World Bank Cancels $717.7m Power Sector Financing 

  The Federal Government has lost access to $717.7m in undisbursed World Bank financing originally earmarked to rescue Nigeria’s troubled electricity sector, following a joint decision by both parties to terminate the Power Sector Recovery Performance Based Operation. According to restructuring documents obtained from the World Bank, the cancellation was triggered by a formal request…

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US Disburses $187m Aid To Nigeria In 2026

  The United States has disbursed a total of $187,352,312 in foreign assistance to Nigeria in 2026, according to updated data published on the US Department of State website on May 20, 2026, under the “US Foreign Assistance” report. The latest figures position Nigeria as the second largest recipient of American assistance in sub-Saharan Africa…

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Trading Volume Slumps Nearly 50% On NGX

  Heavyweight sell offs in industrial and insurance counters pushed the Nigerian Exchange Limited deeper into negative territory last week, wiping billions of naira off investor portfolios and offsetting modest gains recorded across banking and oil equities, even as overall market turnover collapsed by nearly half. The benchmark NGX All Share Index closed the week…

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Manufacturers Spend N1.34tn on Alternative Power

Rising Costs, Insecurity Threatens Nigerian Manufacturing – MAN

Nigerian factory floors are facing an existential crisis as a combination of multi-layered taxation, currency volatility, and insecurity cripples industrial operations. The Manufacturers Association of Nigeria issued a stark warning detailing the rapid erosion of corporate survival margins across the country’s major industrial hubs. Factory owners report that production volumes have dropped significantly over the…

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Regulator Imposes N100 Million Foreign Exchange Fines

Capital Importation Surges to $3.37bn – CBN

Foreign capital importation into Nigeria jumped by 182 per cent month-on-month to reach $3.37bn in January. The Central Bank of Nigeria disclosed the sharp increase in its latest monthly economic report, contrasting the data with the $1.25bn recorded last December. Aggressive monetary tightening and attractive local yields motivated the sudden influx of international cash. However,…

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