The Federal Government and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) to strengthen coordination between fiscal and monetary policies and improve economic stability. The statement, issued on Saturday by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the agreement would align key economic assumptions …
Nigeria's formal admission as an Association Country with the International Energy Agency (IEA) is a significant milestone, marking a pivotal shift in the country's position within global energy markets. Vice President Kashim Shettima highlighted this during the recent signing of an agreement between Nigeria and the IEA for a Joint Work Programme to strengthen strategic …
Nigeria’s return to a J.P. Morgan global bond index after 11 years could become more than a reputational boost for the country if the renewed access to international investors helps reduce the cost of government borrowing and ease its growing debt-service burden. J.P. Morgan, a leading global financial services firm, has announced the inclusion of …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that restoring universal petrol subsidy could cost the Nigerian government nearly ₦20 trillion annually, creating a bigger fiscal, debt, foreign-exchange, and investment problem for the economy. In a policy brief issued on Sunday, September 13, 2026, CPPE Chief Executive Officer Dr. Muda Yusuf said …
The National Insurance Commission (NAICOM) has rejected allegations of a ₦100 billion fraudulent insurance recapitalisation exercise, saying neither its Commissioner for Insurance nor any of its directors has been indicted, charged or found culpable of fraud. The commission, in a rejoinder issued on Thursday, described a publication alleging that a NAICOM director and the Commissioner …
Nigeria’s trade with the rest of the world has changed significantly over the past year, with the country selling more goods to its African neighbours, finding a major new market for fertiliser in the United States, and sharply reducing its dependence on American imports. The changes, seen in Nigeria’s trade figures from the second quarter …
Nigeria’s economy is gaining momentum, with growth accelerating to 4.43 per cent in the second quarter of 2026 and foreign exchange reserves climbing to a 17-year high of $53.11 billion. The improvement in headline indicators, however, has yet to translate into meaningful gains for millions of Nigerians, the Alliance for Economic Research and Ethics has …
Nigeria is winning back the confidence of international investors and global rating agencies, but the government still faces a major problem at home, as much of its revenue is being swallowed by debt payments. Foreign reserves have climbed to their highest level in more than 17 years. The naira has become more stable, inflation has …
Uber is not leaving Nigeria because it ran out of money. It is leaving while the global company is growing, generating billions of dollars in cash and preparing to pour more than $10 billion into autonomous mobility. Yet in Nigeria, the same platform that once estimated it supported ₦34 billion in economic activity has become …
Nigeria’s economic reforms have pushed state government revenues to record levels, but the gains have yet to translate fully into better living conditions for millions of Nigerians, according to a new analysis by civic organisation BudgIT. The report comes shortly after the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said Nigeria’s …
