Senate approves Tinubu’s $6bn loan request
The Nigerian Senate has approved President Bola Tinubu’s request to secure $6 billion in external loans. The approval came shortly after the request was presented and debated during plenary. The Senate considered a report from a committee on local and foreign debts before giving its backing. The loan includes a $5 billion financing deal with […]
Tinubu’s UK visit: Nothing to gain except sumptuous banquet, glamorous reception – Economist
An economist, Prof. Akpan Ekpo, has criticized the recent Nigeria-UK port agreement, arguing it primarily benefits the British economy. Speaking on Arise TV, he warned that the deal would favor the UK’s steel industry and banks while increasing Nigeria’s debt burden. Ekpo added that most of the equipment for port rehabilitation would come from the […]
Nigeria’s inflation rate has dropped by half since 2023 — Information Minister, Idris
Nigeria’s Minister of Information, Lai Mohammed Idris, has revealed that the country’s inflation rate has dropped by half since 2023. He attributed the improvement to government policies aimed at stabilizing prices and supporting local production. The minister noted that while challenges remain, efforts to boost agricultural output, regulate essential commodities, and strengthen fiscal measures have […]
63% poverty rate shows Tinubu’s economic policies have failed – ADC
The opposition party, African Democratic Congress (ADC), has criticised the economic policies of President Bola Ahmed Tinubu, saying the reported rise in Nigeria’s poverty rate to 63 percent shows that the administration’s approach has not improved citizens’ welfare. The party said the figure reflects the growing hardship faced by many Nigerians in recent years. In […]
Dollar to Naira exchange rate today, March 11, 2026
The Nigerian Naira showed relative stability against the US Dollar in early trading on Wednesday, March 11, 2026. Data from the Central Bank of Nigeria indicates the currency opened around ₦1,397 per dollar in the official market, with slight fluctuations during trading hours. In the official Nigerian Foreign Exchange Market, the rate later moved close […]
Parallex Bank Successfully Completes Recapitalisation, Positions For Growth
Parallex Bank Limited has successfully completed its recapitalisation process, surpassing the ₦50 billion capital requirement set for regional commercial banks by the Central Bank of Nigeria. The achievement marks an important step for the bank as it strengthens its financial position. The development places Parallex Bank among the financial institutions that have complied with the […]
We choose to be poor – Peter Obi blasts Nigerians
Former Labour Party presidential candidate, Peter Obi, has blamed Nigeria’s worsening poverty on poor leadership and a culture of celebrating corrupt officials. He made the comments while receiving members of the Association of Skilled and Vocational Artisans of Nigeria (ASVAN) in Abuja. Obi, the ex-governor of Anambra State, said Nigeria is rich in natural and […]
Naira records highest single-day depreciation against US dollar
The Nigerian Naira fell sharply against the US dollar on Monday, marking its largest single-day depreciation this year. At the official exchange rate, the currency dropped to N1,378.03 per dollar, down from N1,363.39 on Friday. In the black market, the Naira also weakened, closing at N1,380 per dollar, down N5 from last week, narrowing the […]
Naira records mixed sentiments against US dollar across official, black markets
The Nigerian Naira recorded mixed trends against the US dollar on Wednesday, with fluctuations observed across both official and parallel markets. While some windows showed slight gains, others experienced minor declines, reflecting market uncertainty. At the official interbank rate, the Naira remained relatively stable, trading within narrow margins, while the black market exhibited higher volatility […]
DMO to auction N800bn bonds at N1,000 per unit
The Debt Management Office has announced a public offer of three Federal Government bonds worth N800 billion, priced at N1,000 per unit. The offer includes a N400 billion bond at 17.95% interest maturing in 2032, alongside two others valued at N300 billion and N100 billion with yields close to 20 percent. According to the agency, […]