FG’s crude export earnings dip 14% to $31.54bn in 2025 — CBN
By Ediri Ejoh The Federal Government’s (FG) crude oil export earnings fell 14.41 percent to $31.54 billion in 2025 from $36.85 billion recorded in the corresponding period of 2024. The drop was attributed to lower international crude oil prices arising from a global supply glut in the review period. The Central Bank of Nigeria, CBN, made […]
Indigenous companies can build institutions that compete with the very best – Marketsquare CEO
Ebele Enunwa, Marketsquare CEO, shares insights into the company’s decade-long journey, its contribution to Nigeria’s economic development…
Digital postcode to transform commerce, security, cut delivery costs — Tijani
By Progress Godfrey The Federal Government has said Nigeria’s Digital Alphanumeric Postcode System, scheduled for launch this year, will transform commerce, strengthen security and significantly reduce delivery costs nationwide. Speaking at the National Digital Alphanumeric Postcode System workshop in Abuja, Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, described the initiative as critical […]
TCN expresses concern over rising cases of vandalism in Niger State
By Obas Esiedesa, Abuja The Transmission Company of Nigeria (TCN) has raised concerns over increasing vandalism of power transmission infrastructure in parts of Niger State, warning that the trend poses serious economic, safety and electricity supply challenges. Speaking during a community engagement visit to Lambata in Gurara Local Government Area yesterday, the General Manager, Transmission, Abuja […]
Revenue from VAT, CIT falls 6% to N3.79trn in Q1’26
By Elizabeth Adegbesan Revenue generated from Value Added Tax, VAT, and Company Income Tax, CIT, fell year-on-year (YoY) by 6.2 percent to N3.79 trillion in the first quarter of 2026 (Q1’26) from N4.04 trillion in Q1’25. The National Bureau of Statistics, NBS, disclosed this in its report on VAT and CIT for Q1’26 , which showed […]
CBN orders fintechs, banks to localise payment data, caps market dominance
•Mandates beneficial ownership disclosure •Sets 25% threshold, 15% cross-market cap •Compliance deadline set for Dec. 31, 2026 By Babajide Komolafe The Central Bank of Nigeria, CBN, has directed banks, fintechs and other operators in the payments ecosystem to store all payment transaction data generated in Nigeria within the country, while also introducing measures to curb […]
FirstBank hits N1bn daily disbursement on FirstAdvance
FirstBank Nigeria yesterday announced that FirstAdvance, its flagship salary backed digital loan product, has hit a milestone of N1 billion daily disbursement. The bank, in a statement, said that the feat underscores its commitment to delivering innovative, accessible, technology-driven financial service solutions to its customers. “FirstAdvance is a convenient loan offering for salary earners, that enables […]
Cardoso launches Nigerian Overnight Financing Rate
•Provides benchmark for pricing loans, deposits By Emma Ujah, Abuja Bureau Chief The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday, launched the Nigerian Overnight Financing Rate (NOFR), to guarantee greater transparency in the financial market. The NOFR is a daily benchmark interest rate introduced by the CBN in collaboration with […]
Headline inflation rate in 3rd consecutive month rise, hits 15.93%
By Progress Godfrey Nigeria’s headline inflation rate has gone up again, the third consecutive month, in May 2026, hitting 15.93 percent. The National Bureau of Statistics, NBS, announced the increase in its latest consumer price index (CPI) report released yesterday. The report stated: “On a year-on-year basis, the Headline inflation rate rose to 15.93%, up […]
3 years of Tinubu: Manufacturers yet to see policies translate into industrial growth — MAN
From intervention funds and industrial roadmaps to fiscal reforms, local content policies and foreign exchange restructuring, the administration has introduced several initiatives
Oil Revenue: Low production undermines benefits of high crude oil prices
Nigeria lost an estimated $839.22m in oil revenue in the first four months of 2026 after failing to meet its 1.5m barrels per day OPEC quota
Food industry on brink as rising costs, forex crisis trigger mass layoffs
“Smaller package sizes remain the preferred choice for many consumers whose purchasing power has been severely eroded”
IMF, economists disagree over Nigeria’s economic prescriptions
Nigeria’s leading economists and financial experts have disagreed with some of the latest policy prescriptions by the International Monetary Fund, IMF, for Nigeria
MTN Nigeria committed to transparency, consumer education — CEO
By Peter Egwuatu MTN Nigeria, MTNN Plc, has expressed its commitment to transparency and consumer education in its drive to strengthen trust, and promote greater digital literacy as data continues to play a central role in everyday life. Dr Karl Toriola, Chief Executive Officer, MTNN, stated this at its public engagement platform code-named Data on Trial […]
NNPCL, security agencies intensify crackdown on pipeline vandals
By Udeme Akpan & Obas Esiedesa The Nigerian National Petroleum Company Limited (NNPC Ltd.) and security agencies have intensified efforts to combat pipeline vandalism following the discovery of a damaged section of the Nigerian Pipelines and Storage Company (NPSC) crude oil pipeline at Pai Community, Kwali Area Council of the Federal Capital Territory (FCT), Abuja. The […]
Cardoso receives Central Bank of the Year Award
By Elizabeth Adegbesan The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has received the Central Bank of the Year Award at the Central Banking Awards ceremony held in London recently. Accepting the Award Cardoso expressed appreciation to Central Banking Publications and the award judges for the recognition. He dedicated the honour to […]
