Economy
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Foreign capital inflows up by 84% to $10.37bn in Q1 2026c, says NBS
Nigeria attracted $10.37 billion in capital importation in the first quarter of 2026, marking an 83.8per cent increase compared to the $5.64 billion recorded in the corresponding period of 2025, as foreign investors ramped up purchases of money market instruments and bonds. This is according to the latest data released by the National Bureau of Statistics (NBS) on Wednesday. The…
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Lagos, Ogun, Kaduna emerge Nigeria’s top-performing states in new report
Lagos, Ogun, and Kaduna states have emerged as Nigeria’s best-performing subnational governments in the 2025 edition of the Phillips Consulting State Performance Index (pSPI), a new assessment that evaluates governance, fiscal strength, service delivery, and citizen perception across the country. According to the report, Lagos ranked first nationally, followed by Ogun in second place and Kaduna in third, making them…
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Nigeria has seen consequential economic transition under Tinubu, says MAN
The Manufacturers Association of Nigeria (MAN) on Tuesday stated that Nigeria has seen consequential economic transition under President Bola Tinubu in the past three years, stressing the reforms though difficult but it has created a solid groundwork for long-term economic recovery. The Director-General, MAN, Mr. Segun Ajayi-Kadir, in a report entitled: “Manufacturer Assess Impact of Recent Economic Reforms on…
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Shettima hails Starlink donation to boost emergency response in Nigeria
Vice President Kashim Shettima has commended the donation of specialised satellite communication equipment by Starlink, a SpaceX satellite internet service, to the National Emergency Management Agency (NEMA), saying it will significantly strengthen Nigeria’s disaster response capacity. Shettima gave the commendation on Tuesday at the Presidential Villa, Abuja, during a courtesy visit by a delegation from NEMA and Starlink led by…
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Shettima urges states to accelerate reforms to unlock $750m SABER programme
Vice President Kashim Shettima has called on state governments to fast-track business-enabling reforms to fully unlock the potential of the $750 million World Bank-supported State Action on Business Enabling Reforms (SABER) programme. Speaking on Tuesday at a stakeholder meeting on improving SABER implementation at the Presidential Villa, Abuja, Shettima said effective delivery of the programme would help create a more…
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WIPO opens first Sub-Saharan Africa office in Nigeria
Nigeria has strengthened its position as a leading innovation hub in Africa following the launch of the World Intellectual Property Organization (WIPO) Office in Abuja, the first WIPO office established in Sub-Saharan Africa. The office was officially inaugurated at the United Nations House in Abuja, followed by a high-level roundtable on accelerating Nigeria’s innovation ecosystem and expanding the role of…
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Tinubu hails MREIF after ₦128bn mortgages reach 1,859 Nigerian families
President Bola Tinubu has hailed the impact of the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), following the delivery of ₦128 billion in affordable mortgages to 1,859 Nigerian families across 25 states. According to the President, the beneficiaries, drawn from all six geopolitical zones, accessed mortgages with repayment periods of up to 20 years at a fixed interest…
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Average price of Garri drops by 39.8% in April 2026, says NBS
The National Bureau of Statistics (NBS), revealed that the average price of white garri sold loose fell by 39.86per cent year-on-year, while brown beans recorded a steeper decline of 44.89per cent compared to the corresponding period of 2025. The figures were contained in the NBS Selected Food Price Watch report for April 2026, which also showed mixed price movements across…
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CBN moves to enhance monetary policy, reassigns deputy governors in strategic shake-up
The Central Bank of Nigeria has approved the redeployment of its Deputy Governors with effect from June 1, 2026, in what appears to be a strategic internal realignment aimed at strengthening policy coordination and financial system oversight. The reshuffle places Mr. Philip Ikeazor in charge of Economic Policy, Dr. Muhammad Sani Abdullahi in Corporate Services, Ms. Emem Usoro in Operations,…
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Equities market drops by N1.81trn to kick-off June 2026 on negative note
The Nigerian equities market opened June on a negative note, shedding N1.81 trillion from market capitalization. The All Share Index (ASI) declined by 2,824.81 points, representing a loss of 1.13 per cent to close at 247,560.66 points. Accordingly, market capitalisation shed N1.81 trillion to close at N158.698 trillion. The downturn was impacted by losses recorded in medium and large capitalised…
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