Nigeria’s FX reserves hit $41bn, highest in 44 months
Nigeria’s foreign exchange reserves have climbed to $41 billion as of August 19, 2025, marking the country’s strongest external buffer in nearly four years. Data published by the Central Bank…
US concerned about Nigeria’s minimum wage, saying ₦70,000 insufficient after naira devaluation
A recent report from the United States government has highlighted significant challenges surrounding Nigeria’s minimum wage, asserting that the current rate of N70,000 is insufficient to uplift millions of citizens…
Economic stability doesn’t mean end of hardship, says Yemi Kale
Former Director-General of the National Bureau of Statistics (NBS) and current Group Chief Economist at Afreximbank, Dr. Yemi Kale, has explained that describing an economy as “stable” does not necessarily…
Nigeria’s cocoa exports soar to ₦1.2trn
Nigeria’s cocoa exports surged to N1.2 trillion in the last quarter of 2024, a sharp rise from N171 billion in Q4 2023, according to the Senior Special Assistant to the…
Tinubu sets Q1 2026 deadline for National Single Window project take-off
President Urges Speedy Implementation of Key Trade Reform Initiative President Bola Tinubu has directed that the National Single Window (NSW) project—Nigeria’s flagship trade facilitation platform—must become fully operational by the…
Moody’s upgrades Nigeria’s credit rating: Tinubu calls it a ‘positive signal for investors’
In a major development for Nigeria's economy, Moody's Investors Service has upgraded the country's long-term foreign-currency issuer rating from Caa1 to B3, now with a Stable Outlook. This update has…
Financial Times: Nigeria’s ‘shock therapy’ economic reforms signal recovery
Two years into the presidency of Bola Ahmed Tinubu, Nigeria is showing early signs of economic recovery after years of stagnation, mismanagement, and insecurity. Though the majority of Nigerians are…
Customs records ₦1.3trn revenue in Q1 2025 amid Tinubu’s reforms
The Nigeria Customs Service (NCS) has achieved a remarkable revenue collection of ₦1.3 trillion in the first quarter of 2025, more than double the ₦600 billion collected during the same…
China to establish electric vehicle factories in Nigeria, deepen mining sector ties
In a bid to bolster Nigeria’s economic diversification agenda and strengthen bilateral relations, China has announced plans to establish electric vehicle (EV) factories in Nigeria, capitalizing on the country's rich…
DBN to boost financing to ₦1.3trn, create two million jobs in five years
The Development Bank of Nigeria (DBN) has set an ambitious goal to increase its debt and equity capital financing to N1.3 trillion over the next five years. During a media…