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The Nigerian naira showed stability against the US dollar on June 3, 2026, in both official and parallel markets. Traders are closely watching liquidity and foreign currency demand.
The Naira has strengthened to N1,385 per dollar in the parallel market, up from N1,395. This appreciation indicates a positive trend for the currency in the unofficial market.
Nigerian manufacturers have significantly increased their spending on alternative energy, reaching N1.34 trillion in 2025. This marks a 71.4% rise from N781.68 billion in 2023, driven by rising production costs.
Nigeria's electricity distribution companies collected 78.5% of billed energy, generating N196.13 billion from N246.43 billion. Despite a 6.02% increase in energy received, payments fell by N50.3 billion in March.
• 13% forecasts global recession amid rising geopolitical risks •92% anticipates increased AI adoption Emmanuel Addeh in Abuja The global economy has entered a period of heightened uncertainty, with an
NGX Group's CEO, Temi Popoola, has called for better integration of capital markets into Nigeria's monetary policy. He emphasized that capital market development is crucial for macroeconomic stability.
The African Development Bank has pointed out that private sector credit in Nigeria is only 9.4% of GDP, which is limiting business growth. This highlights the need for improved lending practices to boost economic development.
The Nigerian stock market experienced a decline of N479 billion due to profit-taking in PZ Cussons Nigeria Plc and other stocks. This downturn reflects broader market challenges amid investor sentiment shifts.
The Central Bank of Nigeria (CBN) is implementing regulations to stabilize the foreign exchange market amid ongoing challenges. Importers and exporters have expressed concerns over delays and procedures affecting their operations.
Nigerian families are increasingly finding that a single job is insufficient to meet their financial needs. Many are seeking additional sources of income to sustain their households amidst economic challenges.
The rising prices of cooking gas are significantly impacting the daily lives of Nigerians. There are calls for government intervention to address this growing crisis.
The cancellation of a $717 million loan by the World Bank has worsened Nigeria's power sector challenges. This decision highlights ongoing issues with electricity supply and necessary reforms.
The NGX index dipped 0.35% as profit-taking and sell-offs in major stocks led to a broad market decline. Discover the top losers and gainers.
The IMF advises governments to avoid costly subsidies and price controls in response to rising food inflation. Instead, it recommends targeted support for vulnerable households to mitigate the impact.
Nigerian ports face high clearing costs compared to those in Cotonou, Benin Republic, with significant savings for importers in the latter. Efforts are being made to enhance the competitiveness of Nigerian ports to attract more business.
Nigerian manufacturers invested N1.34 trillion in alternative energy in 2025, driven by economic reforms and rising costs. This shift reflects a response to the challenges faced in industrial performance.
Nigeria's top cement manufacturers reported a profit of N762.97 billion in the first quarter, despite high cement prices. Companies like Dangote Cement, Lafarge Africa, and BUA Cement are thriving in this challenging market.
The Nigerian stock market continues to decline, resulting in a loss of N478 billion in market capitalisation. This downturn has seen the market capitalisation drop from N158.697 trillion to N158.219 trillion.
Ecobank Group has launched the world’s first International Capital Market Association (ICMA) commercial bank-issued Nature Bond on the London Stock read more Ecobank issues Nature Bond on London Stock Exchange to protect Africa’s natural ecosystems
First Bank and the Federal Ministry of Housing are collaborating to provide low-interest mortgage loans at 9.75%. This initiative aims to enhance home ownership opportunities for Nigerians.
The persistent rise in fuel and diesel prices across the country is taking a heavy toll on schools and parents, with read more Parents, schools feel pinch as fuel prices surge
Nigeria has reportedly lost $600 million due to illegal shipping container sales over the past thirty years. This loss has significantly impacted the country's foreign exchange and customs revenue.
The OOUTH ARD President is advocating for a minimum monthly salary of N1 million for doctors in Nigeria. This demand highlights concerns over poor remuneration contributing to brain drain in the healthcare sector.
International football management is a notoriously cutthroat business. While many associations wait until a tournament concludes to dissect failure, some reach a boiling point far sooner. The post Coaches that were sacked during World Cup appeared first on Vanguard News.
The article highlights the increasing electricity consumption driven by AI and electric vehicles. This trend underscores the growing demand for power as a key indicator of economic growth.
Nigeria has the potential to drive economic growth by utilizing its pension and sovereign wealth funds, according to AfDB's Chief Economist. Prof. Kevin Urama emphasizes the importance of leveraging domestic institutional investors for development.
The attackers are suspected to be members of an oil bunkering cartel in Imo which has recorded multiple deadly oil explosions between 2022 and 2024. The post Gunmen invade Imo community, kill two security operatives, three others appeared first on Premium Times Nigeria.
He stated that the anti-graft agency invited him over alleged Naira abuse linked to activities at his son’s naming ceremony held in May. The post Naira Abuse: “I’ll honour EFCC invitation in September when Nigeria is peaceful” — Portable appeared first on Premium Times ...
He stated that the anti-graft agency invited him over alleged Naira abuse linked to activities at his son’s naming ceremony held in May. The post Naira Abuse: “I’ll honour EFCC invitation in September when Nigeria is peaceful” — Portable appeared first on Premium Times ...
Nigeria’s insurers have long been the awkward guests at Africa’sfinancial services table. They are always present, but rarely significant. With read more Nigeria insurance naira threshold and the fragile cover