Economy
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Nigeria’s economic reforms attract nearly $6bn in private capital — World Bank
The President of the World Bank Group, Ajay Banga, has commended Nigeria’s economic reform efforts, highlighting an increase in private capital inflows from about $300 million in 2023 to nearly $6 billion in 2026. Banga gave the commendation during a meeting with the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Governor of the Central…
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Nigeria’s Overnight Financing Market up by 10.64% to N108.5trn, CBN reveals
The Central Bank of Nigeria (CBN) has revealed that the total traded volume at Nigeria’s Overnight Financing Market Rate (NOFR) increased to N108.5 trillion in September 2026, an increase of 10.64 per cent when compared to N98.08 trillion reported in August 2026 The NOFR is designed to serve as Nigeria’s overnight risk-free reference rate, reflecting the cost of secured overnight…
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SEC deepens investor education in Nasarawa, seeks stronger partnership with state government
The Securities and Exchange Commission (SEC), Nigeria, has intensified efforts to promote financial literacy, strengthen investor protection and expand participation in the Nigerian capital market through its Capital Market Awareness, Unclaimed Funds and Investor Education Outreach Programme held in Lafia, Nasarawa State. The programme brought together representatives of relevant institutions, academia and other stakeholders to promote awareness of investment opportunities,…
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World Bank: We’ll expand cash transfer programme beyond 10m households — Tinubu
President Bola Tinubu has pledged to expand the Federal Government’s targeted cash transfer programme, which he said has reached more than 10 million households, as part of efforts to improve living conditions for Nigerians. Tinubu said the government would sustain its economic reforms while expanding social protection measures to ensure that the benefits of economic growth reach more households. The…
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Government accounts for N11.08trn bond listings on NGX
Government securities dominated new and supplementary listings on the Nigerian Exchange Limited (NGX) in the first nine months of 2026, accounting for approximately N11.08 trillion, or 80per cent of the N13.86 trillion in identifiable listing value recorded during the period. This is according to the latest Nigerian Exchange Regulation (NGX RegCo) X-Compliance Report, which detailed securities admitted to the Exchange…
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NNPC extends petrol discount to October 31, rules out subsidy return
The Nigerian National Petroleum Company Limited (NNPC Ltd) has extended its petrol discount at retail stations nationwide until October 31, insisting that the initiative does not amount to a return of fuel subsidy. The company said the discount, introduced on October 1 to mark Nigeria’s 66th Independence Anniversary, would continue throughout the month to ease the impact of rising petrol…
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Moove exits: Eligible Nigerian drivers to operate N35bn vehicles
Moove said it is transferring vehicles worth about N35billion to eligible Nigerian customers as it concludes its operations in the country after six years. Under the arrangement, drivers currently operating eligible vehicles through Moove’s drive-to-own and rental products will take full ownership of the vehicles, with no further payment to the company required for the vehicles themselves from October 1,…
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Nigeria’s education spending drops amid states’ 93% revenues increase, says World Bank
The World Bank says Nigeria’s 36 states recorded a 93 per cent increase in revenues between 2023 and 2025 but education received a declining share of the sector’s expenditure. The bank disclosed this in its latest Nigeria Development Update, which examined how increased public revenues have influenced spending priorities across the federation. According to the report, states’ aggregate revenues rose…
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Fuel Crises: Tinubu backs NNPC relief to waive profit margin, sell petrol at landing cost for 30 days
President Bola Tinubu has backed a decision by the Nigerian National Petroleum Company Limited (NNPCL) to waive its petrol retail profit margin and sell the product at landing cost for 30 days amid the recent surge in global crude oil and petrol prices. The decision was announced on Thursday by Taiwo Oyedele, Minister of Finance and Coordinating Minister of the…
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Equities market drops by N1.33trn on profit taking in Aradel Holdings, 31 others
Selling pressure intensified on the floor of the Nigerian equities market with a decline of N1.33 trillion, marking one of the steepest single-day declines in recent weeks. As a result, the All-Share Index declined by 2,054.25 points, representing a loss of 0.82 per cent to close at 248,042.50 points. Also, market capitalisation shed N1.33 trillion to close at N161.052 trillion.…
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