Economy

The Central Bank of Nigeria (CBN) has disclosed its intention to re-introduce and enforce the payment of the controversial Cybersecurity Levy on electronic transactions by Nigerians. The CBN made this known in its Monetary, Credit,…
Read More...

The Nigeria Customs Service (NCS) has disclosed that increasing petrol smuggling is affecting the availability of the country’s foreign exchange (FX). This statement was made by Husseini Ejibunnu, Coordinator of the Operation…
Read More...

The BRICS economic bloc is quickly expanding its influence, with 34 countries expressing interest in joining its activities, according to Russian President Vladimir Putin, reflecting the bloc’s ability to provide an alternative to the…
Read More...

The Central Bank of Nigeria (CBN) has warned that the removal of fuel subsidies, rising import costs, and increased external debt servicing could negatively impact the growth of the nation's external reserves in 2024/2025.  This was…
Read More...

CBN Headquarters Nigeria’s external reserves recorded an increase of $424.68 million between August 30 and September 10, highlighting an improved financial outlook for the country. Data sourced from a report by the Central Bank of…
Read More...

A former Chairman of the Society of Petroleum Engineers (SPE), Nigeria Council, Mr. Joe Uwakwe, has raised the alarm that cross-border smuggling of petrol was hurting the economy. Uwakwe disclosed this at a webinar organised…
Read More...

The Nigerian Economic Summit Group has explained how state governors spent the country’s $50 billion Excess Crude Account in 2010, which would have served as a buffer for petrol subsidy challenges. The Chief Executive Officer of…
Read More...

The Vice President of Liberia, Jeremiah Koung has revealed that out of eight licensed commercial banks in his country, four are owned by Nigerians. The Vice President disclosed in his remarks at the opening ceremony of the 17th…
Read More...

By William Emmanuel Ukpoju President Bola Tinubu has returned from his official trip to China, describing it as "very good and successful". During his meeting with Nigerians living in China, he emphasized his efforts to…
Read More...

Experts have only made little progress after 25 years of democracy, highlighting that policy inconsistencies have dwarfed the country’s growth. Speaking at the ‘National Economic Dialogue’ organised by the Nigerian Economic Summit…
Read More...