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The Central Bank of Nigeria (CBN) has authorised importers to temporarily use expired National Agency for Food and Drug Administration and Control (NAFDAC) licenses for import documentation, the apex bank announced on Tuesday. According to a circular issued on January 26, 2026, by the CBN’s Trade and Exchange Department and published on the bank’s website,…
The Nigerian naira extended its recent rally at the official foreign exchange market, trading near ₦1,400 against the US dollar during midweek sessions on the Nigerian Foreign Exchange Market (NFEM). Figures released by the Central Bank of Nigeria (CBN) showed that the local currency gained 1.26 per cent on Tuesday, with the dollar quoted at…
President Bola Ahmed Tinubu on Monday left Abuja for a state visit to the Republic of Türkiye, as Nigeria moves to deepen diplomatic, economic and strategic ties with the country. The trip was disclosed by the Special Adviser to the President on Social Media, Dada Olusegun, in a post on X, where he outlined the…
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole has revealed that the Nigerian economy has recorded growth above four per cent while inflation has sharply declined. Speaking to CNN on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Oduwole attributed the gains to ongoing economic reforms, renewed investor confidence, and strengthened…
Nigeria is positioned to record higher revenues from liquefied natural gas (LNG) from 2026, as a wave of new global supply reshapes the market and eases the tight conditions triggered by the 2022 Russia-Ukraine war. Analysts say the shift could unlock stronger demand from major Asian buyers, notably China and India, even as prices moderate….
The National Economic Council (NEC) is set to meet with the Presidential Fiscal Policy and Tax Reforms Committee, led by Taiwo Oyedele, to address concerns surrounding Nigeria’s new tax laws. This move aims to clarify and implement the tax reforms effectively, promoting economic growth and fairness. – Exemptions for Low-Income Earners: Individuals earning below N800,000…
The Dangote Refinery has significantly increased Nigeria’s domestic petrol supply by 64% to 32 million litres per day in December 2025, up from 19.5 million litres in November. This surge has led to a 19% decline in fuel imports, which fell to 42.2 million litres daily. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)…
Nigerian celebrities Davido and Peller are counting their losses after placing big bets on Nigeria’s AFCON semi-final match against Morocco. Davido staked a whopping $50,000 on Nigeria to win, while Peller bet $3,000 on the Super Eagles to triumph within 90 minutes. Unfortunately, Morocco won 4-2 on penalties, leaving both celebrities out of pocket. Peller…
The Federal Government of Nigeria announces that the country has been removed from the European Union’s list of high-risk third countries, marking a significant achievement in Nigeria’s economic reform agenda. This development, confirmed by the Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, underscores Nigeria’s commitment to strengthening its anti-money laundering…
Nigeria’s inflation rate dropped to 15.15% in December 2025, a significant decrease from 34.80% in December 2024. The National Bureau of Statistics (NBS) attributes this decline to a methodological review and rebasing of the Consumer Price Index (CPI). Key Highlights: – Food Inflation: Dropped to 10.84% year-on-year, with prices of staples like tomatoes, garri, eggs,…