Economy

The Federal Government has inaugurated a technical committee to evaluate a proposed $200 billion integrated gas, power and high-speed rail project submitted by De-Sadel Nigeria Limited. The development was disclosed in a statement issued on Thursday by the Office of the Secretary to the Government of the Federation (SGF), which said the committee has been […]

The Nigerian naira appreciated to N1,365 per dollar on Thursday, strengthening slightly from N1,369/$ recorded on Wednesday, according to data published on the Central Bank of Nigeria (CBN) website. The gain comes amid a broader decline in the U.S. dollar across global markets, as the greenback heads for its largest weekly loss since January. Analysts

Managing Director, Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku has  emphasised that airports are far more than transit points, but  strategic assets driving trade, tourism, employment, and economic integration. Kuku disclosed this on the sidelines of the Airports Council International (ACI) regional conference and exhibition in Luanda, Angola. She said :” The future of

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’s improving revenue performance is coming under renewed scrutiny after the World Bank warned that a significant portion of federation income is being absorbed by deductions before reaching federal, state, and local governments, raising concerns about fiscal sustainability. According to the Bank, more than 39 percent of total revenues generated in 2025—amounting to about N14.94

Nigerian crude oil and major global benchmarks plunged below $95 a barrel on Wednesday following Iran’s agreement to temporarily reopen the Strait of Hormuz, a strategic waterway that handles roughly 20% of the world’s energy supply, in exchange for a two-week ceasefire with the United States. Brent crude and West Texas Intermediate (WTI) also fell

The Central Bank of Nigeria (CBN) has outlined plans to recapitalise and restructure development finance institutions (DFIs) as part of efforts to address the country’s widening N130 trillion financing gap affecting micro, small, and medium enterprises (MSMEs). The disclosure was made by the CBN’s Deputy Governor for Economic Policy, Muhammad Sani Abdullahi, during a panel

In a significant development for Nigeria’s capital market, global index provider FTSE Russell has reclassified the country back to Frontier Market status, effective September 2026. The announcement, made in FTSE Russell’s latest Equity Country Classification Interim Review released on Tuesday, April 7, 2026, ends Nigeria’s stint on the Watch List and its previous “Unclassified” (Standalone)

Nigeria generated a total of about N161.1 trillion in revenue over a 15-year period, as the country’s fiscal structure gradually shifted away from oil dependence toward a stronger tax-driven system, according to a recent report. The analysis, which reviewed government earnings between 2010 and 2024, showed that oil and non-oil sources contributed almost equally to