Category: Economy
Nigeria’s headline inflation slowed to 15.91 per cent in June 2026 — the first deceleration in five months — arriving just ahead of a closely watched interest-rate decision. The timing matters enormously for monetary policy. A cooling print strengthens the case for the Monetary Policy Committee to hold rates steady rather than tighten further, after […]
The naira weakened at the official foreign exchange market last week, closing at N1,381.70 to the US dollar — even as Nigeria’s external buffers strengthened to multi-year highs. Foreign reserves climbed to $51.74 billion, the strongest level in years, giving the Central Bank of Nigeria considerably more firepower to smooth volatility in the FX market […]
Nigeria’s solid minerals exports climbed to N354 billion in 2025 — roughly triple the N117.29 billion recorded in 2023 — extending a steep growth run for a sector long overshadowed by oil. Revenue flowing to the Federation Account told an even sharper story, rising past N70 billion, a 337.5 per cent increase on the N16 […]
S&P Dow Jones Indices has placed Nigeria on its 2027 Country Classification Watchlist for a potential upgrade from Standalone Market to Frontier Market status — a formal signal that the country’s capital market reforms are registering with one of the world’s leading index providers. In its assessment, S&P DJI noted that Nigeria’s regulatory environment has […]
The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted N6.961 trillion to the Federation Account between January and May, up from N5.583 trillion recorded through April — underlining the company’s central role in funding federal, state and local governments. Its monthly report summary for June also declared a profit of N905 billion for the month, […]
Nigeria’s food services industry is projected to nearly double in value over the next five years — from an estimated $11.09 billion in 2025 to $19.31 billion by 2030 — according to a new study by fintech company Moniepoint titled “What it Takes to Feed Nigeria Everyday.” The report forecasts average annual growth of 11.73 […]
The Central Bank of Nigeria ramped up its Open Market Operations dramatically in the first half of 2026, selling N18.79 trillion worth of OMO bills — a 313 per cent jump from the N8.79 trillion recorded over the same period in 2025. Repayments grew even faster. OMO maturities flowing back into the system reached N34.49 […]
The rising cost of living kept pressure on Nigerians through June, forcing both households and businesses to spend more on everyday needs, according to the Central Bank of Nigeria’s latest Inflation Expectations Survey. The survey — which tracks how firms and families perceive and anticipate price changes — found spending on essentials continuing to climb […]
The Nigerian equities market snapped back into positive territory as overall market capitalisation rose by N719 billion in a single session. The rebound extends what has been a remarkable run for Nigerian stocks, which Bloomberg recently ranked among the world’s best performing. Momentum has been supported by the reform story around the capital market — […]