Category: Finance

Nigeria’s local currency is showing signs of renewed strength, as the naira strengthens on rising forex inflows, bringing a wave of optimism to investors and market watchers. After several weeks of fluctuation, the naira appreciated by 0.72 percent, reflecting steady improvements in dollar supply and increased foreign investment activity. Improved Dollar Supply According to market…

The African Development Bank (AfDB) has confirmed plans to lend Nigeria $500 million in budget support before the end of 2025, reinforcing its partnership with Africa’s largest economy. The funding forms part of a $1 billion support program aimed at helping Nigeria stabilize its finances and advance crucial economic reforms. According to Bode Oyetunde, Nigeria’s…

Nigeria’s currency, the naira, dropped further in value, with the parallel market now trading at about ₦1,537 to the US dollar. In the official Nigerian Foreign Exchange Market (NFEM), it also weakened — from ₦1,485.50 to ₦1,498 per dollar — showing signs of pressure across both markets. Widening Rates in Parallel vs Official FX Markets…

The Central Bank of Nigeria (CBN) is doubling down on its cashless economy policy, unveiling plans for an upgraded payments framework aimed at slashing cash-based transactions and boosting digital payments across the country. Potential Challenges Latest Post RECOMENDED POST

The Apapa Area Command of the Nigeria Customs Service has achieved a new milestone in revenue collection, setting a record single-day haul of ₦20,156,077,098.56 on September 9, 2025. This new achievement surpasses the ₦18.9 billion previously recorded on March 14, 2025, marking a significant leap in the command’s financial performance. Why the Surge? According to…

At the Gastech Exhibition and Conference, Nigeria’s NNPCL Group CEO Bayo Ojulari unveiled a bold strategy to attract $60 billion in investment over the next 5–7 years. The initiative aims to dramatically scale up national gas infrastructure and elevate Nigeria’s presence in the global energy arena. Fueling Industrial Growth and Infrastructure Expansion Ojulari highlighted how…

At a strategic crossroads of its foreign policy and economic goals, India deepens its trade ties with both Russia and China—yet the scale, structure, and implications of these relationships differ widely. India–Russia: Energy-Driven Trade and Strategic Alignment Trade Volume India–Russia trade surged to a record US$68.7 billion in 2024–25, with ambitions to reach US$100 billion…

Asia Markets Mixed as Gold Shines Bright Gold prices climbed to a new historic peak, reaching $3,501.59 per ounce during early Asian trading surpassing the previous record of $3,500.10 set in April. Asian equity markets posted varied performances: This mixed performance followed a muted return to trading after the U.S. Labor Day holiday. Sources suggest…

Global oil markets experienced a notable rise on Tuesday, driven by escalating tensions between Russia and Ukraine that have raised alarms over supply disruptions and sparked renewed interest in upcoming OPEC+ decisions and potential U.S. rate cuts. Ukraine’s Drone Strikes Ripple Through Oil Markets Ukraine’s recent drone attacks have dealt a significant blow to Russian…

The global beauty and cosmetics industry is booming — valued at more than $500 billion and still growing. While countries like France, South Korea, and the United States dominate this market, Nigeria has a golden chance to carve out its share by tapping into one of its most overlooked natural resources: shea nuts. From Local…