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 […]
AMCON cash recoveries rise 28% to N66.1bn — CBN
By Babajide Komolafe The Asset Management Corporation of Nigeria, AMCON, recorded a 27.87 per cent increase in cash recoveries to N66.12 billion in the first half of 2025, H1’25 from N51.71 billion at end-December 2024. The Central Bank of Nigeria, CBN disclosed this in its Financial Stability Report for H1’25 noting that the stronger recovery performance […]
Nigeria records 14% rise in exports to Africa
…As fuel tops export list By Emma Ujah, with agency reports Nigeria’s exports to Africa reached N4.82 trillion in the first half of 2025, up 14% year-on-year compared to N4.21 trillion in the first half of 2024. West Africa absorbed over 62% of Nigeria’s continental exports. Bashir Adewale Adeniyi, Comptroller General of the Nigeria Customs Service, […]
FG eyes N3trn savings as 14m farmers join cassava value chain
By Progress Godfrey The Federal Government has initiated measures to empower 14 million smallholder farmers as key drivers of the Cassava Bio-ethanol Value Chain Development Project, aiming to reduce fuel import costs and strengthen Nigeria’s bio-economy. This was disclosed by the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, in a statement signed by […]
CBN sets new ATM deployment policy
…Reduces resolution time of failed transactions By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has established New Minimum Standards for ATM Deployment, Operations, Maintenance, and Security. The apex bank said the new ratio contained in its circular titled, “Exposure of the Draft Guidelines on the Operations of Automated Teller Machines (ATMs) in […]
Stock market turns bearish on selloffs amid cautious sentiment
By Peter Egwuatu The Nigerian stock market closed Week on Week, WoW, last week in a negative territory as broad-based profit taking intensified across key sectors, outweighing buying interest and reversing the bullish trend of the previous weeks. Specifically, the Nigerian Exchange Limited, NGX, All Share Index, ASI, which represents the barometer of the stock market […]
