Economy
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UBA, NiDCOM deepen collaboration to unlock diaspora capital for Nigeria’s growth
United Bank for Africa (UBA) Plc has reiterated its commitment towards building tangible economic bridges and strengthening diaspora-driven investment into Nigeria. UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, stated this on Monday, while hosting key representatives from the Nigerians in Diaspora Commission (NiDCOM) led by its chairman/CEO, Hon. Abike Dabiri, at the bank’s UK office. L-R: Group Managing Director/CEO,…
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Foreign debt gulps N136bn from Govt’s January revenue
External debt obligations gulped a total of N136.54billion from revenues generated by the federation in January 2026, according to Federation Account Allocation Committee documents. The amount was deducted at source from the gross revenue for the month before distribution in February 2026, effectively reducing the net FAAC allocations available to the three tiers of government. Findings showed that the January…
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SEC targets 92% market cap-to-GDP ratio in new master plan, says Agama
The director general,. Securities and Exchange Commission (SEC), Dr Emomotimi Agama has unveiled plans to raise Nigeria’s market capitalisation-to-GDP ratio from its current 33 per cent to 92 per cent — the level achieved by India — as part of an ambitious 2026–2035 Capital Market Master Plan currently in development. He disclosed this on Tuesday at a Citizens’ and Stakeholders’…
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Oyedele pledges revenue boost, fiscal discipline after swearing-in as finance minister
The newly sworn-in Minister of State for Finance, Taiwo Oyedele, has pledged to strengthen revenue generation, improve government spending efficiency, and promote fiscal sustainability as part of efforts to support Nigeria’s economic stability and growth. Speaking to State House correspondents on Monday after his inauguration by President Bola Tinubu at the Presidential Villa, Abuja, Oyedele said his priorities would align…
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Nigerian equities market crosses historic 200,000basis points mark
Nigeria’s stock market hit a major milestone on Monday, with the NGX All-Share Index (ASI) crossing the 200,000-point mark, buoyed by strong investor demand and broad-based gains across key sectors. The benchmark index rose 1.55per cent to close at 201,474.89 points, up from 198,407.30 points in the previous trading session. This brings the month-to-date (MTD) return of the ASI to…
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Inflation eases slightly to 15.06% in February 2026, says NBS
National Bureau of Statistics (NBS) has disclosed that. Nigeria’s headline inflation rate moderated marginally to 15.06per cent in February 2026, down from 15.10per cent recorded in January 2026. The report shows that while annual inflation eased slightly, monthly price pressures strengthened during the period. The Consumer Price Index (CPI), which measures changes in the average price level of goods and…
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Tinubu tasks Oyedele to drive economic stability, growth
President Bola Tinubu has charged the newly sworn-in Minister of State for Finance, Taiwo Oyedele, to strengthen Nigeria’s economy, maintain financial stability, and accelerate economic growth. Speaking on Monday after administering the oath of office at the State House in Abuja, the President said Oyedele’s appointment was a deliberate decision based on his expertise and proven commitment to fiscal reforms.…
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FG eyes $1trn economy by 2030 as Uzoka-Anite resumes at Budget Ministry
The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, has reaffirmed the Federal Government’s commitment to growing Nigeria’s economy to $1 trillion by 2030, emphasising the need for strong policy coordination and strategic planning. Bagudu made the remarks on Monday while receiving the new Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, who officially resumed…
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Tinubu’s economic reforms attracting global investors, says Idris
The Minister of Information and National Orientation, Mohammed Idris, has said Nigeria’s ongoing economic and governance reforms under the administration of President Bola Tinubu are strengthening global confidence in the country and creating new opportunities for trade, investment and international cooperation. Idris made the remarks in London during a world press conference held ahead of Tinubu’s official visit to the…
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Chinese tariff removal: Manufacturers in Nigeria, others African countries to save $1.4bn yearly
Manufacturers have welcomed Chinese President Xi Jinping’s decision to remove tariffs on imports from 53 African countries starting May 1, 2026, noting that the zero-tariff policy will open one of the world’s largest consumer markets to African producers and manufacturers. Nigeria and other African manufacturers under their umbrella body, Pan-African Manufacturers Association (PAMA), expressed optimism that with bilateral trade already…
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