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Akwa Ibom has launched enhanced varieties of cassava aimed at increasing agricultural productivity. These new varieties promise high yields and improved disease resistance, benefiting local farmers.
Deposit Money Banks (DMBs) are increasing the limit that naira cardholders can spend abroad, following improved dollar liquidity in the read more Banks expand naira card limits abroad as FDIs, FX inflows rise
The current exchange rate for the Naira to the Dollar is approximately ₦137,325 for $100 at the official NFEM rate. This reflects ongoing market conditions as of June 3, 2026.
Nigeria has issued more than 127 million National Identification Numbers (NINs), making it one of Africa’s leading digital identity markets, read more 127m NINs later, Nigeria still faces digital identity usage gap
Nigeria’s 650,000 barrel per day (bpd) Dangote oil refinery currently has a large surplus of jet fuel and can supply read more Dangote refinery can be global jet fuel supplier, CEO says
Oil-bearing and impacted communities in the Niger Delta have called for an urgent end to gas flaring in Nigeria and read more Niger Delta communities demand ban on gas flaring
…as NUT, NLC protest over abductions in Maiduguri The North East Civil Society Network and Nigerian Union of Teachers (NUT), read more CSO, NUT berate Tinubu’s ‘regional bias’ over pupils’ abductions in Oyo, Borno
…As company empowers fresh batch of women entrepreneurs in A’Ibom, Rivers Sterling Oil Exploration and Energy Production Company Limited (SEEPCO) read more Sterling joins oil firms unhappy with misuse of empowerment packages by communities
The US has warned 60 nations, including Nigeria, of potential new tariffs for not addressing forced labor issues. This follows investigations into various trading partners regarding their labor practices.
EU member states are facing increasing deficits as development banks revise their growth forecasts downward. The EU executive plans to address public spending concerns in a forthcoming report.
Shettima has called on governors to expedite reforms to effectively utilize the $750 million World Bank program. He emphasized the importance of creating a conducive business environment to attract investment and boost economic growth.
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