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The Nigerian Naira opened trading on Monday with a notable gain against the US Dollar at the official foreign exchange market, signaling a positive start to the week after a period of depreciation. Data published by the Central Bank of Nigeria (CBN) showed that the Naira closed at ₦1,456.56 per dollar at the official…
Nigeria pumped more crude oil in the first half of 2025, but the money did not follow. Despite a modest recovery in production, the Federal Government earned ₦16.2 trillion less than projected from oil between January and June, once again exposing the fragility of an economy still heavily tied to a volatile commodity. According to…
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has issued a stark warning, outlining the negative consequences for workers and businesses if Nigeria’s newly signed tax laws are not implemented by the January 1, 2026 deadline. President Bola Tinubu recently enacted four major tax reform bills, hailed by the…
As Christmas draws near, Lagos markets are beginning to glow with festive colours—but behind the tinsel and bright displays lies a more measured mood. Traders across major commercial hubs say this year’s yuletide season is unfolding with uneven momentum, shaped by rising costs, cautious consumer behaviour and shifting spending priorities. At the Balogun Business Association…
Gold prices soared to a historic high on Monday, driven by growing market confidence that the U.S. Federal Reserve will extend its rate-cutting cycle into the coming year. In early trading, the spot price of gold reached an all-time peak of $4,383.76 per ounce, surpassing its previous record of $4,381.52 set in October. The…
A regional assembly in Japan on Monday backed the restart of the world’s largest nuclear power station—a landmark decision that brings the Kashiwazaki-Kariwa facility a step closer to generating electricity for the first time since the 2011 Fukushima disaster. The Niigata prefectural assembly approved a supplementary resolution endorsing Governor Hideyo Hanazumi’s earlier decision to…
Dangote Petroleum Refinery has commenced nationwide sales of Premium Motor Spirit (PMS) at a pump price of ₦739 per litre across all MRS Oil Nigeria Plc filling stations, in a move expected to ease fuel costs and stabilise Nigeria’s downstream petroleum market. The refinery announced the development in a statement issued on Sunday, describing the…
A coalition of northern youths under the banner of the Arewa Youth Assembly (AYA) has rejected the recently enacted tax reform laws signed by President Bola Tinubu, alleging that the version gazetted and released to the public differs materially from what was debated and passed by the National Assembly. The group described the development as…
The United States has approved nearly $2.1 billion in health funding for Nigeria under a new five-year bilateral agreement aimed at strengthening the country’s healthcare system, with a strong emphasis on supporting Christian faith-based health providers. The agreement, signed on Saturday, commits the U.S. government—through the Department of State and in collaboration with Congress—to expanding…
As Christmas draws closer, Nigeria’s highways are once again filling with determined travellers—this time at a steep financial and emotional cost. Despite persistent fears of kidnapping and worsening insecurity on major inter-state roads, thousands of Nigerians travelling for the Yuletide, particularly to the South-East and South-South, are rushing to secure road transport tickets—many at prices…
