Nigeria recorded a sharp improvement in its foreign trade position in the first quarter of 2026 as exports increased and imports fell significantly. This helped it to post a 341 per cent merchandise trade surplus of ₦7.55 trillion, according to the report by the National Bureau of Statistics (NBS). In its Foreign Trade in Goods Statistics …
The Nigeria Consumer Credit Corporation (CREDICORP) says it has facilitated ₦43.25 billion in consumer credit across the country while maintaining a zero non-performing loan record. In its latest newsletter, the corporation said the credit expansion was delivered through 35 participating financial institutions and has reached over 230,000 beneficiaries nationwide. According to the report, women account …
The Group Chief Executive of FCMB Group, Mr. Ladi Balogun, has described the Ojude Oba Festival as more than a cultural celebration, saying it has evolved into a major platform for economic activity, tourism promotion and community development in Ijebuland. Balogun stated this in a goodwill message at the 2026 Ojude Oba Festival held in …
Nigeria's fiscal position remains under severe pressure despite improved non-oil revenue performance, with debt servicing consuming 44.3 per cent of federal government revenue in the third quarter of 2025. The Alliance for Economic Research and Ethics raised the concern in its assessment of the Federal Government's 2025 third-quarter budget implementation report, released recently — eight …
President Bola Tinubu's administration entered the third quarter of 2025 with a promise to stabilise the economy, boost growth and invest heavily in infrastructure. On the surface, some of the numbers appear encouraging. Economic growth strengthened, inflation slowed sharply, and non-oil revenue collections exceeded expectations. Beneath those positive indicators, however, the government's budget implementation report …
Nigeria is positioning itself to secure cheaper financing and potentially refinance costly existing debt the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said. This is as improving market conditions and growing investor interest create new opportunities for the country, he stressed. Speaking in an interview with Bloomberg recently, Oyedele explained …
Nigeria recorded a remarkable surge in capital importation in the first quarter of 2026, attracting $10.37 billion in foreign inflows. The National Bureau of Statistics (NBS) revealed this in its latest Capital Importation Report released on Wednesday. An analysis of the report shows that capital importation increased by 83.83 per cent from the $5.64 billion …
Across Africa, water is no longer just an environmental concern but has become a hard economic constraint with measurable consequences for growth, productivity, and human development. New consolidated estimates from the United Nations, the African Union, the World Bank, and the UN Economic Commission for Africa show that achieving universal access to safe drinking water …
The Federal Government may lose close to $1 million in customs duties and taxes if the planned disposal of more than 2,500 empty shipping containers by Grimaldi Nigeria proceeds without compliance with existing customs regulations, a maritime industry expert has warned. Speaking during an interactive session with members of the Shipping Correspondents Association of Nigeria …
The Central Bank of Nigeria (CBN) on Monday unveiled the Nigerian Payment System Vision 2028 (PSV 2028), a strategic framework designed to transform the country's digital payments landscape, as top officials made clear that the real test of the vision lies not in its ambition but in its delivery. Speaking at the launch held at …
