Economy

  Nigeria’s equities market recorded one of its strongest starts in recent years, with investors gaining a total of ₦56.62 trillion in market value within the first four months of 2026, driven by broad-based buying across key sectors. Data from the Nigerian Exchange Limited showed that total market capitalisation rose from ₦99.376 trillion at the […]

  The Tax Ombud and Chief Executive of the Office of the Tax Ombud, John Nwabueze, has highlighted the critical role of the media in advancing ongoing fiscal reforms under Bola Ahmed Tinubu, urging journalists to intensify public education on taxpayer rights and dispute resolution mechanisms. Speaking during an engagement with business editors in Lagos,

  Analysts at Cowry Asset Management Limited have raised concerns over Nigeria’s near-term economic outlook following fresh signs of weakening demand and slowing business activity across key sectors. In its latest assessment of April 2026 data from the Central Bank of Nigeria, the firm noted that the composite Purchasing Managers’ Index (PMI) declined to 49.4

  Phillipe Valahu, Chief Executive Officer of the Private Infrastructure Development Group (PIDG), has highlighted the critical role of credit enhancement, domestic capital mobilisation, and stronger public-private partnership (PPP) frameworks in addressing Nigeria’s infrastructure financing gap. Speaking in an interview with Isaac Chibuife, Valahu explained that while Nigeria has viable infrastructure projects, many struggle to

Nigeria’s growing digital ecosystem is facing increasing cybersecurity risks as experts warn that weak oversight, limited testing, and a shortage of skilled professionals are leaving critical systems vulnerable to attack. This follows a series of high-profile cyber incidents affecting both government institutions and private sector organizations, raising fresh concerns about the country’s preparedness to handle

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