Lagos Approves 13% Fare Increase on BRT Buses
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.
Category : Economy
Naira Falls to N1,375/$ in Black Market as Forex Access Issues Persist
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.
Nigeria Non-Oil Exports Hit $6.1Bn, Zenith Bank Tops
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.
Naira Hits 3-Year High as Dollar Hoarders Sell, Reserves at $48.5bn
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
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Top 10 Banks Lead Nigeria's $17.78B Capital Inflow in 2025
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.
Nigeria Naira Scrapped for Eco in 2027? Facts Emerge
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.
Naira Strengthens, Dollar Hoarders Count Losses Amid Rising Reserves
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.
Naira Gains: Canadian Dollar Drops Below N1,000, Cuts Visa Costs
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 Repositions Under Wike, Hosts Global Summits
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.
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Trump Enacts 10% Global Tariff Post-Supreme Court Decision
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.
Supreme Court Strikes Down Trump's Global Tariffs
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 Public Debt Hits N153.29 Trillion in Q3 2025
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.
Oil Prices Rise Above Budget Benchmark, Naira Gains Momentum
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.
Naira Hits 3-Year High, Nigerians Sell Dollars in Rush
The Nigerian naira strengthens sharply to N1,345 per dollar in the parallel market, forcing speculators to offload dollars. The gap with the official rate narrows to just 0.29%, marking a significant convergence.
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Naira Falls as Nigeria's Reserves Hit $48.5 Billion
Nigeria's currency depreciated at the official forex window, closing at ₦1,341.35 per dollar, despite external reserves rising to $48.5 billion. High demand for foreign currency and reduced central bank intervention contributed to the decline.
Naira Climbs to Two-Year Peak at 1,347/$ on FX Inflows
The Nigerian naira has surged to one of its strongest levels in nearly two years, closing at 1,347.78 per dollar in the official market, driven by improved liquidity and Central Bank interventions.
Nigeria's Forex Reserves Hit $48.5B, Highest in 13 Years
Nigeria's foreign exchange reserves have surged to $48.5 billion, reaching their highest level in nearly 13 years, providing significant support for the naira and signaling economic strength amid ongoing reforms.
Naira vs CAD: Diaspora Woman's Exchange Rate Concern
A Nigerian-Canadian cybersecurity coach expresses conflicted emotions over the naira's appreciation against the Canadian dollar, highlighting impacts on exchange power and life in Nigeria.
Nigeria Rises to Third-Largest World Bank Borrower
Nigeria's debt to the World Bank's International Development Association surged to $18.7 billion, marking an 11.3% annual increase and raising concerns over fiscal sustainability and revenue management.
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Nigeria Mandates E-Invoicing for Large Businesses
Nigeria Revenue Service enforces mandatory electronic invoicing for large businesses, with MTN Nigeria as the first to comply. The system aims to enhance tax compliance and digital administration.
Dangote Calls for National Forum on Power Crisis and Industrial Growth
Aliko Dangote has urged the federal government to convene a national retreat to address Nigeria's electricity challenges, warning that unstable power supply threatens manufacturing and job creation. He emphasized stronger protection for local industries.
X Users Debate Rising Cost of Living: Budgeting vs. Income
A viral X post sparks intense debate on Nigeria's economy, with users arguing whether budgeting can fix the cost-of-living crisis or if stagnant wages are the real issue, highlighting divergent views on consumer habits and financial realities.
Nigeria Leads West Africa in Accelerated Eco Currency Push
West African leaders have intensified efforts to launch the long-delayed Eco regional currency, with Nigeria playing a central role in harmonizing monetary policies and meeting strict macroeconomic benchmarks for the ambitious 2027 target.
Naira Gains: Dollar Below N1,400 at Black Market, New Rates Set
The Nigerian naira has appreciated significantly, with the dollar exchange rate dropping below N1,400 at the black market. Traders announce new rates amid improved forex supply and rising external reserves.
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Dangote Predicts Naira at N1,000 per Dollar by 2026
Billionaire industrialist Aliko Dangote forecasts the Nigerian naira could appreciate to N1,000 against the US dollar by 2026, citing government economic reforms and import restrictions as key drivers.
Ramadan 2026: Food Price Surge in Nigeria
Ahead of Ramadan, Nigerian markets see sharp increases in staple food prices like rice and beans, with some areas reporting doubled costs, while Lagos and Kano show relative stability.
Naira Gains as Banks Quote New Dollar Rate in Market Rally
The Nigerian naira appreciates to ₦1,335.95 per dollar, with external reserves rising to $47.8 billion, boosting market confidence and liquidity across official and parallel markets.
10 Most Affordable Nigerian States as Inflation Drops
New NBS data shows Nigeria's inflation fell to 15.10% in January 2026, with Ebonyi, Katsina, and Imo among the top 10 most affordable states to live in based on lowest inflation rates.
20 Countries Where Nigerians Can Earn Highest Salaries in 2026
New data reveals the top 20 global destinations where Nigerian professionals can secure the highest net monthly salaries in 2026, with Switzerland leading at $7,692 monthly.
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NRS Sets July 2026 Deadline for E-Invoicing System
The Nigeria Revenue Service has announced a phased rollout of its E-Invoicing and Electronic Fiscal System, with medium-sized businesses required to comply by July 1, 2026.
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