President Bola Ahmed Tinubu has approved a one-year extension of the ban on the export of raw shea nuts, reinforcing the Federal Government’s push to deepen local processing and strengthen value addition in the agricultural sector. The extension, which takes effect from February 26, 2026, to February 25, 2027, was announced on Wednesday by the …
After months of heated legislative battles, street protests, elite lobbying and public outrage, President Bola Tinubu signed the Electoral Act Amendment Bill 2026 into law, setting the legal framework that will govern Nigeria’s elections heading into the pivotal 2027 general polls. The recently concluded FCT council elections on Saturday, February 21, marked the first polls …
The Alliance for Economic Research and Ethics (AERE) has warned that the naira’s rebound could falter if rising debt and weak fiscal discipline persist. It raised the concern in a statement issued on Wednesday, February 25 and signed by its chairman, Dele Kelvin Oye. The group said that while the naira’s recovery from over ₦1,600 to …
Ahead of the Saturday, February 22, 2026 FCT area council elections, hopes were high and the energy vibrant when Peter Obi and Atiku Abubakar, joined the campaign rally for one of their favourites, Dr. Paul Moses, popularly known as Dr. Mo, the chairmanship candidate of the African Democratic Congress (ADC), for the Abuja Municipal Area …
Nigeria is set to begin exporting a new crude oil grade called 'Cawthorne' in March 2026. This new stream is part of the country's broader strategy to boost its crude production and expand its presence in the global oil market. A Reuters report said a spokesperson of the Nigeria National Petroleum Company Limited (NNPC) confirmed …
Nigeria’s foreign exchange reserves have reached a significant milestone, with the gross reserves now standing at $50.4 billion as of mid-February 2026, marking the highest level in the past 13 years, offering a strong indicator of the country’s economic resilience and positive outlook. This was confirmed by the Central Bank of Nigeria (CBN) Governor, Olayemi …
The Central Bank of Nigeria (CBN) said 20 banks have fully met the new minimum capital requirements, with just one month to the March 2026 recapitalisation deadline. CBN Governor Olayemi Cardoso disclosed this on Tuesday during a briefing at the end of the two-day Monetary Policy Committee (MPC) meeting. He said the committee acknowledged the …
Nigeria’s export of unprocessed raw materials surged to ₦2.9 trillion in the first nine months of 2025, despite the Federal Government’s intensified push for value-added exports and local processing. Latest data from the National Bureau of Statistics (NBS) showed that raw material exports rose by 147.4 per cent from ₦1.174 trillion recorded in the corresponding …
Recently, key economic data have revealed stronger foreign exchange (FX) inflows, tighter Central Bank controls, cooling inflation, and a shift in investor positioning, all of which are reinforcing the naira’s recent gains, although oil revenue and global risk remain key threats. Analysts are beginning to say that the naira’s recent strength is starting to look …
Nigeria’s capital market contribution to Gross Domestic Product (GDP) has increased to 33 per cent from 13 per cent in April 2024, reflecting its expanding role in the economy. The growth follows a 125 per cent increase in market capitalisation, which rose to N123.93 trillion from about N55 trillion. The Director-General of the Securities and …
