Economy

The Nigerian Exchange (NGX) ETF segment recorded a broad-based downturn in the week ended April 24, 2026, as all listed Exchange Traded Funds (ETFs) closed in negative territory, reflecting weak investor sentiment and sustained sell pressure across the market. Data from NGX trading activity showed that despite an increase in total trading volume, the overall […]

Nigeria’s defence expenditure recorded a sharp increase in 2025, rising by 55% year-on-year to $2.1 billion, as worsening security challenges across the country drove higher military spending, according to a report by the Stockholm International Peace Research Institute. The report ranks Nigeria among the fastest-growing military spenders globally, underscoring how internal security pressures are reshaping

The Nigerian Exchange Limited has levied a total of N562.6 million in penalties on 32 listed companies for failing to meet deadlines for submitting audited and unaudited financial statements during the 2024/2025 financial year. The sanctions were disclosed in the latest X-Compliance Report released on April 24, 2026, by NGX Regulation Limited, highlighting cumulative penalties

Nigeria’s external reserves declined by approximately $731 million within the first three weeks of April 2026, highlighting sustained pressure on the country’s foreign exchange buffers. Data from the Central Bank of Nigeria shows reserves fell from $49.18 billion on April 1 to $48.45 billion as of April 23, representing an average weekly decline of about

CBN Removes Charges on Key Banking Services in New Consumer-Focused Reforms The Central Bank of Nigeria (CBN) has announced the removal of charges on several routine banking services as part of a sweeping reform aimed at reducing costs and promoting financial inclusion. The new policy, contained in the revised Guide to Charges by Banks and

The Federal Government has expressed its intention to draw lessons from Indonesia’s rise to a $1.4 trillion economy as Nigeria pursues its own goal of becoming a $1 trillion economy under the administration of President Bola Tinubu. This was disclosed in a statement by the Ministry of Budget and Economic Planning following a courtesy visit

Nigeria is estimated to be losing about N428 billion annually to illicit trade in spirits and wines, according to the Director-General of the Spirits and Wines Association of Nigeria, Tony Okwoju. The disclosure, reported by the News Agency of Nigeria, was made at the conclusion of a stakeholders’ workshop on combating illicit alcohol trade held

The National Agency for Food and Drug Administration and Control has uncovered and shut down two illegal factories involved in the production of counterfeit and adulterated alcoholic beverages in Lagos State, seizing products valued at approximately N350 million. The enforcement action, disclosed in a statement by the agency, followed intelligence-led operations carried out across major

Food prices in Nigeria have remained elevated despite significant government interventions and a surge in food imports valued at N7.65 trillion in 2025, raising concerns about the effectiveness of policy measures aimed at easing the cost-of-living burden on households. Insights from economic and development experts, supported by official data, suggest a growing disconnect between fiscal

President Bola Ahmed Tinubu has stated that the resolution of outstanding financial obligations to international airlines by the Central Bank of Nigeria marks a significant step toward strengthening Nigeria’s aviation and economic ties with the United Kingdom, particularly with British Airways. This was disclosed in a statement issued by presidential spokesperson Bayo Onanuga following a