Economy

Foreign operations have become increasingly important to Nigeria’s largest banks, with four members of the FUGAZ group generating a combined N1.949 trillion in pre-tax profit from their international subsidiaries in 2025. The figure represented 54.77% of their combined group pre-tax profit of N3.56 trillion, highlighting the growing strategic importance of offshore operations to the earnings […]

Nigeria’s external reserves climbed to $51.04 billion on June 18, 2026, reaching their highest level in approximately 17 years as stronger foreign exchange inflows and improving market conditions continued to strengthen the country’s reserve position. Data from the Central Bank of Nigeria> showed that gross external reserves stood at $51,035,544,733.65, the highest level recorded since

  Nigeria’s petrol imports recorded a sharp increase in May 2026, rising by 59.5% compared to the previous month despite continued growth in domestic refining capacity. The latest data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that oil marketers increased import volumes to supplement local supply, even as domestic refineries

The Nigerian Exchange (NGX) has introduced new trading rules that will significantly change how share prices move on the exchange by requiring minimum trading volume thresholds before a stock’s market price can change. The development, confirmed through the NGX Rulebook and corroborated by multiple market participants, represents a major adjustment to the exchange’s price discovery

The Central Bank of Nigeria (CBN) allotted N1.49 trillion at its Treasury Bills (NTB) primary market auction held on June 17, 2026, while raising stop rates across all three maturities. The outcome reflects growing investor demand for higher yields amid persistent inflationary pressures and expectations of continued monetary tightening. The auction comes shortly after Nigeria’s

  Nigeria’s small and medium enterprises (SMEs) are increasingly embracing digital payments and technology-driven business models as they position for growth over the next year, according to a new study by Mastercard. The report revealed strong optimism among Nigerian entrepreneurs, with 81% expressing confidence about their business outlook over the next 12 months, while 68%

  Nigeria’s headline inflation rate increased to 15.93% in May 2026, up from 15.69% in April, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics. The development has renewed investor focus on identifying stocks capable of protecting wealth and generating returns above inflation, especially as elevated consumer prices