Abuja – Nigeria’s government is taking a bold step to boost its economy by prioritizing locally made products. A new Nigeria industrialisation policy, named the ‘Renewed Hope Nigeria First Policy,’ has been approved. This plan directs all government agencies to purchase Nigerian…
Abuja – Nigeria’s anti-graft agency has launched a probe of NNPCL officials, investigating alleged misuse of funds and abuse of office. The Economic and Financial Crimes Commission (EFCC) is scrutinizing at least fourteen current and former staff of the Nigerian National Petroleum Company…
Abuja – Good news for Nigeria’s finances: the Central Bank of Nigeria (CBN) announced Nigeria external reserves grow. The nation’s reserves climbed to $38.8 billion in 2024, showing a healthy increase. Why the jump? The CBN points to several factors. More money came in…
Nigeria’s leading business group, NACCIMA, has called for immediate government action. The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture sees a worsening poverty crisis. Swift intervention is necessary. This urgent call follows a stark World Bank report.…
Rivers State, Nigeria – A deadly explosion occurred Saturday at a house used for storing illegally refined petroleum products. At least five people lost their lives in the devastating fire in Ogba/Egbema/Ndoni Local Government Area (ONELGA). The explosion at illegal…
Nigeria – The Nigerian Naira finished the week stronger against the US dollar. The currency recorded important gains Friday. These gains appeared in both the official and parallel foreign exchange markets, offering positive news for the Naira dollar rate. Boost…
Abuja – The World Bank has issued a projection indicating the Nigeria poverty rate is expected to climb in the coming years. According to the Bank’s latest Africa’s Pulse report, poverty in Nigeria is forecast to increase by 3.6 percentage points between 2022…
Washington – Nigeria’s economic growth prospects for 2025 have been trimmed by the International Monetary Fund (IMF). Citing concerns over falling oil prices, the global lender lowered its Nigeria forecast, projecting slightly slower growth than previously expected. In its April 2025…
Abuja – The International Monetary Fund (IMF) assessed Nigeria’s recent economic changes. President Bola Ahmed Tinubu started major reforms nearly two years ago. The IMF stated these reforms have not yet improved life for the average Nigerian. The Nigerian economic reforms…
Lagos – Nigeria’s Naira decreased slightly in the official foreign exchange market Thursday. The currency closed at N1,599.93 per US dollar. This rate was lower than Wednesday’s N1,599.79. Central Bank of Nigeria (CBN) data showed the N0.14 decline. Foreign exchange…
