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The Presidency has dismissed reports suggesting that Wale Edun and Ahmed Musa Dangiwa were dismissed from the Federal Executive Council. Presidential spokesperson Bayo Onanuga confirmed that both ministers submitted their resignations voluntarily. Mr. Edun, who turned 70 on Monday, cited deteriorating health as the primary driver for his exit. He intends to shift his focus…
Total public debt stock for Africa’s largest economy climbed to N159.28 trillion as of December 2025, with domestic borrowing now constituting the larger share of the nation’s liabilities, according to official figures released by the Debt Management Office. The data, which aggregates the obligations of the Federal Government, the 36 state governments, and the…
The Nigerian National Petroleum Company (NNPC) Limited has significantly scaled its crude supply to the Dangote Oil and Gas Company, delivering over 1.03 million metric tonnes of crude in April 2026. This volume equates to roughly 6.8 million barrels or 1.08 billion litres. Eight major cargoes handled by the NNPC trading arm facilitated this flow,…
Nigeria’s all-commodity group import index rose by a marginal 0.11 per cent in the fourth quarter of 2025. Data released by the National Bureau of Statistics (NBS) on Tuesday attribute the uptick primarily to higher costs for paper-making materials, textiles, and mineral products. Simultaneously, the export price index increased by 0.12 per cent, driven by…
The Nigeria Customs Service (NCS) has begun integrating Artificial Intelligence into its operations to curb revenue leakages and identify under-declared goods. Comptroller-General Adewale Adeniyi flagged off a capacity-building programme in Abuja on Monday, marking a shift toward data-driven enforcement. By deploying AI-enabled cameras and risk-assessment systems, the service aims to boost collections without increasing the…
The Nigerian Naira opened with a modest recovery on Tuesday morning, trading at N1,358.20 per Dollar in the official window. Early sessions at the Nigerian Foreign Exchange Market (NFEM) showed the currency oscillating within a tight band between N1,357.31 and N1,358.63. This stability follows recent central bank interventions designed to smooth out mid-month liquidity volatility….
The Nigerian National Petroleum Company Limited (NNPCL) has reported a decline in oil production for February 2026, even as monthly revenues saw a modest increase. Output fell to 1.51 million barrels per day (mbpd), a notable slide from the 1.64 mbpd achieved in January. This dip highlights the persistent volatility in Nigeria’s upstream sector despite…
The World Bank has reported that poverty in Nigeria climbed to 63 percent in 2025, affecting an estimated 140 million people, even as headline inflation declined sharply from 34.80 percent in December 2024 to 15.15 percent in December 2025. The report shows poverty rising steadily from 56 percent in 2023 to 61 percent in…
The Nigerian Naira opened trading on Wednesday, April 8, 2026, with modest appreciation against the United States Dollar at the Nigerian Foreign Exchange Market, even as the parallel market continued to trade at a significant premium. The divergence between official and unofficial exchange rates highlights persistent structural pressures within the domestic foreign exchange ecosystem….
The naira opened the week with a quiet show of strength. On April 6, the currency rose to ₦1,377.80 per dollar in the official market. This small gain follows a close of ₦1,380.79 last week. Stability is becoming a habit rather than an accident. The Central Bank of Nigeria (CBN) now uses a matching system…
