The Centre for the Promotion of Private Enterprise (CPPE) has cautioned the Nigerian government against introducing compulsory value-addition policies without first ensuring adequate domestic processing capacity. CPPE raised the concern in a policy brief signed by its Chief Executive Officer, Muda Yusuf, dated February 8, 2026. It said that while domestic value addition is important …
The Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, has said Nigeria's economic outlook shows consumer confidence is improving. This is expected to play a key role in driving the country's economic growth in 2026. He said this on Saturday at an economic discourse tagged ‘Building with Resilience in the Nigerian Economic Environment,’ organised …
Nigeria’s economic activity grew for the 14th straight month in January 2026, with entertainment and agriculture leading the expansion. This is contained in the latest Purchasing Managers’ Index (PMI) report released by the Central Bank of Nigeria (CBN). The report stated the composite PMI stood at 55.7 points in January. It remained well above the …
Google’s parent company, Alphabet, has crossed the $400 billion revenue threshold for the first time, powered by strong growth in cloud computing and artificial intelligence-driven services. The technology giant recorded an 18 per cent year-on-year increase in revenue, according to its latest earnings release, with total annual revenue surpassing $400 billion since the company was …
The Federal Government has entered into a cooperation agreement with the International Finance Corporation (IFC) aimed at accelerating the development of bankable infrastructure projects and attracting private sector investment into key sectors of the economy. The agreement was signed in Abuja on Wednesday by the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, …
U.S. Vice President JD Vance on Wednesday proposed forming a preferential trade bloc for critical minerals, with coordinated price floors, in a bid to reduce global dependence on China for materials crucial to advanced manufacturing. This announcement follows President Donald Trump’s launch of Project Vault, a strategic stockpile of critical minerals backed by $10 billion …
Rising taxes and fuel price adjustments slowed business growth in Nigeria in January 2026, pushing confidence to a six-month low, according to the latest Business Confidence Monitor (BCM) report by the Nigerian Economic Summit Group (NESG). The report showed that the Current Business Performance Index fell to 105.8 points in January from 112.0 points in …
Private sector business activity in Nigeria deteriorated in January 2026, according to the latest Purchasing Managers’ Index (PMI) released by Stanbic IBTC Bank Nigeria. The report shows that the index fell sharply to 49.7 in January, down from 53.5 in December for the first time since 2014, ending a 13-month streak of expansion and signalling …
The Nigeria Sovereign Investment Authority (NSIA) and the International Finance Corporation (IFC) have signed a $154.1 million agreement to expand cancer care across Nigeria. The deal, sealed in Abuja on Tuesday night, aims to improve access to quality diagnostic and treatment services nationwide. Under the partnership, the IFC, the private-sector arm of the World Bank …
The World Bank has described Nigeria as a global example of steady and credible reform leadership, citing the country’s consistency in implementing economic changes despite ongoing challenges. The Bank’s Managing Director of Operations, Anna Bjerde, remarked during a meeting on Tuesday with President Bola Tinubu and Vice President Kashim Shettima at the State House in …
