The Nigerian naira strengthens sharply to N1,345 per dollar in the parallel market, forcing speculators to offload dollars. The gap with the official rate narrows to just 0.29%, marking a significant convergence.
Nigeria's currency depreciated at the official forex window, closing at ₦1,341.35 per dollar, despite external reserves rising to $48.5 billion. High demand for foreign currency and reduced central bank intervention contributed to the decline.
The Nigerian naira has surged to one of its strongest levels in nearly two years, closing at 1,347.78 per dollar in the official market, driven by improved liquidity and Central Bank interventions.
Nigeria's foreign exchange reserves have surged to $48.5 billion, reaching their highest level in nearly 13 years, providing significant support for the naira and signaling economic strength amid ongoing reforms.
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A Nigerian-Canadian cybersecurity coach expresses conflicted emotions over the naira's appreciation against the Canadian dollar, highlighting impacts on exchange power and life in Nigeria.
Nigeria's debt to the World Bank's International Development Association surged to $18.7 billion, marking an 11.3% annual increase and raising concerns over fiscal sustainability and revenue management.
Nigeria Revenue Service enforces mandatory electronic invoicing for large businesses, with MTN Nigeria as the first to comply. The system aims to enhance tax compliance and digital administration.
Aliko Dangote has urged the federal government to convene a national retreat to address Nigeria's electricity challenges, warning that unstable power supply threatens manufacturing and job creation. He emphasized stronger protection for local industries.
A viral X post sparks intense debate on Nigeria's economy, with users arguing whether budgeting can fix the cost-of-living crisis or if stagnant wages are the real issue, highlighting divergent views on consumer habits and financial realities.
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West African leaders have intensified efforts to launch the long-delayed Eco regional currency, with Nigeria playing a central role in harmonizing monetary policies and meeting strict macroeconomic benchmarks for the ambitious 2027 target.
The Nigerian naira has appreciated significantly, with the dollar exchange rate dropping below N1,400 at the black market. Traders announce new rates amid improved forex supply and rising external reserves.
Billionaire industrialist Aliko Dangote forecasts the Nigerian naira could appreciate to N1,000 against the US dollar by 2026, citing government economic reforms and import restrictions as key drivers.
Ahead of Ramadan, Nigerian markets see sharp increases in staple food prices like rice and beans, with some areas reporting doubled costs, while Lagos and Kano show relative stability.
The Nigerian naira appreciates to ₦1,335.95 per dollar, with external reserves rising to $47.8 billion, boosting market confidence and liquidity across official and parallel markets.
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New NBS data shows Nigeria's inflation fell to 15.10% in January 2026, with Ebonyi, Katsina, and Imo among the top 10 most affordable states to live in based on lowest inflation rates.
New data reveals the top 20 global destinations where Nigerian professionals can secure the highest net monthly salaries in 2026, with Switzerland leading at $7,692 monthly.
The Nigeria Revenue Service has announced a phased rollout of its E-Invoicing and Electronic Fiscal System, with medium-sized businesses required to comply by July 1, 2026.
Nigeria's food inflation fell sharply to 8.89% in January 2026, but CPPE warns prolonged price declines could threaten farmer incomes and rural stability.
Nigeria records its lowest food inflation rate in a decade at 8.89% in January 2026, driven by government policies and a stronger naira, leading to reduced prices for rice and other staples across markets.
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The Central Bank of Nigeria is set to release new operational guidelines for Bureau De Change operators this week, coinciding with the naira's appreciation to N1,390 per dollar in the parallel market, narrowing the exchange rate gap significantly.
The Nigerian naira appreciated significantly in the parallel market, reaching N1,390 per dollar with a 2.16% gain. The exchange rate gap between official and parallel markets narrowed to N35, marking improved economic transparency and reduced volatility.
The West Africa Industrialisation, Manufacturing & Trade Summit in March 2026 will unite ministers, investors, and industry leaders to tackle energy, financing, and regulatory challenges under AfCFTA implementation.
The Federal Government has waived N3 billion in business name registration fees for MSMEs, leading to a surge in daily filings from hundreds to nearly 10,000. Over 60,000 businesses have registered, gaining access to funding and growth opportunities.
Intense competition among Nigerian petrol marketers has led to significant price reductions at filling stations, with Dangote Refinery lowering gantry prices and retailers adjusting pump rates to retain market share.
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NRS Executive Chairman Zacch Adedeji emphasizes that Nigeria's revenue reform success depends on leadership mindset transformation, not just policies or technology. He warns that hidden beliefs about control and perfection can undermine institutional chan
Nigeria's currency market sees narrowing gap as Central Bank reopens dollar sales to BDCs. The naira posted weekly gain despite slight depreciation on Friday, reflecting recovery trends.
The Nigerian naira depreciated against the US dollar in both official and parallel markets on Friday, February 13, 2026, closing at N1,355.42/$1 at NAFEM. However, it gained against the Pound Sterling and Euro. Analysts cite strong FX demand and CBN's non
NPA Managing Director Dr. Abubakar Dantsoho calls on traders and investors to leverage new Export Process Terminals and partnerships to boost Nigeria's global trade competitiveness.
Nigeria's proposed sugar tax increase from N10 to N130 per litre could raise drink prices by 20-50%, impacting health, jobs, and consumer budgets amid debates on effectiveness and equity.
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Valentine's Day in Nigeria drives massive consumer spending, benefiting businesses like florists, restaurants, and hotels. This article explores the top seven sectors cashing in on the love season, highlighting economic impacts and challenges.
