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 …
Competition in Nigeria’s downstream petroleum sector has intensified once more following a drop in the landing cost of imported Premium Motor Spirit (PMS), commonly known as petrol, below the ex-depot price offered by the Dangote Petroleum Refinery. The Widening Price Gap According to the Major Energies Marketers Association of Nigeria (MEMAN) Competency Centre Energy Bulletin, …
Suspected Boko Haram and Islamic State West African Province (ISWAP) insurgents have again attacked trucks carrying food supplies to Maiduguri, Borno State. The attack marks a renewed assault on commercial activities along key supply routes. The incident happened on Saturday along the Monguno–Guzamala axis. It occurred between Burmari and Garin Kashim villages in Guzamala Local …
The protracted electricity metering crisis in Nigeria has taken a fresh turn with an ongoing standoff between the Federal Government and Electricity Distribution Companies (DisCos). This friction over meter installation has left millions of unmetered consumers trapped in a cycle of "arbitrary" estimated billing. The $500 Million Metering Dispute At the heart of the dispute …
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 …
Ecobank Transnational Incorporated posted a 30 per cent rise in profit before tax to ₦1.28 trillion, supported by growth in interest income, fees and customer deposits. The pan-African lender reported this in its 2025 unaudited financial statements for the year ended December 31, 2025, released on Friday. A review of the results by Pinnacle Daily …
In a major step to secure the Sahel region and boost regional trade, the Nigeria Customs Service (NCS) and the Niger Republic Customs Administration agreed to deepen cross-border cooperation. The move targets faster transit of goods, safer borders, and stronger efforts against terrorism and banditry. The announcement came during a high-level meeting at the Customs …
The Peoples Democratic Party (PDP) has warned that its National Secretariat is currently under litigation and must not be forcefully accessed or occupied by any individual or group until the courts deliver a final judgement. The warning follows reports that a faction of the party loyal to the Minister of the Federal Capital Territory (FCT), …
The United States has condemned the deadly attacks on Woro and Nuku communities in Kaiama Local Government Area, Kwara State, calling the incident “horrific” as casualty figures continue to rise. While the Nigerian Police reported 75 deaths, local sources and international observers estimate the toll at over 160, with many still unaccounted for. “The United …
