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Net foreign exchange inflow into the Nigerian economy fell by 18.3 per cent year on year to 61.29 billion dollars in the eleven months ended November 2025. The Central Bank of Nigeria data showed the drop from 69.61 billion dollars recorded in the corresponding period of 2024. This development stemmed from a 25.2 per…
Nigeria’s treasury grew by N2.96 trillion in the third quarter of 2025 through Company Income Tax. According to the National Bureau of Statistics (NBS), the Q3 figure represents an eight percent increase from the N2.78 trillion recorded in the second quarter of 2025. Local businesses provided N920.91 billion of this sum while foreign firms contributed…
The Dangote Petroleum Refinery has raised its petrol ex-depot price by 100 Naira, taking the rate from 774 Naira to 874 Naira per litre. Management implemented the change on Monday following a sharp rise in global crude oil prices, which surged past the $80 per barrel mark overnight. The refinery briefly suspended petrol loading at…
On Sunday morning, while the traders of Kugbo Furniture Market were at prayer, their livelihoods were reduced to charcoal. The fire, which razed fifteen shops and several homes, was not particularly sophisticated; it was fueled by the predictable cocktail of sawdust, varnish, and polyurethane foam. Yet, the real accelerant was not chemical, but administrative. The…
Nigeria’s National Assembly is rarely accused of moving too slowly when money is on the table. Yet, the decision to postpone plenary resumption from February 24th to March 5th suggests a rare outbreak of diligence. The official reason is the need for committees to conclude budget defense sessions with government agencies. The unofficial reality is…
Nigeria’s federal government is preparing to sell select state-owned assets to private investors starting in 2026, according to Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. Speaking during the AlUla Conference for Emerging Market Economies in Saudi Arabia on Monday, Edun confirmed that discussions are ongoing regarding which public assets…
The Bank of Industry has obtained regulatory clearance from the Central Bank of Nigeria to establish a Non-Interest Banking window, a development the development finance institution says will broaden financial access for ethically motivated enterprises and underserved segments of the economy. According to a statement issued by the bank, the approval authorises BoI to…
The United Arab Emirates has projected a massive ten-billion-dollar investment push into the Nigerian economy. This ambitious financial commitment emerged during the high-profile Investopia Global Africa summit held in Lagos Nigeria on Monday. Emirati officials indicated that these funds will primarily target the infrastructure, digital economy, and renewable energy sectors. This strategic announcement signals…
The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.97 trillion for December 2025. This disbursement represents the collective revenue generated by the federation during the final month of last year. The committee distributed these funds among the Federal Government, the 36 states, and 774 local governments. This record-breaking figure reflects a significant…
The Dangote Group has officially secured a long-term gas supply agreement with subsidiaries of the NNPC. This landmark pact ensures a steady flow of natural gas to the conglomerate’s massive industrial complex. Specifically, the Nigerian Gas Infrastructure Company will facilitate the delivery of feedstock to the Dangote Refinery. The agreement also covers energy requirements for…
