Nigeria’s Gross Domestic Product (GDP) reached a four-year high growth in the second quarter (April-June) of 2025, indicating the strongest economic growth since mid-2021. This growth was primarily driven by performance in the oil and gas industry, which has traditionally been the backbone of the Nigerian economy. The latest GDP report released by the National …
The Central Bank of Nigeria (CBN) has introduced a 75 per cent cash reserve ratio (CRR) on non-Treasury Single Account (TSA) public sector deposits to improve liquidity management. The Governor of CBN, Olayemi Cardoso, revealed this during his briefing on the outcome of the Monetary Policy Committee (MPC) meeting on Tuesday, September 23. He further …
The Manufacturers Association of Nigeria (MAN) has raised significant concerns over the potential introduction of a tax stamp system for excisable goods, warning that such a move could undermine the government’s recent tax reforms and place an additional financial burden on local industries. While the association acknowledges the government's efforts to modernise tax administration through …
Nigeria’s gross external reserves expanded by $1.03 billion in the last 30 days, according to data from the Central Bank of Nigeria (CBN). This represents a 2.51 per cent increase to $42.03 billion as of September 19 from $41 billion as of August 19. A review of the CBN data shows that this is the …
Nigeria's foreign exchange reserves have reached a significant milestone, hitting $43.03 billion as of September 25, 2025—the highest level in six years. This was disclosed by the central bank governor, Yemi Cardoso, at the end of the Monetary Policy Committee meeting today in Abuja. This marks a substantial recovery from the low of $37.18 billion …
The Central Bank of Nigeria (CBN) has announced a reduction in the Monetary Policy Rate (MPR) by 50 basis points, bringing the rate down to 27%. This decision was made at the conclusion of the CBN’s Monetary Policy Committee (MPC) meeting, where all 12 members of the committee were in attendance. In addition to the …
The Northern Elders Forum (NEF) has declared that northern Nigeria can no longer remain a “sleeping giant”, as it unveiled plans for an investment and industrialisation summit to revive the region’s economy, harness its vast natural resources, and tackle insecurity and unemployment. Speaking on Tuesday during Channels Television’s Morning Brief, NEF spokesperson Professor Abubakar Jiddere …
Nigeria’s Gross Domestic Product (GDP) grew by 4.23 per cent on a year-on-year basis in real terms in the second quarter (Q2) of the year. The National Bureau of Statistics (NBS) revealed this in its second-quarter report released on Monday, September 22. The report shows the growth rate is higher than the 3.48 per cent …
As the Nigerian government prepares to implement new tax laws on January 1, 2026, there are mixed feelings of anticipation and anxiety among businesses, economic experts, and citizens regarding the impact. The six-month deadline set from June 2025, when the laws were signed by President Tinubu, was intended to allow for robust stakeholder engagement and …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Central Bank of Nigeria (CBN) Governor, Dr Olayemi Cardoso, to balance price stability with growth, raising concerns over the cash reserve ratio (CRR) and monetary policy rate (MPR) environment. CPPE made the call in a statement on Sunday, September 21, by its …
