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
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.
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.
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.
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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.
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.
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.
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.
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.
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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.
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.
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.
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.
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
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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%.
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.
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.
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.
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.
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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.
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.
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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.
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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Nigeria's gross external reserves have climbed to $50.45 billion, marking the highest level in 13 years. This significant increase strengthens the country's financial buffer and supports currency stability amid ongoing economic reforms.
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The Federal Government of Nigeria has released a comprehensive list of items banned from importation in 2026, targeting food, household goods, and industrial materials to protect domestic industries and enhance self-sufficiency.
Nigeria's federal government introduces a new tax framework targeting artisans and small businesses, banning cash collections and roadblocks to enhance transparency and fairness in revenue system.
Nigeria's naira appreciated by 6.87% in 2025, marking its first annual gain in 13 years due to Central Bank reforms, capital inflows, and improved reserves.
Dangote Cement, BUA Cement, and Lafarge Africa collectively generated over N6.53 trillion in revenue, with profits soaring 142% as cement prices rose significantly across Nigeria.
Dangote Group has placed a major order for over 1,000 CNG-powered vehicles from China's Foton Motor to enhance its logistics operations with cleaner and more cost-efficient transport solutions.
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Zenith Bank's leadership commended Ogun State's infrastructure transformation under Governor Dapo Abiodun and proposed deeper collaboration to boost economic growth through strategic partnerships.
