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Muslims in Ilorin are turning to credit and loans to afford Eid rams due to rising prices and inflation. This trend reflects the financial hardships faced by many under the Tinubu administration.
Oil prices have dropped to $94.61 due to renewed optimism surrounding US-Iran negotiations. This development may have implications for global markets and Nigeria's oil sector.
Kaduna State is exploring strategies to revive its once-thriving textile manufacturing industry. The initiative aims to restore economic vitality and create job opportunities in the region.
Nigerians are worried about the skyrocketing prices of rams and cows ahead of Eid-el-Kabir, with rams reaching N800,000 and cows N3.2 million. Many families may cut back on spending or forgo purchasing sacrificial animals this year.
Lagos State has launched the Skill Up Lagos Initiative to support 1,000 creatives, aiming to enhance economic development. This initiative is expected to boost the local economy by empowering individuals in the creative sector.
The Rural Electrification Agency's mini-grid initiatives are pivotal in advancing Nigeria's economic goals. These solutions are transforming social welfare into a key element for industrialization and economic growth.
The Nigerian Naira remained stable against the British Pound Sterling in the foreign exchange market. This steady performance reflects low volatility in trading activities.
The Nigerian Naira showed stability against the US Dollar in both official and parallel markets on May 27, 2026. This trend reflects a consistent exchange rate performance in recent times.
The Nigeria Customs Service seized over N908 million worth of smuggled rice in the first quarter of 2026. This highlights ongoing challenges in combating rice smuggling in the country.
Senator Adolphus Wabara praised Governor Alex Otti for the seaport development project in Abia. He believes this initiative will transform the state into a significant trade hub.
BusinessDay has released its May 27, 2026 edition, focusing on key insights into economic trends. The publication aims to inform readers about the current economic landscape in Nigeria.
Vegetable and edible oil producers are worried about the overwhelming presence of imported brands in Nigeria, undermining local investments. They warn that the government's current policy is failing to protect domestic producers.
Nigerian manufacturers are calling for urgent reforms in power and taxation to boost factory production and competitiveness. With alternative power costs nearing N1.4 trillion by 2025, these changes are deemed essential for growth.
“For over two months now, this (fire) station has not received even a drop of diesel,” an official said on condition of anonymity because he was not authorised to speak publicly on the incident. The post SPECIAL REPORT: Day Akwa Ibom market burned because a fire truck had no ...
Financial institutions in Nigeria achieved an impressive 8.5% GDP growth, reaching N1.93 trillion in Q1 2026. This marks a significant increase from N1.78 trillion in the same quarter last year.
Rising cattle prices are causing financial strain for livestock traders in Northern Nigeria, impacting Eid commerce. Security concerns further complicate the situation for traders in Borno state.
The Nigeria Deposit Insurance Corporation (NDIC) has pledged to enhance its Deposit Insurance Funds to ensure financial stability. This commitment aims to bolster the resilience of Nigeria's financial system.
Government credit has surged by 65.6% year-on-year, reaching N39.6 trillion as of April 2026. This increase is attributed to heightened borrowing to support financing needs.
At the Commonwealth Institute Universities Leaders Conference held recently in Lagos, university administrators, financial experts and education strategists explored practical ways institutions can diversify revenue sources, strengthen alumni engagement, commercialise
The Naira has depreciated to N1,405 against the dollar in the parallel market, down from N1,380. This decline reflects ongoing challenges in Nigeria's currency stability.
Oil prices have surged due to rising tensions between the US and Iran, following recent military strikes. This escalation raises concerns about global energy supplies and trade routes, particularly through the Strait of Hormuz.
Nume Ekeghe Data from the Financial Markets Dealers Association (FMDA) has showed that average system liquidity declined by 17.68 per cent to N4.40 trillion last week, as the Central Bank
Kayode Tokede Despite regulatory costs and high inflation that remain key drivers of growth in operating expenses, Guaranty Trust Holdings Company Plc (GTCO), recorded the lowest Cost-to-Income Ratio (CIR) in the
The Nigerian Institute of Social and Economic Research (NISER) has presented its latest outlook for the Nigerian economy for the period 2026–2028 at the NISER Research Seminar Series (NRSS) held
Kayode Tokede Fidelity Bank Plc recorded N434.95 billion gross earnings in first quarter (Q1) 2026 as the international commercial bank continued to expand its core banking market share. The unaudited
The conflict over Dangote Refinery highlights significant issues within Nigeria's economic framework. This situation underscores the importance of resolving business disputes for the nation's economic prospects.
FCMB Group Plc highlights the increasing economic significance of the Ojude Oba Festival in Nigeria. The festival is seen as a driver for tourism, enterprise, and creative opportunities.
PETROAN credits the recent reduction in diesel prices to heightened competition in Nigeria's downstream petroleum sector. This development is seen as a positive outcome for consumers.
Global food prices have increased by 5% due to the closure of the Strait of Hormuz, reaching new highs for 2024. This surge raises concerns about food security and inflation worldwide.
Champion Breweries Plc has held its landmark 50th Annual General Meeting (AGM), where shareholders commended the Board and Management for delivering strong financial growth, improved profitability, successful capital market execution,