By Progress Godfrey  Nigeria recorded a 91 per cent, year-on-year, YoY increase in trade surplus to N7.55 trillion in the first quarter of 2026, Q1’26 from N3.95 trillion in the same period of 2025, Q1’25,  driven by a sharp decline in imports and a modest rise in exports.   The National Bureau of Statistics (NBS) disclosed this yesterday in […]

By Yinka Kolawole  Foreign investment into Nigeria’s production and manufacturing sector declined sharply by 50.7 percent quarter-on-quarter to $152.27 million in the first quarter of 2026 (Q1’26), down from $308.93 million recorded in the preceding quarter (Q4’25), according to the latest Capital Importation Report released by the National Bureau of Statistics (NBS). The report revealed that […]

The Federal Government and six state governments have urged investors at the ongoing Invest in Lagos 3.0 Summit to channel funds into critical sectors, promising attractive returns and improved business conditions. The summit, themed “Lagos: The Business Gateway to Africa,” featured presentations from representatives of the Presidency and the governors of Lagos, Imo, Abia, Plateau, Taraba […]

United Bank for Africa (UBA) Plc, has been named the winner of the African category at the 2026 Banker Technology Awards, recognised for its innovations in digital payments, e-business, and the use of artificial intelligence to drive seamless cross-border banking across more than 20 African markets. In its assessment of UBA’s winning entry, The Banker noted […]

•Promote healthy consumption without harming businesses — ACCI By Yinka Kolawole & Progress Godfrey Opposition to the proposed increase in excise duties on sugar-sweetened beverages (SSBs) intensified yesterday as the Manufacturers Association of Nigeria (MAN) and the Abuja Chamber of Commerce and Industry (ACCI) warned of severe economic consequences. MAN cautioned that the proposed levy could […]

The agricultural sector comprising crop production, livestock, forestry, and fishing  recorded a 3.15 per cent, year-on-year growth in real Gross Domestic Product (GDP) to N11.87 trillion in the first quarter of 2026 (Q1’26) from N11.51 trillion in Q1’25.

•We processed N700bn payments to 1,240 local contractors – Ministry •We have not received any money – Contractors By Emma Ujah,  Abuja Bureau Chief & Progress Godfrey At the backdrop of a resumption of protests by contractors, the Minister of  Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has said it approved payments […]

By Peter Egwuatu  The Nigerian stock market reversed its upward trajectory last week with investors losing over N4.915 trillion of their investment listed on the Nigerian Exchange Limited, NGX.  The development was driven by a sustained profit-taking move across major sectors. Consequently, the NGX market capitalisation, which represents the total value of stocks listed on the […]

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 […]

By Etop Ekanem  Chief Executive Officer of Jumia Group, Francis Dufay, has offered a perspective that placed Nigeria not at the margins of risk, but at the centre of reform, growth and stability. Speaking during a panel on emerging markets, at the Sohn Conference in New York, Dufay described the period between 2021 and 2024 as […]

By Elizabeth Adegbesan Despite the moderation in inflation rate reported by the National Bureau of Statistics, NBS, the financial burden of feeding on Nigerian households may have intensified as the national average Cost of a Healthy Diet (CoHD) climbed to N1,541 per adult per in March 2026, about 4.4 per cent up from N1,477 in March […]

By Peter Egwuatu  Group Managing Director/CEO, Nigerian Exchange Group (NGX Group), Temi Popoola, has urged the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) to treat capital market development as a macroeconomic necessity, arguing that the effectiveness of monetary policy increasingly depends on the depth, liquidity, and coherence of Nigeria’s financial markets. Popoola made this […]

By Obas Esiedesa, Abuja The Federal Government has unveiled new guidelines for the safe and efficient interconnection of solar mini-grids to electricity distribution networks, aimed at accelerating renewable energy deployment and improving electricity access across Nigeria. Speaking at the launch in Abuja, the Managing Director of the Nigerian Electricity Management Services Agency (NEMSA) and Chief Electrical […]

•Food import share shrinks as total imports jump 28% By Babajide Komolafe Nigeria’s spending on food imports declined by 7.4 per cent, year-on-year to $2.34 billion in 2025, signaling a moderation in the country’s dependence on imported food products despite a  sharp increase in overall import expenditure. Data on food imports obtained from the Central Bank […]

By Efe Onodjae  The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dayo Mobereola, has reaffirmed Nigeria’s commitment to strengthening regional maritime integration, cooperation and capacity development across Africa. Mobereola made the pledge while receiving the Honorary Consul of Liberia in Lagos, Dapo Akinosun, at the NIMASA headquarters in Lagos. He described the engagement […]