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The naira traded within a familiar, narrow band against the United States dollar on Wednesday, holding its recent run of relative calm in both the official and street markets even as retail demand kept the parallel rate above the ₦1,400 mark. Figures from the Central Bank of Nigeria’s Nigerian Foreign Exchange Market, NFEM, placed…
Nigerian students seeking to turn business ideas into funded ventures now have a fresh window of opportunity, as the National Association of Nigerian Students (NANS) formally opened applications for the 2026 edition of its entrepreneurship initiative, NANSInnovate, at a time when the country’s swelling population of unemployed graduates has become one of its most…
Trading data released by the Nigerian Exchange Limited (NGX) for the week of 3 to 7 August 2026 shows that a small cluster of stockbroking firms continues to control the bulk of activity on the bourse, a pattern that mirrors the broader concentration already visible across Nigeria’s equities market this year. According to the…
Shareholders of Nigeria’s biggest lenders walked away from the 2025 financial year with a story of two markets. Six banks cleared the Central Bank of Nigeria’s eligibility test and pushed out a combined N1.27 trillion in dividends, according to findings published by Financial Vanguard. Five others, profitable on paper and in some cases record…
Ninety five kobo out of every naira the Federal Government spent servicing its domestic debt between January and March 2026 went into interest payments alone, a breakdown of the Debt Management Office’s latest quarterly returns shows, leaving barely a sliver of the N3.14 trillion outlay to actually reduce what the country owes. The DMO’s…
The Nigerian Communications Commission has initiated fresh enforcement proceedings against mobile network operators over persistent service failures. Regulatory officials issued pre-enforcement notices to firms failing key performance benchmarks across voice and data channels. The commission aims to end years of unpunished network drops and unexplained data depletion. Operators now face hefty financial penalties or mandatory…
Nigeria’s currency closed the trading week on a remarkably even keel, with the naira quoted at about ₦1,368.22 to the United States dollar at the Nigerian Foreign Exchange Market on Friday, August 7, 2026, a level that caps one of the longest stretches of exchange rate calm the country has seen since the market…
Nigeria’s petroleum regulator has moved to place the country’s fuel pricing culture under formal competition law, unveiling draft rules that would outlaw collusion, artificial scarcity and quiet coordination among operators in a market where pump prices have swung by hundreds of naira within single months. The Nigerian Midstream and Downstream Petroleum Regulatory Authority published…
Nigerian private sector activity rebounded to its highest level in five months. The Nigerian Economic Summit Group reported that its Business Performance Index rose to 108.6 points in July 2026. A score above 100 signals expanding commercial activity. Local firms expanded output, boosted demand, and hired fresh workers despite mounting cost pressures. Solid earnings across…
African telecom operators will spend $76bn on network hardware over five years. Industry lobby group GSMA expects capital expenditure to peak before 2030. Heavy private spending must boost coverage and service quality across the continent. Mobile networks currently contribute $240bn to African economic output annually. Capital investments drive regional digital expansion. Big corporate bets face…
