Economy
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Adeyeye tasks Nigerians on harnessing blue economy for sustainable growth
By Boye Oyeyemi – Chairman of the Nigerian Ports Authority (NPA) Board, Senator Adedayo Adeyeye, has urged Nigerians to fully embrace President Bola Tinubu’s vision of the blue economy, describing it as a vital pathway to unlocking the nation’s economic potential. Adeyeye made the appeal while delivering a lecture at the maiden public lecture of the Centre for Blue Economy…
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Naira appreciates to N1,535.78/$ at official market rate
The Naira on Thursday appreciated to N1,535.78 against the dollar on Thursday from N1,536.73 against the dollar it closed on Wednesday. This is according to the Central Bank of Nigeria (CBN)’s daily Nigerian foreign exchange market (NFEM) rates. The local currency had opened this week at N1,532.51 against the dollar despite the CBN intervention in the foreign exchange market. However,…
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Average petrol price drops by 1.22% to N1,024.99/litre in July 2025, says NBS
The National Bureau of Statistics (NBS) on Thursday disclosed that the average retail price paid by consumers for Premium Motor Spirit (Petrol) for July 2025 was N1024.99, a decrease of 1.22per cent from N1,037.66 in June 2025. On a year-on-year basis, this indicates a 33.02per cent increase compared to the value recorded in July 2024, which was at N770.54. NBS…
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DMO offers N200bn FGN bonds for subscription in August 2025
The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), has announced the offering of N200 billion in bonds subscription by auction in August 2025. The exercise is scheduled to take place on Monday, August 25, 2025, with settlement fixed for Wednesday, August 27, 2025. This is according to a circular posted on DMO’s website on…
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At $41bn, Nigeria’s external reserves hit 44-month high
The Central Bank of Nigeria (CBN) has revealed that the Nigeria’s external reserves rose to $41.00 billion on August 19, 2025, the highest level in 44 months. The current level marks the highest level recorded since December 3, 2021, and shows the steady external accretion witnessed in recent weeks. The new trajectory comes after months of gradual depletion and volatility,…
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FG hails $20m PepsiCo, DP World investment facility in Lagos
The Federal Government has reaffirmed its commitment to economic reforms and private sector–driven growth following the inauguration of a $20 million production facility by PepsiCo and DP World in Lagos. The facility, unveiled on Thursday, is seen as a major boost to Nigeria’s investment climate and a signal of renewed investor confidence in the economy under President Bola Ahmed Tinubu’s…
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Tinubu targets $1bn trade and investment at TICAD9
…pledges to position Nigeria as West Africa’s hub By Kunle Sanni – President Bola Tinubu says Nigeria is pursuing a bold $1 billion trade and investment target at the Ninth Tokyo International Conference on African Development (TICAD9), holding in Yokohama, Japan. Leading a high-powered delegation, Tinubu said the visit is focused on driving green innovation, industrial growth, and global partnerships…
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BREAKING: Tinubu delegation at TICAD9 focused on high-level deals, not trade expo — Presidency
By Kunle Sanni – The Presidency has dismissed criticism over Nigeria’s unmanned booth at the ongoing Tokyo International Conference on African Development (TICAD9) in Japan, saying the country’s official delegation did not travel to attend a trade fair. In a statement issued on Wednesday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, said President Bola Tinubu and…
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Tinubu abolishes 5% telecom excise duty to ease cost burden on Nigerians
By Kunle Sanni – President Bola Tinubu has permanently removed the 5% excise duty on telecommunications services, a levy that industry stakeholders and consumer groups had long opposed. The decision was confirmed on Tuesday in Abuja by Nigerian Communications Commission (NCC) Executive Vice-Chairman Aminu Maida, who said the duty—initially suspended in July 2023—has now been scrapped entirely under revised tax…
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Musawa unveils roadmap for arts, culture, tourism at ministerial retreat
The Minister of Arts, Culture, Tourism and the Creative Economy, Hannatu Musawa has outlined a comprehensive vision to reposition the sector as a key driver of jobs, growth, and economic expansion. Speaking at the ongoing Ministerial and Sectoral Retreat, the Minister said the initiative comes at a pivotal moment for the ministry, noting that Nigeria must adapt to global technological,…
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