Daily Business Reporter

Nigeria’s latest sectoral performance data reveals a clear imbalance in economic growth—one that highlights both opportunity and risk. While a handful of sectors are expanding rapidly, the industries that employ the majority of Nigerians and contribute the largest share to GDP are growing too slowly to drive broad-based prosperity. A Two-Speed Economy Emerges Recent data […]

U.S. lawmakers are pushing for stricter conditions on Nigeria’s access to American aid, citing escalating security concerns, governance issues, and alleged lobbying efforts by Abuja in Washington. The move was revealed in a statement shared by Congressman Riley Moore, who outlined provisions in a proposed State Department funding bill aimed at tightening oversight and linking

The Lagos State chapter of the Nigeria Labour Congress (NLC) has called on the state government to raise the minimum wage from N85,000 to N225,000, arguing that rising inflation has significantly eroded workers’ earnings and purchasing power. The demand was made by the council’s chairperson, Funmi Sessi, during the 2026 International Workers’ Day celebration held

The Nigerian naira posted a slight week-on-week decline, closing at N1,374 per dollar on Thursday, as persistent volatility continues to shape the foreign exchange market. Data from the Central Bank of Nigeria shows the currency fluctuated throughout the week, trading at N1,369/$ on Monday, N1,383/$ on Tuesday, and N1,370.5/$ on Wednesday, before markets closed on

  Nigeria’s economic activity recorded a marginal decline in April 2026, ending 16 consecutive months of expansion, as the composite Purchasing Managers’ Index (PMI) dropped to 49.4 points, according to data released by the Central Bank of Nigeria. The PMI, a key indicator of business conditions, fell below the 50-point benchmark that separates expansion from

Nigeria’s proposed Sokoto–Badagry Super Highway has come under increased scrutiny following the approval of a $516.33 million external loan by the House of Representatives, with stakeholders raising concerns over funding, transparency, and long-term fiscal implications. The 1,068-kilometre project, stretching from Illela in Sokoto State to Badagry in Lagos, is designed to connect northern agricultural zones

The United Arab Emirates is set to formally withdraw from the OPEC+ alliance effective May 1, marking a major shift in global oil market coordination with potential implications for price stability and Nigeria’s fiscal outlook. The decision follows years of tension between Abu Dhabi’s ambitious production expansion plans and the output limits imposed by the

NNPC Completes OB3 River Niger Crossing, Boosts Gas Supply Network The NNPC Gas Infrastructure Company, a subsidiary of Nigerian National Petroleum Company Limited, has completed the River Niger crossing of the 130-kilometre Obiafu-Obrikom-Oben (OB3) gas pipeline, marking a major milestone in the expansion of Nigeria’s gas transmission infrastructure. In a statement, NNPC Ltd’s Chief Corporate