The value of the naira started the week on a depreciating note, sliding slightly to N1,551 and to the dollar at the close of trading on Monday, according to data by the Central Bank of Nigeria (CBN). Last Friday, the value of the naira had closed at N1,548 to the dollar. Last week, the value […]

The value of the naira closed the year 2024 weaker than it opened the year with as the Central Bank of Nigeria (CBN) said capital inflow into the country rose to $1.89 billion in the month of October. From N907 to the dollar which it closed at the official end of the foreign exchange market […]

The Nigerian equities market has shown remarkable resilience in 2024, despite ongoing economic challenges such as high inflation and rising interest rates. The market posted an impressive gain of N21.845 trillion, defying mixed economic signals that influenced investor sentiment in 2024. Shifting gears, the equities market kicked off 2024 on a strong footing, as the […]

Stakeholders in Nigeria’s maritime sector have warned that the nation is losing billions of naira annually to illegal fishing and other maritime crimes, which pose a significant threat to the country’s N2.5 trillion blue economy potential. These challenges, they argue, must be addressed urgently if Nigeria is to fully benefit from its ocean economy. Reports […]

The Nigerian National Petroleum Company Limited (NNPC), Dangote Group, and retail outlets owners have reached an agreement aimed at resolving the ongoing fuel supply crisis in Nigeria. The outlet owners, under the aegis of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), said on Sunday that they had reached an agreement with the Nigerian […]

The report of new research that tracked Nigerian households to understand their resilience over time—conducted by the National Bureau of Statistics with support from the World Bank—has shown a staggering deficit in the quality of lifestyle, feeding, and security of most households in the last two years. The findings gave a granular sense of the […]

The federal government has restated its plan to metamorphose Nigeria’s mineral sector into a linchpin of the national economy as part of its drive to diversify the economy. Addressing the 9th Nigeria Mining Week in Abuja, President Bola Tinubu, represented by the minister of Innovation, Science, and Technology, Uche Geoffrey Nnaji, underscored the administration’s unwavering […]

There are indications of a looming debt crisis as Nigeria’s external debt may rise to $45.1 billion by the end of 2024, with the Federal Government planning to secure additional external funding. This follows a report from the Debt Management Office (DMO), which revealed that the country’s external debt stock increased by $780 million in […]