CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
VAT revenue rises 34% to N6.4trn in 9 months
Nigeria’s revenue from Value Added Tax (VAT) and Company Income Tax (CIT) recorded strong growth in the first nine months of 2025, reflecting improved non-oil revenue performance and enhanced fiscal capacity.
US stocks cut losses after Trump announces steps to safeguard Hormuz Strait
US equities joined a global equity rout Tuesday due to surging oil prices, but cut their losses after President Donald Trump announced steps to safeguard commerce in the Strait of Hormuz.
VAT revenue rises 34% to N6.4 trn in 9 months
Revenue from Value Added Tax, VAT grew year-on-year (YoY) by 34 percent to N6.4 trillion in the first nine months of 2025 (9m’25) from N4.77 trillion in the corresponding period of 2026.
Uncertainty persists in 2026, diversify now — Comercio Partners urges investors
The firm gave the advice in its 2026 Macroeconomic Outlook, where it projected moderating inflation, gradual monetary easing and steady economic growth, but cautioned that risks remain elevated.
China’s trade bureau set to partner West Africa IMT summit
The Trade Development Bureau of China’s Ministry of Commerce (TDB) has been confirmed as a Strategic Country Partner (China) for the West Africa Industrialisation, Manufacturing and Trade (West Africa IMT) Summit and Exhibition 2026. This, according to organisers, reinforces a growing shift in Nigeria-China economic relations from expanding trade volumes to anchoring industrial production and long-term […]
MAN lauds UNIDO’s move to reposition Nigeria’s manufacturing sector
The Manufacturers Association of Nigeria (MAN) has commended the United Nations IndustrialDevelopment Organisation (UNIDO) for its efforts aimed at repositioning the manufacturing sector in Nigeria for sustained growth by adopting global best practices and methodologies. Director, Research and Economic Policy Division, MAN, Dr. Oluwasegun Osidipe, gave the commendation at the ‘MAN National Stakeholders Sensitisation Workshop of […]
Manufacturing’s share of capital inflows shrinks to 2.76%
…Despite 132% surge in total importation By Yinka Kolawole Capital inflows into Nigeria’s manufacturing sector suffered a sharp decline in the first nine months of 2025 (9M’25), even as overall capital importation into the country recorded a huge surge, figures from the National Bureau of Statistics (NBS) have shown. According to the data, capital importation into the […]
Depositors of defunct Heritage Bank appeal to Tinubu, CBN for bail out
By Florencemary Nwabueze Depositors of defunct Heritage Bank whose money were trapped in the bank have appealed to President Bola Tinubu and the Central Bank Governor, Olayemi Cardoso, to ensure a swift and full reimbursement of all depositors affected by the liquidation of the bank. They also called for immediate bailout funds to the Nigeria Deposit […]
Nigeria’s Net External Reserves rises 50.5% to $34.8bn- Cardoso
By Babajide Komolafe The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has disclosed that the nation’s Net External Reserves rose 50.5 per cent, year-on-year, to $34.8 billion in 2025 from $23.11 billion in 2024. In a statement from the apex bank, Cardoso said that the growth in external reserves reflects stronger external […]
FG begins implementation of Executive Order on oil, gas revenues
By Emma Ujah, Abuja Bureau Chief The Federal Government, FG, has commenced implementation of the Oil and Gas Revenues Executive Order 09. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosing this in a statement yesterday said a Technical Committee has been set up to ensure payment of the affected revenues into […]
