On May 6, 2024, the Central Bank of Nigeria (CBN) ordered banks to begin the process of deducting cybersecurity levy which will be administered by the...
Shell has revealed that it paid the sum of $1.09 billion in corporate taxes and royalties to the Federal Government in 2023, highlighting its significant financial...
The International Organisation for Migration (IOM)’s world migration report reveals a surge in international remittances, soaring by over 650% from $128 billion in 2000 to an...
The latest report from the International Rescue Committee (IRC) and its partners says that around 16% of Nigerians will face severe food insecurity or hunger between...
The latest report from the International Rescue Committee (IRC) and its partners says that around 16% of Nigerians will face severe food insecurity or hunger between...
At least three Nigerian states Ekiti, Cross River and Ogun have proposed a suspension of foreign debt repayments due to severe foreign exchange volatility. This call...
The Central Bank of Nigeria (CBN) has ordered banks to enact the process of deduction of cyber security levy to be administered by the office of...
Nigeria may reinstate a previously suspended telecom tax and other fiscal measures as it seeks to secure a new $750 million loan from the World Bank. This is...
Nigeria may reinstate a previously suspended telecom tax and other fiscal measures as it seeks to secure a new $750 million loan from the World Bank. This is...
The cost of tomatoes and peppers could increase in Lagos as the Tomato Crates Dealers Association of Nigeria threatens to cut the supply of tomatoes to...
Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the umbrella body of players in the cryptocurrency industry, has blamed the rise of peer-to-peer (P2P) crypto trading...
In April, the global benchmark for food commodity prices ticked upwards, as declines in sugar and dairy products were outweighed by increase in meat prices, vegetable...
“Anybody still in the bread-making business is doing so because he cannot find any other thing to do and wants to save capital. There is no...
Nigeria’s credit to the private sector has seen a sharp decline of approximately N9.65 trillion from February to March 2024. This decline underlines the Central Bank...
Nigeria’s current food inflation rate stood alarmingly high at 40.1% in March 2024, as revealed by recent data by the National Bureau of Statistics (NBS). However,...
Nigeria’s current food inflation rate stood alarmingly high at 40.1% in March 2024, as revealed by recent data by the National Bureau of Statistics (NBS). However,...
The global credit ratings agency, Fitch, has estimated that approximately 30% of Nigeria’s external reserves are constituted by foreign exchange (FX) bank swaps. This disclosure underscores ongoing...
Global credit ratings agency, Fitch, has revised Nigeria’s long-term credit default rating upward from stable to positive on the back of reforms in the foreign exchange market,...
Nigerians have increased their hoarding of cash, with as much as 94% of the currency in circulation held outside banks by March 2024. An analysis of...
Nigeria and India will soon finalise a system of settling international trade between both countries in local currency following the second annual Joint Trade Committee (JTI)...
As the cost of living continues to rise, access to affordable and nutritious food remains a critical concern for many households across Nigeria. The Cost of...
The Vice President of Nigeria, Kashim Shettima, has said that President Bola Tinubu had to make the difficult decision to remove petrol subsidy because he inherited...
Exchange rate gains during the month of April led to a slowdown in inflation pressure, according to the Stanbic IBTC Nigeria Purchasing Managers Index (PMI) in...
Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has said that government purchases of palliatives are a contributing factor to rising food prices in...
Kenyan President William Ruto is confident of a positive response from the International Monetary Fund (IMF) for a $1 Billion disbursement citing an improving Kenyan economy...
The government of Japan says it wants Nigerians and its government to collaborate with Japanese companies to achieve stronger mutual economic growth. The Japan Ministry of...
About 34.3% of Nigerian workers, aged 15 and older, are working poor, living below the poverty line despite being employed. This is according to the Nigeria...
The Chairman of Dangote Sugar Plc, Alhaji Aliko Dangote, says the company plans to end the importation of sugar in the next four years going by...
Uganda has signed a $295 million loan agreement with Saudi Islamic Development Bank (IDB), said the East African country’s finance minister on Tuesday. According to Reuters,...
The International Monetary Fund (IMF) says the critical mineral deposits in sub-Saharan Africa (SSA) can boost the region’s Gross Domestic Product by 12% in 2050. This...
In the past one year, the price of food items especially staple foods has increased significantly. It has been adjudged that the increase in food prices...
Nigeria’s President Bola Tinubu says his administration removed petrol subsidy to put Nigeria on the path of economic growth. Tinubu highlighted this during a high-level panel...
For working-class Nigerians, surviving the monthly onslaught of inflation is tough. Before the International Labor Organization’s new definition of unemployment, Nigeria’s unemployed constituted nearly 40% of...
The Acting Director, of the Banking Supervision Department of the Central Bank of Nigeria (CBN), Dr Adetona Adedeji, has affirmed the bank’s decision to prioritize combating...
The Federal Ministry of Industry, Trade and Investment (FMITI) recently launched a $10 billion Nigeria Diaspora Fund, urging eligible firms to indicate interest in providing services...
A Swiss multinational, Glencore Plc has indicated interest in investing in Nigeria’s solid mineral sector with a specific focus on nickel, cobalt and zinc. This was...
Inflation in key African countries is expected to slow down into next year but remain high in Nigeria due to acute flooding and a difficult terrain...
Financial analysts have warned that the recently increased electricity tariff may drive up inflation in the country and inflict more misery on the poor. Nigeria’s inflation...
The Federal Government of Nigeria received an additional N3.8 trillion in what appears to be fresh Ways and Means Borrowing in the last six months of...
Prime Minister Mark Rutte has announced the activation of $250 million in fresh investments in Nigeria. This is a significant development that can bolster economic ties...
The federal government has signed an agreement called the Aso Accord with state governments and private sector stakeholders to make financial services affordable and accessible to...
In 2023, Nigeria’s banking sector witnessed a substantial increase in lending activities amid interest rate hikes, reflecting both the resilience of the economy and strategic efforts to support...
Energy and other commodity prices are projected to become significant deflationary factors in the forthcoming years, according to the World Bank. This trend may pose challenges...
The average cost of making jollof rice across major cities in Nigeria nearly hit the N17,000 mark as of March 2024. The SBM Jollof Index for...
The Lagos State Water Corporation (LWC) has dismissed 391 ‘redundant’ employees as part of its ongoing effort to reorganize the company’s structure in the face of...
Some of Nigeria’s leading companies incurred a combined forex loss of N1.8 trillion in the financial year 2023. This is according to information contained in the...
The National Association of Academic Technologists (NAAT) has proposed a minimum wage of N350,000 for workers in Nigeria. Mr. Ibeji Nwokoma, President of NAAT, announced this...
The Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, and the former Executive Secretary of the Nigerian Content Development Monitoring Board (NCDMB), Simbi Wabote, have...
President Bola Tinubu has approved the launch of the first phase of Consumer Credit Scheme in Nigeria, a programme designed to offer credit facilities to working...
Amid the rising food inflation in Nigeria, rice prices are dropping in major markets, falling by 20-30 percent within two months. This is a relief for...
Nigeria incurred a debt service of $3.5 billion for its external loans in the fiscal year ended 2023 according to data from the Central Bank of...
A new report by Save the Children has projected that one in every six children which is 15 million in Nigeria will go hungry during the...
The Federal Government of Nigeria has officially appealed to the World Bank for a deadline extension of the $100 million Nigeria for Women Project (NFWP). The...
The United Nations Conference on Trade and Development (UNCTAD) has warned developing countries especially in Africa facing a high risk of debt distress against issuing more...
The headline inflation in March 2024 hit 33.20% relative to February 2024 which stood at 31.70%. Inflation in the country has been increasing steadily as the...
Eid-ul-Fitr, marking the end of Ramadan, is a time for Muslims to gather in prayers, share meals, and exchange gifts. It’s also a joyous occasion celebrated...
Governor Seyi Makinde of Oyo State has said that the National Assembly approach on the issue of state police is taking governors nowhere. He said the...
Download Here The terrible situation of electricity across the country is really becoming alarming. NIGERIA DAILY: Ways The Naira Note Can Land You...
Imo State’s former Commissioner for Finance, Professor Uche Uwaleke, has said that the decision of the Monetary Policy Committee (MPC) to hike the Monetary Policy Rate...
Reality TV star, Uriel Oputa has relayed an update to her future toasters amid the current economic hardship in Nigeria. The BBNaija star on her Instagram...
Nigerian actress, Regina Daniels, has attracted reactions after she complained about the current hardship and the status of the economy. The movie star joined other prominent...