Nigeria’s capital importation rose to $21 billion in the first 10 months of 2025. The figure marks a 75 per cent increase from the $12 billion recorded in the same period of 2024. The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed this during the 2026 budget defence before the Joint House of …
The National Sugar Development Council (NSDC) and the Nigerian Export-Import Bank (NEXIM Bank) have formed a strategic partnership to unlock long-term financing for Nigeria’s sugar industry. At a high-level meeting in Abuja, both institutions agreed to work together to drive large-scale sugar production and reduce the country’s heavy reliance on imports. Leading the NSDC team, …
U.S. job growth likely improved slightly in January, helped by fewer post-holiday layoffs, but economists say the labor market remains fragile amid trade tensions and tighter immigration policies. The Labor Department’s employment report, released Wednesday after a delay caused by a federal government shutdown, is expected to show nonfarm payrolls increased by about 70,000 jobs …
The Federal Government of Nigeria has set a bold revenue target of ₦40.7 trillion for 2026. Officials say the goal is to boost domestic revenue and reduce dependence on borrowing. The target, revealed at the Nigeria Revenue Service (NRS) Management Retreat in Abuja on Tuesday, represents a 44 per cent increase from the ₦28.29 trillion …
Nigeria must reduce its reliance on borrowing and strengthen its domestic revenue base to stabilise public finances and fund sustainable development, Finance Minister and Coordinating Minister of the Economy, Wale Edun, said on Tuesday. Speaking at the Nigerian Revenue Service (NRS) management retreat in Abuja, Edun warned that the global financial environment had grown increasingly …
The Central Bank of Nigeria (CBN) has outlined price stability and strengthening external reserves as the core pillars of its medium-term growth strategy, reinforcing its transition to an inflation-targeting framework and its commitment to defending the naira. Speaking at the National Economic Council Conference at the Presidential Villa in Abuja, CBN Governor Olayemi Cardoso said …
The Nigeria Revenue Service (NRS) said it collected ₦28.3 trillion in revenue by the end of December 2025, marking a significant performance milestone for the agency. The figure was disclosed on Tuesday by the Executive Director in charge of Government and Large Taxpayers, Amina Kurawa, during a staff retreat organised by the service. She said …
Nigeria’s headline inflation is projected to rise to 16.73 per cent in January 2026, marking what analysts expect to be the highest level this year before a steady decline toward single digits. The forecast, released by United Capital Research on Monday, represents an increase from 15.15 per cent recorded in December 2025 by the National …
The Bank of Industry (BoI) has secured regulatory approval from the Central Bank of Nigeria (CBN) to operate a Non-Interest Banking (NIB) Window, a move that marks a major milestone in the bank’s growth and long-term development strategy. In a statement, the BOI said the approval allows it to formally commence non-interest banking operations. The …
The Nigerian naira remained stable against the United States dollar on Monday, February 9, 2026. This stability marked the start of the second week of trading in the foreign exchange market. Overall, the currency continued to benefit from consistent policy support and improved market confidence. In the Nigerian Foreign Exchange Market (NFEM), the naira opened …
