The Naira is expected to trade near ₦1,350/$ by 2026 as economic indicators strengthen, analysts at Cordros Securities have projected. They gave the forecast in a new report titled 'Nigeria in 2026: Building Momentum Beyond the Rebound'. The report provides reviews of macroeconomic trends and market dynamics. It states that the naira is likely to …
President Bola Tinubu has presented the proposed 2026 Federal Budget, estimated at ₦58.18 trillion, on Friday, December 19, 2025. The president, who arrived at the National Assembly complex on Friday afternoon, presented the budget titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity” at a joint session of the National Assembly. Breakdown of 2026 Budget …
BudgIT Nigeria has raised concern over the revenue figure declared by the budget office and the disclosure made recently by the Minister of Finance and Coordinating Minister of Economy, Wale Edun. The civic organisation raised the alarm in a post on its X handle on Friday, December 19. It stated: “While the Budget Office @PlanningNG …
The number of Americans filing new applications for unemployment benefits fell last week, reversing the prior week’s surge. The Labour Department reported 224,000 initial claims for the week ending December 13, a decline of 13,000 from the previous week. Economists had expected 225,000 claims. Claims data have fluctuated in recent weeks due to seasonal adjustments …
The Nigerian House of Representatives has suspended discussion on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The decision to step down the documents was taken on Wednesday following a heated debate over how crude oil price benchmarks and revenue projections were calculated. The debate ensued in plenary immediately after James Faleke, …
Oil prices climbed more than 2% on Wednesday after U.S. President Donald Trump ordered a full blockade of sanctioned oil tankers operating in and out of Venezuela, triggering fresh concerns over supply disruptions. Brent crude futures rose $1.41, or 2.4%, to $60.33 a barrel by 10:18 GMT. U.S. West Texas Intermediate (WTI) gained $1.42, or …
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Monday reaffirmed the country's commitment to stabilising the economy and enabling sustainable, private-sector-led growth. He spoke on this at the US–Nigeria Executive Business Roundtable. He said Nigeria is committed to rules-based economic management, transparent markets, and predictable policy frameworks, against a backdrop of …
President Bola Ahmed Tinubu has urged Nigerians not to fear about the new tax regime set to begin next year, promising significant benefits for low-income earners, small businesses, and essential sectors. Speaking at the 8th Annual Senator Abiola Ajimobi Roundtable and the 76th posthumous birthday lecture of the late Oyo State governor at the University …
The Debt Management Office (DMO) has urged state governments to follow the Fiscal Responsibility Act and other borrowing laws. It warned that loans taken outside the legal framework could weaken fiscal stability at the sub-national level. The Director-General of the DMO, Ms. Patience Oniha, delivered the message on Tuesday in Abuja. She spoke at a …
An agricultural economist, Ikechi Agbugba, has suggested that farmers can reduce their dependence on pesticides by adopting certain approaches. He shared his perspective on this with Pinnacle Daily, while highlighting the potential negative impacts of high organochlorine pesticide (OCP) levels on soil health and food security. Agbugba, an associate professor of Agricultural Marketing in the …
