Economy
-
Nigeria money supply drops to N123.15trn in February 2026, says CBN
The Central Bank of Nigeria (CBN) has revealed that Nigeria’s broad money supply (M3) dropped marginally to N123.15 trillion in February 2026, down from N123.36 trillion in January 2026. Despite the monthly decline, M3 remains significantly higher than the N110.71 trillion recorded in February 2025, highlighting a continued year-on-year expansion in liquidity across the economy. Broad money, or M3, captures…
Read More » -
World Bank approves $500m loan for Nigeria’s agriculture sector
The World Bank has approved a $500 million International Development Association (IDA) credit for Nigeria to boost agricultural productivity, strengthen value chains, and improve food security under a new programme tagged the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) Project. This was disclosed in a statement published on the bank’s website, where it outlined the objectives and expected impact of…
Read More » -
Flutterwave secures licence from CBN to operate banking service
Flutterwave Inc., an African payments technology company, said it has secured a Nigerian banking licence from the Central Bank of Nigeria (CBN). Founder and chief executive officer (CEO) of Flutterwave, Olugbenga Agboola, announced the development in a post on Thursday. According to the statement, the licence enables Flutterwave to hold funds and deposits directly, marking a significant milestone in its…
Read More » -
Oyo moves to strengthen welfare delivery through new social protection law
By Adejayan Gbenga The Oyo State Ministry of Budget and Economic Planning has begun a major reform process aimed at establishing a comprehensive Social Protection Law to strengthen welfare delivery across the state. The initiative, led by the Commissioner for Budget and Economic Planning, Seun Ashamu, aims to harmonise existing social intervention programs into a unified legal framework that ensures…
Read More » -
Nigeria’s total oil, condensate reserves at 37.01bn barrels, says NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared Nigeria’s total oil and condensate reserves at 37.01 billion barrels as of January 1, 2026. The Commission also revealed that gas reserves at 215.19 trillion cubic feet (TCF) in the period under review. The commission’s chief executive Oritsemeyiwa Eyesan made the announcement, on Wednesday, highlighting the NUPRC’s mandate under the Petroleum…
Read More » -
Recapitalisation: 33 banks met capital requirements, says CBN
The Central Bank of Nigeria (CBN) has revealed that 33 banks out of 38 met the revised minimum capital requirements under its recapitalisation programme aimed at strengthening the resilience of the financial system. In a statement on Wednesday, CBN said the programme, which commenced in March 2024, has now been concluded after a 24-month implementation period. According to the statement…
Read More » -
NITDA, NIPSS strengthen collaboration to boost Nigeria’s digital economy
The National Information Technology Development Agency (NITDA) has reinforced its commitment to Nigeria’s digital transformation through strategic collaboration with key institutions. The agency recently hosted Professor Ayo Omotayo, Director General of the National Institute for Policy and Strategic Studies (NIPSS), along with participants of the Senior Executive Course (SEC) 48, 2026. Representing NITDA’s Director General, Dr. Aristotle Onumo, Director of…
Read More » -
Middle East Crisis: Tinubu’s naira-for-crude policy stabilising fuel supply — Presidency
The Presidency has stated that Nigeria’s naira-for-crude policy is helping the country avoid major fuel supply disruptions caused by the ongoing crisis in the Middle East. The Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, said on Wednesday that the policy introduced under President Bola Tinubu has helped maintain the steady availability of petroleum products despite…
Read More » -
Satellite Week: Nigeria’s digital future hinges on partnerships, says NITDA DG
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has underscored the importance of collaboration between government institutions and emerging startups as a key driver of Nigeria’s digital transformation and national development. Speaking at the Nigerian Satellite Week 2026 in Abuja, themed “Harnessing Space Technology for an Extraordinary Nigeria,” he urged stakeholders to embrace partnerships as a…
Read More » -
FG launches GenU secretariat to link 20 million Nigerian youths to skills, jobs by 2030
The federal government has launched a national secretariat to coordinate the implementation of the Generation Unlimited (GenU) Nigeria initiative, a programme aimed at connecting 20 million young Nigerians to education, skills development and employment opportunities by 2030. Vice President Kashim Shettima inaugurated the Office of the Vice President–Generation Unlimited (OVP-GenU) Secretariat on Tuesday in Abuja, describing it as a key…
Read More »
Follow our WhatsApp Channel