India-Nigeria trade hits $9bn as firms deepen local production
By Yinka Kolawole India-Nigeria bilateral trade rose by 26 per cent to about $9 billion in 2025–26, from $7.13 billion recorded in 2024–25, as economic ties between both countries deepen beyond oil and commodities into manufacturing, healthcare, energy, technology and job creation. The Indian High Commissioner to Nigeria, Abishek Singh, disclosed that more than 200 Indian […]
Pension funds investment in FG securities rise 18.7% to N14.4trn
By Peter Egwuatu The Pension Fund’s investments in Federal Government (FG) Securities rose by 18.7% Year-on-Year, YoY, in the first quarter 2025, Q1’25 to N14.48 trillion from N12.20 trillion in the corresponding period of 2024, Q1’24. This was disclosed in the latest pension funds industry portfolio report from the National Pension Commission, PenCom, detailing activities […]
Digitisation across sectors key to unlocking Nigeria’s AI future — Microsoft, PwC, LBS
By Providence Ayanfeoluwa To fully harness the potential of Artificial Intelligence, AI, Nigeria must prioritise digitisation across sectors, generating a comprehensive dataset to drive innovation. This is one of the key findings from Microsoft’s new white paper, “AI in Nigeria”, commissioned by Microsoft and conducted by PwC and Lagos Business School (LBS). The report explores […]
Borno, Bayelsa, Taraba record highest rise in food inflation rate
…as inflation rate eases second consecutive month to 22.97% By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday, said Borno, Bayelsa and Taraba States recorded the highest year-on-year,YoY, rise in the rate of increase in prices of food commodities in May 2025. NBS disclosed this in its Consumer Price Index, CPI, Report for May […]
World Bank says FDI into developing countries now at lowest level since 2005
The World Bank urged for stronger global cooperation to help direct funding towards developing economies with the biggest investment gaps.
FG invests $50m in impact fund to boost MSMEs, job creation
By Yinka Kolawole The Federal Government, FG, has announced a $50 million investment in the Nigeria Wholesale Impact Investment Fund (WIIF), aimed at unlocking significant financing for micro, small, and medium enterprises (MSMEs) and generating jobs across priority sectors . The Federal Ministry of Finance stated this in a post on X, noting that the investment […]
We have not extended BDC recapitalisation deadline — CBN
By Babajide Komolafe The Central Bank of Nigeria (CBN) has debunked a news story in circulation suggesting that the Bank has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025. The CBN, through its Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi Ali, described the information as […]
No final decision on $5bn oil-backed loan from Saudi Aramco — FG
By Obas Esiedesa, Abuja The Federal Government, yesterday, said no final decision has been taken on the reported plan to obtain a $5 billion oil-backed loan from Saudi Arabia’s Aramco. The loan which is said to be part of the $21.5 billion borrowing plan submitted to the National Assembly last month by President Bola Tinubu, was not […]
NAICOM guidelines on cyber risk insurance, annuity, market conduct underway
By Rosemary Iwunze The National Insurance Commission, NAICOM, will soon release supplementary guidelines on annuity to forestall nonpayment of pension benefits to retirees. Vice Chairman, Publicity Sub-Committee of the Insurers Committee who is also Managing Director of NSIA Insurance, Mr. Moruf Apampa, disclosed this at a media briefing yesterday after the Insurers Committee meeting in Lagos. […]
Nigeria records N5.2trn trade surplus in Q1’25
By Elizabeth Adegbesan Nigeria recorded N5.17 trillion trade surplus in the first quarter of 2025 (Q1’25). This represents a 52 percent quarter-on-quarter (QoQ) rise when compared to N3.4 trillion recorded in Q4’24. On a year-on-year, YoY, basis, trade surplus grew by 17.5 percent from N4.4 trillion in Q1’24. The National Bureau of Statistics, NBS, disclosed this yesterday […]
How CBN’s policies aid Moody’s, other rating upgrades for Nigeria
Some feedbacks from global rating agencies about Nigeria’s economic status point to emerging improvements in the country’s macroeconomic indexes.
Lafarge sale: Court orders status quo as dispute moves to Appeal Court
Justice Lewis Allagoa issued the directive on Wednesday following a notice of appeal filed by Lafarge Africa challenging the court’s earlier ruling.
How CBN’s policies aid Moody’s, other rating upgrades for Nigeria
One of the major implications of the improved rating is that Nigeria may now be able to borrow at lower interest rates
SEC orders companies to honour unclaimed dividend requests
By Obas Esiedesa, Abuja The Securities and Exchange Commission, SEC, has directed all public companies and Registrars to stop treating unclaimed dividends older than 12 years as “statute-barred”—especially those dating from before the enactment of the Finance Act 2020. The Commission noted that the directive reaffirms the provisions of Section 60 of the Finance Act, which […]
RMDB secures $150m facility for shipyard upgrade
By Godwin Oritse The Regional Maritime Development Bank (RMDB) said it has secured a $150 million facility for upgrade and expansion of a major shipyard in Nigeria. The President and Chief Executive Officer of the Regional Maritime Development Bank (RMDB), Mr. Adeniran Aderogba, disclosed this, saying the fund will serve as a catalyst for the transformation […]
Effective coordination, implementation key to NATEP success – NECA
Says programme must align with ILO Conventions By Victor Ahiuma-Young The Nigeria Employers’ Consultative Association, NECA, has stated that only effective coordination and implementation can ensure the success of the Federal Government’s relaunched National Talent Export Programme (NATEP). As the umbrella body of employers in the country, NECA emphasized the need for NATEP to align with […]
