Economy
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FG launches report to remove payment barriers facing MSMEs in AfCFTA trade
The federal government has launched a report on cross-border digital payments and identity systems aimed at helping Micro, Small and Medium Enterprises (MSMEs) take advantage of opportunities within the $3.5 trillion African Continental Free Trade Area (AfCFTA) market. The report, titled Cross-Border Digital Payments and Identity in Nigeria under the AfCFTA, was unveiled on Monday in Abuja at a high-level…
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Nigeria’s external reserves slide $547m in 15-day
The Central Bank of Nigeria (CBN) has revealed that Nigeria’s external reserves declined by about $547 million within a 15-day period in March 2026, reflecting renewed pressure on the country’s external buffers. The foreign exchange buffer declined from $50.03 billion on March 11, 2026, to $49.48 billion on March 26, 2026, representing a total drop of $547 million. The decline…
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Stock market adds N29trn in Q1 2026
The Nigerian Exchange Limited (NGX) extended its positive sentiments in the first quarter of 2026 as investors posted an unprecedented gain of N29 trillion, amid sustained buying interest across key sectors and an improving macroeconomic outlook. Data from the NGX showed that market capitalisation, which opened the year at N99.937 trillion on January 2, 2026, climbed sharply to N128.969 trillion…
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NCC mandates telcos to compensate subscribers over poor service
The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to compensate subscribers who experience poor quality of service below prescribed standards in specific locations. The commission stated that subscribers should not bear the burden of service disruptions where operators fail to meet established Quality of Service (QoS) targets. Under the directive, operators found wanting will be required to…
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SEC DG seeks stakeholders’ collaboration on capital market devt
The Director-General of the Securities and Exchange Commission (SEC) Nigeria, Dr. Emomotimi Agama, has solicited the collaboration of all stakeholders in the nation’s financial system in its current regulatory drives aimed at fully exploring the potential of the investment space for sustainable development of the country. The SEC Boss, who made the appeal in his keynote address delivered at the…
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Open letter to the President: The need for Presidential task force on power sector, by Kola Amzat
His Excellency, Asiwaju Bola Ahmed Tinubu, President, C-in-C, Federal Republic of Nigeria, Presidential Villa, FCT, Abuja. Your Excellency, Open Letter to President The Need for Presidential Task Force on Power Sector Your Excellency, Nigerians profoundly appreciated the wonderful job executed by Taiwo Oyedele led Presidential Task Force on tax reforms, an historic exercise that produced new Tax…
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Hardship price of economic reforms, Nigeria now stabilising — Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says Nigeria’s economy is gradually stabilising and showing signs of recovery despite the current economic hardship facing citizens. Edun spoke on Friday in Abuja at the national convention of the All Progressives Congress (APC), where he represented the Federal Executive Council (FEC). Addressing party members, the minister defended…
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Three South-West states make FG’s top 10 ease of doing business list
The Federal Government has identified three South-West states — Lagos, Oyo and Ogun — among the top performers in Nigeria’s latest ease of doing business ranking. Other states on the list include Kaduna, the Federal Capital Territory (FCT), Enugu, Plateau, Ekiti, Kano and Nasarawa. The ranking, contained in the 2025 Subnational Ease of Doing Business Report, indicates that reform-focused states…
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CBN to appeal court ruling on Union Bank takeover
The Central Bank of Nigeria (CBN) has filed an appeal against the Federal High Court, Lagos Division’s judgment that voided its takeover of Union Bank of Nigeria Plc and ordered the reinstatement of the bank’s former board of directors. The March 25, 2026 ruling, delivered by Justice Chukwujekwu Aneke, held that the apex bank acted beyond its statutory powers in…
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Tinubu promises electricity reforms, targets 1,600MW grid boost
President Bola Tinubu has highlighted Nigeria’s lingering electricity challenges, citing debts, weak transmission infrastructure and supply constraints, while announcing plans to strengthen the national grid. Speaking on Friday at the national convention of the All Progressives Congress (APC) in Abuja, the President said his administration is working to resolve structural problems affecting stable power supply. Tinubu admitted that the electricity…
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