Economy

  Nigeria’s energy inflation rate fell sharply to 4.37% in July 2026, its lowest level in four months, according to the latest Consumer Price Index (CPI) data released by the National Bureau of Statistics (NBS). The latest figure represents a significant decline from the 9.83% recorded in June 2026, extending the volatile movement in energy-related […]

  eTranzact International Plc grew its revenue by 22.6% to N16.28 billion in the first half of 2026, as the payments company expanded its operations and continued to strengthen its presence in Nigeria’s financial technology and payments market. The revenue growth was supported by continued investment in the company’s agent banking and point-of-sale (POS) network,

  The Federal Government has urged banks and payment service providers to unlock Nigeria’s estimated $14.8 billion annual gender financing opportunity by expanding access to financial services and funding for women. The Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim, made the call on Wednesday at the Second National Gender Inclusion Conference (SheIsIncluded)

  US President Donald Trump has declared what he described as “economic warfare” against Iran, warning countries, businesses and financial institutions that provide economic support to Tehran that they could face severe consequences from Washington. Trump made the announcement on August 20, 2026, in a post on Truth Social, his social media platform, as the

  Nigeria incurred N10.61 trillion in additional debt-service costs between June 2023 and December 2025, exceeding the N6.47 trillion spent on strategic infrastructure development during the same period. The figures are contained in the Federal Government’s Nigeria’s Reform Scorecard: The Benefits, Costs and Harms Prevented, released by the Federal Ministry of Finance on Wednesday. What

The Nigerian equities market extended its bearish run on Tuesday, August 18, 2026, as renewed profit-taking in large-cap stocks dragged the benchmark NGX All-Share Index (ASI) down 0.35%. The ASI closed at 241,611.23 points, down from 242,454.65 points recorded in the previous session, while market capitalisation fell by approximately N544.5 billion to N155.97 trillion from

  FMDQ Exchange recorded N426.51 trillion ($310.18 billion) in total market turnover between January and July 2026, driven by strong activity across foreign exchange transactions, Open Market Operations (OMO) Bills, fixed-income securities and other money market instruments. The figure was disclosed in the FMDQ Newsletter Edition 141 – July 2026, which highlighted the Exchange’s market

  The Nigerian Exchange (NGX) is having a breakout year in 2026, emerging as one of the best-performing stock markets globally as strong capital gains and impressive year-to-date returns attract growing interest from both foreign and domestic investors. The growth has also been reflected in the market capitalisation of listed companies, which has surged by

  The Economic and Financial Crimes Commission (EFCC) has recovered 2.3 million litres of Automotive Gas Oil (AGO), commonly known as diesel, valued at N4.485 billion, from Ibafon Oil and Gas in Lagos over an alleged case of stealing and criminal conversion. The recovery was carried out by the Lagos Zonal Directorate 1 of the

  Turnover on the Nigerian Foreign Exchange Market (NAFEM) rose sharply to $1.41 billion on August 17, 2026, marking the highest level recorded in five weeks as activity in the foreign exchange market rebounded. The latest figure was contained in data from the Central Bank of Nigeria (CBN). Checks by Nairametrics showed that the latest