Category: Economy

Former Vice President and African Democratic Congress presidential candidate Atiku Abubakar has urged President Bola Tinubu to focus on the record of his administration rather than on political confrontation. Speaking through his senior special assistant on public communication, Phrank Shaibu, Atiku responded to the President’s declaration that he would wrestle his opponents to the finish, […]

World Trade Organisation director-general Ngozi Okonjo-Iweala has urged African governments to invest boldly in artificial intelligence, renewable energy and critical mineral value chains, warning that the continent risks being left behind in a technology-driven global economy. Speaking at the 7th Africa Emerging Markets Forum in Abuja, held under the theme “Building Resilience Amidst Geoeconomic Uncertainties”, […]

The Federal Government has rejected claims that it borrowed ₦80 trillion over three years, attributing much of the rise in reported debt to currency revaluation and accounting changes rather than fresh borrowing. Finance Minister and Coordinating Minister of the Economy Wale Edun said the administration inherited about ₦75 trillion in debt. Revaluation of foreign currency […]

The Federal Government says Africa’s route to food self-sufficiency and economic prosperity depends on deliberate investment in agricultural science, technology and cross-border innovation. Speaking at the opening of the 9th Africa Agriculture Science Week and the 10th General Assembly of the Forum for Agricultural Research in Africa in Abuja, Minister of Agriculture and Food Security […]

Banking system liquidity fell 18.4 per cent week-on-week to ₦3.78 trillion, down from ₦4.63 trillion, after a combination of Central Bank of Nigeria cash reserve ratio debits, a private open market operations auction and a Debt Management Office bond sale that allocated ₦929.32 billion drained cash from the system. Dealers expect roughly ₦2.56 trillion in […]

Nigeria is forfeiting jobs and scarce foreign exchange because the rules governing fish imports keep shifting, according to Dr Olukayode Olubiyi, Chief Lecturer at the Federal College of Fisheries and Marine Technology in Lagos. His central objection is that import permits are issued for species Nigerian farmers already raise successfully, among them tilapia, catfish and […]

Persistent narcotics trafficking through Nigerian seaports risks damaging the country reputation as a trading partner, according to a July 2026 policy bulletin from the Sea Empowerment and Research Centre (SEREC). The commercial danger the report identifies is reputational contagion. If destination countries come to associate Nigerian-origin cargo with narcotics risk, they respond with stricter inspection […]

The Central Bank of Nigeria is widely expected to leave its Monetary Policy Rate unchanged at 26.50 per cent as the Monetary Policy Committee concludes a two-day meeting chaired by Governor Yemi Cardoso. The case for holding rests on a set of indicators pointing in the same direction. Headline inflation eased marginally to 15.91 per […]

Nigeria and Hong Kong have signed a treaty eliminating double taxation between the two jurisdictions — removing one of the most persistent structural deterrents to cross-border trade and investment. Double taxation agreements prevent companies and individuals from being taxed twice on the same income — once where it is earned and again where the earner […]