Nigerian naira continues depreciation against US dollar
The Nigerian naira continued its downward movement against the United States dollar at the official foreign exchange market on Thursday, reflecting ongoing pressure on the local currency. Data from the Central Bank of Nigeria (CBN) showed that the naira weakened slightly compared to the previous trading day. According to the CBN figures, the naira exchanged […]
Nigeria, China $1bn investment deal requisite for self-sufficiency in sugar production — NSDC Boss, Bakrin
The National Sugar Development Council, NSDC, has said the proposed $1 billion investment agreement between Nigeria and China is crucial for achieving self-sufficiency in sugar production. The council’s Executive Secretary, Kamar Bakrin, explained that the deal would help Nigeria reduce heavy reliance on imported sugar. Bakrin noted that Nigeria has the land, manpower, and climate […]
Shettima arrives Switzerland for World Economic Forum
Nigerian Vice President, Kashim Shettima, has arrived in Switzerland to participate in the annual World Economic Forum (WEF). The forum brings together global leaders, business executives, and policymakers to discuss pressing economic, social, and political issues. During his visit, Shettima is expected to engage in discussions on global economic trends, investment opportunities, and strategies to […]
Nigerian economy better under British colonists than Tinubu, others – Kalu Aja
Economist and public commentator, Kalu Aja, has stirred debate after claiming that Nigeria’s economy performed better during British colonial rule than it does under current and past democratic leaders, including President Bola Tinubu. He shared the opinion while reacting to Nigeria’s present economic struggles. According to Aja, basic economic indicators such as infrastructure planning, currency […]
NGX rebounds with N30bn gain after SEC hikes capital requirements
The Nigerian Exchange (NGX) rebounded with a gain of about N30 billion following a new policy move by the Securities and Exchange Commission (SEC) to increase capital requirements for market operators. The development helped restore confidence among investors after recent market fluctuations. Market analysts say the rebound reflects optimism that the new SEC policy will […]
Naira records first depreciation against US Dollar in 2026
The Nigerian naira has recorded its first drop against the United States dollar in 2026, ending weeks of relative stability in the official foreign exchange market. The currency weakened slightly on the back of increased dollar demand from importers and businesses, putting pressure on supply at the Central Bank of Nigeria’s official window. Market analysts […]
31 ships with fuel, food items to arrive Lagos ports – NPA
The Nigerian Ports Authority (NPA) has announced that 31 ships loaded with fuel and food items are expected to arrive at Lagos ports in the coming days. The agency said the vessels are bringing in petrol, diesel, wheat, rice and other essential goods needed across the country. According to the NPA, the shipments are part […]
Global tensions: Gov Mbah tasks Enugu MDAs on N870bn IGR target
Enugu State Governor, Peter Mbah, has directed all ministries, departments and agencies (MDAs) in the state to intensify efforts towards achieving an ambitious internally generated revenue (IGR) target of N870 billion. The governor gave the charge against the backdrop of rising global economic tensions, which he said make it risky for governments to depend heavily […]
Naira continues gain against US dollar as Nigeria’s foreign reserves climb to $45.57bn
Nigeria’s currency, the naira, has continued to strengthen against the United States dollar as the country’s foreign exchange reserves increased to about $45.57 billion. Analysts say the improvement reflects better inflows from crude oil sales, growing investor confidence, and tighter management of the foreign exchange market by the Central Bank of Nigeria. Market watchers explain […]
Ex-minister Kemi Adeosun Backs Tax Reforms
Former Minister of Finance, Kemi Adeosun, has expressed support for the federal government’s ongoing tax reform efforts. She said the reforms are important for strengthening Nigeria’s economy and improving how government raises revenue without relying too heavily on borrowing. Adeosun explained that Nigeria needs a fair and efficient tax system that encourages compliance while reducing […]