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The naira experienced a slight depreciation against the dollar in May 2026, despite a rise in foreign exchange reserves. This decline in trading activity indicates a contraction in foreign exchange transactions during the month.
Dangote Refinery has decreased its petrol gantry price by N25, bringing it down to N1,250 per litre. This adjustment is seen positively by traders in the market.
Dangote Refinery has lowered the price of petrol to N1,250 per litre, down from N1,275. This represents a two percent decrease, benefiting consumers.
Nigerian governors are evaluating a proposal to set the national minimum wage at N100,000 to alleviate economic challenges. This consideration reflects ongoing efforts to improve the financial situation for workers in the country.
Nigeria's Ambassador to the UN, Jimoh Ibrahim, has expressed support for a trade-focused economic partnership with the U.S. under President Bola Tinubu's administration. This initiative aims to enhance economic growth through increased trade relations.
Dangote Refinery reduces petrol gantry price from N1,275 to N1,250 per litre, responding to global crude oil price declines.
African economies are grappling with trade deficits, rising interest rates, and the need for wealth redistribution. These challenges are exacerbated by geopolitical tensions and persistent inflation risks.
Akinwumi Adesina has been appointed as the chairman of Botswana's Diamonds for Development Fund. This role aligns with Botswana's efforts to diversify its economy.
Petrol prices in Nigeria have surged to an average of ₦1,532 per litre, marking a 23.69% increase from ₦1,239.33 in the same period last year. This rise reflects ongoing challenges in the country's fuel sector.
A windstorm in Obi LGA, Benue State, has tragically claimed the life of a businesswoman and caused extensive damage to homes and infrastructure. Residents are mourning their losses as the community grapples with the aftermath of this natural disaster.
President Tinubu is pleased that Nigerian states are now able to pay salaries without needing federal assistance. He highlights this as a sign of economic recovery in the country.
Nigeria's stock market valuation has surged to N160 trillion, a significant increase from N30 trillion three years ago. This growth is attributed to the reforms implemented by President Tinubu.
GABI is intensifying its Digital and Health Action Pathways to drive economic transformation in Africa. This initiative aims to enhance digital and health sectors across the continent.
The article discusses the economic challenges women face in capturing value in various sectors. It highlights the need for greater inclusion of women in economic opportunities to ensure equitable benefits.
Petrol prices have surged to N1,532, reflecting a significant increase in fuel costs. Additionally, food inflation continues to rise, impacting the overall cost of living in Nigeria.
ECOWAS is enhancing regional trade initiatives to improve economic integration and encourage private sector involvement. Dangote is advocating for the launch of a Business Council to support these efforts.
The Central Bank of Nigeria, led by Governor Olayemi Cardoso, emphasizes data-driven monetary policy decisions. This approach aims to enhance the effectiveness of economic strategies.
Ogun State is successfully attracting both local and international investments, thanks to reforms by Governor Dapo Abiodun. This initiative is creating a more investor-friendly environment in the region.
The Central Bank of Nigeria (CBN) projects that food imports will cost $2.34 billion in 2025. This highlights Nigeria's ongoing reliance on imported food despite efforts to boost local production.
The CBN has extended the deadline for PoS geo-fencing compliance to August 1, 2026, giving financial institutions more time to meet the new requirements.
President Tinubu stated that the removal of fuel subsidies has prevented Nigeria from facing bankruptcy and has helped stabilize the economy. He pledged to continue implementing policies that prioritize the welfare of Nigerians.
President Tinubu asserts that the removal of fuel subsidies has averted Nigeria's bankruptcy and spurred economic recovery. Governors have praised this significant reform initiative.
President Bola Tinubu stated that the removal of fuel subsidies has prevented Nigeria from facing bankruptcy. He believes this decision is crucial for the gradual recovery of the nation's economy.
The Central Bank of Nigeria has significantly increased the geo-fence radius for Point-of-Sale terminals by 600%. This change is set to take effect on August 1, aiming to enhance payment accessibility across the country.
In its circular on Friday, the CBN also directed all affected institutions to provide evidence of compliance ahead of the new enforcement deadline, 31 July. The post CBN extends PoS geo-fencing metre, compliance deadline appeared first on Premium Times Nigeria.
The Central Bank of Nigeria has extended the PoS geo-fencing enforcement deadline to August 1, 2026, giving institutions more time to comply.
Nigeria's manufacturing sector experienced significant growth of 3.29% in the first quarter of 2026, a notable increase from 1.69% in the same period last year. This growth is attributed to recent reforms aimed at boosting the sector's performance.
For decades, achieving economic independence in Nigeria has been limited by a fundamental deficit: access to reliable electricity. In rural read more Tinubu @ 3: How REA’s mini-grid solutions are driving Nigeria’s $1trn economy target
Until Nigeria begins to treat human development as infrastructure with the same seriousness we reserve for roads, oil, and finance, our talent-scarcity debate will keep repeating itself. Not because Nigerians lack potential, but because potential without systems rarely scales. Wh...
Nigerian markets are experiencing a positive shift as oil prices decline, fueled by optimism surrounding a potential US-Iran peace agreement. This has led to a rise in major stock indices, indicating a recovery from earlier sluggishness.