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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…
Nigeria’s economy is on track for its fastest second-quarter expansion in five years, according to early macro nowcast estimates. The projected acceleration follows a solid opening-quarter performance that expanded by nearly four per cent year-on-year. Analysts attribute the momentum to easing inflation pressures, improved foreign exchange availability, and steady private sector demand. The agonising phase…
Nigerian sovereign Eurobonds extended their market recovery as international investors returned to dollar debt across emerging markets. Average yields fell to 6.95 per cent as buying interest across short and medium tenors lifted bond prices. Global markets are warming to Nigerian risk despite persistent economic uncertainties at home. Higher prices signal that global fund managers…
Former Vice President Atiku Abubakar has launched a blistering critique of President Bola Tinubu’s economic claims, insisting official statistics conceal widespread hardship. In a statement issued by his media aide Phrank Shaibu, the opposition leader argued that the macroeconomic recovery narrative collapses in the face of shuttered factories and hollowed-out family budgets. Polished charts do…
Nigeria’s steel paradox is as stark as it is familiar. A nation sitting on large iron ore deposits, generating scrap metal in industrial quantities and riding a construction boom still imports almost all the steel it consumes, draining an estimated four billion dollars from the economy every year. A newly published private framework…
The Federation Account Allocation Committee distributed an unprecedented 2.550 trillion Naira to Nigeria’s three tiers of government following a substantial surge in tax and oil receipts. The distribution represents a 10.9 per cent increase from the 2.300 trillion Naira shared in the preceding month. This fiscal windfall provides a temporary cushion for cash-strapped state governors…
Nigeria’s headline inflation rate slowed to 15.91 per cent in June, marking the first drop in three months. Data from the National Bureau of Statistics showed a microscopic decrease of 0.02 percentage points from the 15.93 per cent recorded in May. Central bank officials will likely view this marginal easing as a validation of their…
Nigeria’s economy remained firmly cash-driven in May 2026, as the volume of money circulating outside the banking system rose to N5.19 trillion, exposing the limits of the Central Bank of Nigeria’s years-long campaign to wean the country off physical cash. Latest money and credit statistics from the CBN showed that currency outside banks…
The Presidency has dismissed as “childish, hollow and an unworthy distraction” the call by Nigerian Democratic Congress presidential candidate Peter Obi for President Bola Tinubu’s resignation, framing the demand as a misreading of Nigeria’s constitutional order and a reaction to the All Progressives Congress’s recent electoral gains. In a statement signed on Monday by…
The naira opened the week on solid footing, trading at around ₦1,363.41 to the United States dollar at the official window on Monday, June 22, 2026, as the gap between the formal and street markets stayed unusually slim. The figure, drawn from the Nigerian Foreign Exchange Market, reflects the volume-weighted average that the Central…
