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The announcement marked the Bank of Canada's fifth consecutive hold. Canada has experienced two quarters of negative growth, a circumstance some economists label a technical recession. The post Canada Central Bank Holds Key Interest Rate Steady As Economy Struggles appeared first...
Actress Ruth Kadiri has voiced her concerns about the escalating cost of living in Nigeria, noting that N5,000 now only covers the purchase of tomatoes and pepper. Her comments reflect the broader economic challenges facing many Nigerians today.
Data showed US consumer inflation surged to a fresh three-year high in May, hitting 4.2 per cent year-on-year. The post Stocks Slide As US Inflation Surges, US And Iran Trade Strikes appeared first on Channels Television.
The crucial Strait of Hormuz has been effectively shut since US and Israeli attacks on Iran in late February, blocking roughly a fifth of global oil supplies and rattling global markets. The post Hormuz Block Sparks ‘Never Seen Before’ Disruption — Shell CEO appeare...
US consumer inflation surged to a fresh three-year high in May, according to official data released Wednesday, as increased energy prices rippled through the world's largest economy. The post US Consumer Inflation Hits Fresh Three-Year High In May appeared first on Channels Telev...
Nigeria is among 27 nations banned from exporting domestic labor to a wealthy Gulf state. This exclusion raises concerns about the impact on labor markets and opportunities for Nigerians seeking work abroad.
The Naira to Dollar exchange rate on June 10, 2026, is reported at approximately ₦1,360.55 in the official market and ₦1,400–₦1,405 in the parallel market. This reflects ongoing challenges in Nigeria's currency valuation.
Investments in the blue economy are projected to increase Rivers State's Internally Generated Revenue (IGR) by 50%. The Economic and Market Research (EMR) recommends establishing a dedicated ministry for the blue economy and conducting an environmental audit.
The IMF reports that Nigeria's economic reforms have led to improved macroeconomic outcomes over the past three years. However, high poverty rates continue to pose challenges for many Nigerians.
IMF issued the advisory in its latest Article IV consultation report on Nigeria, noting that while rising crude oil prices could boost foreign exchange inflows into the country, it is capable of driving inflation higher. The post CBN may need to sterilise FX inflows from increase...
The Nigerian government has expressed its commitment to ongoing economic reforms following the IMF's 2026 Article IV Mission Concluding Statement. This dedication signals a positive direction for the country's economic policies.
As protests over Warri's disputed ward delineation disrupt oil facilities and threaten production, ex-militant leader Tompolo has called for restraint, dialogue and swift action by INEC to avert a deeper crisis in the Niger Delta. The post Tompolo calls for calm as Warri delineat...
Shell has outlined key strategies to enhance gas utilization in Nigeria, emphasizing the need for improved pipeline infrastructure. This initiative aims to transform gas from a policy goal into a viable energy source for industries.
China's inflation has stabilized in May, attributed to declining energy prices. This comes alongside a notable increase in imports and exports driven by demand for technology components and machinery.
The Nigerian naira showed stability against the US dollar on June 10, 2026, in both official and parallel markets. Market participants are closely observing liquidity conditions affecting foreign exchange.
Nigerian youth encounter significant obstacles in securing formal employment despite the country's industrious workforce. The official unemployment rate highlights the challenges they face in accessing job opportunities.
The IMF has raised concerns regarding the transparency of Nigeria's $5 billion agreement with the UAE. It advises the government to explore Eurobonds and maintain a tight monetary policy to address inflation issues affecting Nigerians.
The Nigerian government has expressed commitment to ongoing economic reforms following the IMF's positive assessment. Oyedele emphasized the importance of sustaining these reforms for future growth.
Ministers at the NBA-SBL Dinner expressed optimism about Nigeria's economic outlook. They highlighted ongoing significant economic and institutional reforms in the country.
The World Bank warns that climate change may push an additional 5.1 million Nigerians into poverty by 2035. It emphasizes the need for $94.6 billion investment in climate resilience to prevent a potential GDP shrinkage of 6.8% by 2050.
Nigeria has expressed support for OPEC's decision to maintain its current crude oil production framework. This comes as OPEC+ increases its production levels, indicating Nigeria's commitment to the cartel's strategies.
The Abuja Chamber of Commerce and Industry (ACCI) urges the suspension of the Senate-approved sugar tax, citing potential economic burdens on businesses and investments. They have also rescheduled the AGROMEQA Expo 2026 to November for broader stakeholder engagement.
The Lagos State Government is actively promoting investment opportunities in infrastructure and tourism to attract global capital. Governor Sanwo-Olu and Deputy Governor Hamzat are leading these efforts to position Lagos as Africa's top investment destination.
Lagos has been ranked as Nigeria's most competitive economy according to the latest Phillips Consulting State Performance Index. This highlights the state's pivotal role in driving the country's economic development.
Nigeria's trade surplus surged by 91% to N7.55 trillion in Q1 2026, up from N3.95 trillion in Q1 2025. This growth was fueled by a significant drop in imports and a slight increase in exports.
Nigeria's manufacturing sector experienced a significant decline in foreign investment, dropping 50.7% to $152 million in Q1 2026. This marks a stark decrease from $308.93 million in the previous quarter.
The proposed increase in excise duties on sugar-sweetened beverages (SSBs) could jeopardize 33% of Nigeria's manufacturing output and threaten 1.5 million jobs, according to the Manufacturers Association of Nigeria (MAN). The opposition to this tax is growing as it is seen as harmful to businesses.
The IMF has advised Nigeria to reject a proposed $5 billion loan from the UAE, citing concerns over national debt. Instead, it recommends the government implement increased taxes to address economic challenges faced by the country.
Nigeria's digital economy is growing rapidly, with electronic payment transactions exceeding N1 quadrillion in 2024. However, cybercrime poses a significant threat to this expansion, impacting businesses and government services.
Oil prices have dropped due to growing optimism about a diplomatic resolution between Iran and the US. This development could lead to lower fuel costs for Nigeria.