The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
Nigeria’s decision to float the naira without building a solid local production base has wrecked household incomes and wiped out the middle class. Former Cross River State Governor Donald Duke delivered this assessment on Monday, arguing that market-driven exchange rates only work when backed by strong exports. Currency floats punish nations that rely heavily on…
The Central Bank of Nigeria and national banking surveillance authorities have issued stricter compliance directives for managing distressed corporate credit and commercial exposure. Commercial banks must enforce aggressive impairment recognition, raise provisioning buffers on classified loans, and monitor higher capital adequacy thresholds. In boardroom briefings, this supervisory firmness is a prudent exercise in balance-sheet sanity,…
The Central Bank of Nigeria granted formal preliminary approval on 23 October to JPMorgan Chase to establish a full merchant bank in Lagos, marking an unmistakable financial triumph for Abuja. This preliminary concession rewards the American banking titan for lodging a 50bn naira deposit in the capital and signals a rare vote of foreign confidence…
Nigeria’s naira held steady in early trade on Friday, 23 October 2026, exchanging at N1,330.95 against the American dollar on the official foreign exchange market. Screen-based trades opened within a tight range of N1,330.95 to N1,332.00 per dollar, giving commercial lenders in Lagos a welcome respite from wild price swings. Tight monetary policy preserves brittle…
Nigeria’s naira slipped to N1,334 against the American dollar at the official foreign exchange market in mid-October 2026, recording marginal daily depreciation as commercial lenders absorbed steady corporate demand for import bills in Lagos. The Central Bank of Nigeria reported that the local currency weakened past N1,333 per dollar during midweek spot transactions, closing at…
The International Monetary Fund has advised Nigeria and other countries against returning to blanket petrol subsidies, insisting that governments can shield poor households from rising energy costs without holding down pump prices for everyone. “Protecting people is not the same as protecting the price of fuels,” Rodrigo Valdés, Director of the Fund’s Fiscal Affairs…
The World Bank has cautioned that high fuel prices could hold back Nigeria’s progress on poverty even as the economy grows faster and inflation falls sharply in 2026. The warning is contained in the bank’s October 2026 Africa Economic Update, released on Tuesday. In the report, the World Bank raised its forecast for Nigeria’s economic…
Official statistics from the National Bureau of Statistics and the Central Bank of Nigeria present an apparent monetary achievement. Foreign exchange volatility has receded, the naira has found relative equilibrium against major trading currencies, and core inflation measures have shed several percentage points from their previous peaks. Yet across the retail markets of Dawanau in…
Federal authorities have ordered the closure of the First Niger Bridge for two weeks, cutting off the historic primary link between Asaba and Onitsha. The Federal Ministry of Works cited severe carriageway degradation and extensive structural vandalism, most acutely the stripping of stanchion bolts, steel truss components, and expansion joint fixtures by scrap scavengers, as…
Delta Commissioner Charles Aniagwu says President Tinubu’s economic reforms are improving stability but acknowledges that rising prices continue to place significant pressure on Nigerian households. Delta State Commissioner for Works and Public Information Charles Aniagwu has said President Bola Tinubu’s economic reforms are gradually stabilising Nigeria’s economy and could eventually improve purchasing power. Aniagwu acknowledged…