Manufacturers deepen local raw materials sourcing, up 11% in 3yrs
By Yinka Kolawole Nigeria’s manufacturing sector recorded a steady increase in the use of locally sourced raw materials between 2021 and 2024, with the share rising from 51.5 per cent in 2021 to 57.1 per cent in 2024, as foreign exchange pressures, naira depreciation and rising import costs pushed manufacturers towards domestic alternatives. Data from […]
UBA, NiDCOM deepen collaboration to unlock diaspora capital
United Bank for Africa (UBA) Plc, has reiterated its commitment towards building tangible economic bridges and strengthening diaspora-driven investment into Nigeria. UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, stated this while hosting representatives of the Nigerians in Diaspora Commission (NiDCOM) led by its Chairman/CEO, Hon. Abike Dabiri, at the bank’s UK office earlier in the […]
Nigeria’s financial reforms have strengthened shock resistance, investor confidence — CBN
By Babajide Komolafe Governor of the Central/ Bank/ of/ Nigeria (CBN), Mr./ Olayemi/ Cardoso, has said that Nigeria’s recent monetary and financial-sector reforms have built a stronger capacity to withstand external shocks and restored confidence in the economy. Speaking at the Africa/ Capital/ Forum in London on Tuesday on the sidelines of President/ Bola/ Ahmed/ Tinubu’s […]
Nigeria’s Balance of Payment falls 38% to $4.23bn in 2025
•Crude oil exports decline 14.41% to $31.54bn •Foreign portfolio investments down 48.3% to $8.04 •Current account surplus falls 26% By Babajide Komolafe, Economy Editor and Elizabeth Adegbesan Nigeria’s external sector faced significant headwinds in 2025, as the country’s overall Balance of Payments (BOP) surplus plummeted by 38.1 per cent to $4.23 billion, down from the $6.83 […]
Freight forwarders renew push for elimination of malpractices at ports
By Providence Ayanfeoluwa The National Association of Government Approved Freight Forwarders, NAGAFF has inaugurated a 16-member “Trade War Committee” to address systemic inefficiencies and exploitative practices affecting port users and logistics operators across Nigeria’s international trade ecosystem. Speaking at the inauguration, Founder of NAGAFF, Dr. Boniface Aniebonam, said that the action is in response to the […]
Gas supply falls 8.5% to 4.7 metric tonnes daily
By Mariam Eko The supply of Liquefied Petroleum Gas, LPG, also known as cooking gas declined by 8.5 percent, on a month-on-month, MoM basis to 4.7 metric tonnes per day in February 2026 from 5.1 metric tonnes per day in December 2025. This was contained in the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Factsheet […]
