Economy exits contraction but households remain pessimistic — CBN
•As PMI rebounds to 50.1pts •Business confidence moderates to 7.2pts •Households shun houses, cars, investments •Food remains top spending priority By Babajide Komolafe Nigeria’s economy exited contraction in June as the Purchasing Managers’ Index, PMI, rebounded to 50.1 points from 49.6 points in May, driven by sustained expansion in the agriculture sector despite continued weakness […]
NSC protects N90.6bn, $1.348m for Nigerian shippers
By Efe Onodjae The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Dr. Akutah Pius, says the Council protects over N90.60 billion and $1.348 million in economic value for Nigerian shippers through regulatory interventions and dispute resolution. Speaking through a representative at a media engagement with maritime editors and reporters in Lagos, […]
Blue economy: FG calls for state, private sector collaboration
By Providence Ayanfeoluwa The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has called for synergy between the Federal and state governments, private sector and development partners to accelerate the implementation of Nigeria’s National Policy on Marine and Blue Economy, describing sub-national participation as critical to unlocking the sector’s vast economic potential. Oyetola said […]
Stock market sustains loss position as profit-taking wipes out N1.8trn
•Adonri projects monetary tightening in H2’26 By Peter Egwuatu The Nigerian stock market closed lower again last week, making it the third consecutive week decline, pressured by profit-taking in blue-chip stocks. However, the latest loss amounting to 1.8 trillion indicates that the negative position is moderating. Three weeks ago the market took a major hit at […]
Stockbrokers clarify FTSE Russell’s concerns on Nigeria’s T+1 settlement cycle
By Peter Egwuatu The Chartered Institute of Stockbrokers (CIS) has described FTSE Russell’s decision to defer Nigeria’s planned reclassification to Frontier Market status as a temporary review process rather than a reversal of the country’s capital market reforms, stressing that Nigeria’s newly adopted T+1 settlement cycle remains a landmark achievement capable of strengthening investor confidence and […]
Nigeria’s challenge is low revenue, not high debt – World Bank
The World Bank has said Nigeria’s biggest fiscal challenge is weak revenue mobilisation rather than excessive borrowing, urging the government to prioritise efforts to boost revenue generation to support sustainable economic growth. Speaking during an interview on Channels Television on Friday, the World Bank Country Director for Nigeria, Mathew Verghis, said Nigeria’s debt profile remains […]
