Continental Free Trade Area market, emphasizing fintech and infrastructure support.
US-Africa Summit in Mauritius Amid Iran War Jitters
The US-Africa Business Summit will convene in Mauritius this July, bringing together over 2,500 delegates to boost trade and investment, despite concerns over rising fuel costs and US policy impacts linked to the Iran conflict.
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Nigeria Faces Mixed Fortunes as Oil Prices Spike Amid Iran Crisis
Global oil prices have surged into triple digits due to Middle East tensions, offering potential revenue gains for Nigeria but offset by global risk aversion and currency volatility.
Naira Falls to New Low as Dollar Surges Globally
The Nigerian naira has depreciated against the US dollar in both official and parallel markets, while the dollar strengthens globally amid economic uncertainties.
Lagos Extends Tax Filing Deadline to April 14, 2026
The Lagos State Internal Revenue Service has extended the personal income tax filing deadline to April 14, 2026, urging residents to use the eTax platform for submissions.
Naira Depreciates, FX Turnover Drops in Official Window
Nigeria's naira depreciated 0.22% to ₦1,383.58 per dollar in the official market as foreign exchange turnover fell to $142.29 million, highlighting ongoing currency pressures amid reduced liquidity.
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Global Energy Emergency: Nations Enact Fuel Rationing
Countries worldwide declare energy emergencies as Strait of Hormuz disruption causes fuel price surges. From UK to Australia, governments implement radical measures including fuel rationing, free public transport, and work-from-home mandates.
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FG Eyes $1tn Economy with IsDB Energy, Trade Reforms
The Federal Government intensifies collaboration with the Islamic Development Bank to mobilize investments in infrastructure, energy, and trade reforms, aiming to grow Nigeria's economy to $1 trillion by 2030.
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