Top 10 Nigerian States with Highest Foreign Debt in 2025
Nigerian states paid N455.38bn in foreign debt service in 2025, a 25.77% increase from 2024. Lagos leads with N92.80bn, as top 10 states account for 69% of repayments, raising fiscal concerns.
Category : Economy
Nigeria to Sell State Assets in 2026, Edun Announces
The Federal Government plans to begin selling state-owned assets to private investors from 2026 to strengthen the economy and attract investment, as announced by Finance Minister Wale Edun.
Nigerian Lady's Viral Plea for Help Amid Unemployment Crisis
A young Nigerian woman's emotional online appeal for job opportunities has gone viral, highlighting widespread youth unemployment and the struggle to gain experience.
States' Foreign Debt Service Hits N455bn in 2025
New FAAC data reveals Nigerian states spent N455.38 billion on foreign debt service in 2025, a 25.77% increase from 2024, with Lagos, Rivers, and Kaduna leading the burden.
Nigeria to Sell Public Assets in 2026, Says Finance Minister
Finance Minister Wale Edun announces federal government plans to sell selected state-owned assets in 2026, emphasizing improved investment climate through recent reforms and public-private partnerships.
Gold at $5,000: A Shield for Naira Assets
As gold approaches $5,000 per ounce, Nigerians face currency devaluation and inflation. This milestone highlights gold's role in preserving wealth against naira depreciation and economic instability.
CAC Offers Free Registration to 3,500 Small Businesses
Corporate Affairs Commission announces free business name registration for 3,500 small enterprises nationwide, partnering with Google to enhance digital tools and boost formalization.
Naira Strengthens to N1,351/$ on Dollar Supply Boost
The Nigerian naira appreciated to N1,351.02 per dollar at the official market, supported by increased dollar supply from foreign and domestic investors, signaling improved forex stability.
CAC Reports 248 Fake Companies to EFCC, Blames Banks
Corporate Affairs Commission reveals 248 fraudulent registrations, hands staff to ICPC, and criticizes banks for enabling non-compliant companies to operate, weakening Nigeria's anti-corruption framework.
Malaysia Launches Direct Foreign Worker Recruitment Platform
Malaysia introduces a digital platform enabling direct hiring of foreign workers, eliminating intermediaries to reduce costs and prevent exploitation.
Lawmakers Seek Electricity Subsidy Removal to Increase Revenue
Nigerian senators propose eliminating electricity subsidies to reduce fiscal pressure and fund the 2026 budget, potentially raising power costs for consumers nationwide.
Nigeria's Federation Account Hits N35 Trillion in 2025
Nigeria's federation account recorded over N35 trillion in inflows during 2025, marking a significant 29.63% increase from the previous year's N27 trillion, according to official figures released by the accountant-general.
Nigeria's FX Gap Widens to N90 as Dollar Demand Surges
Nigeria's foreign exchange market sees its widest gap in three years as political actors stockpile dollars ahead of 2027 elections, creating economic pressures.
Cardoso Flags Election Spending, Liquidity Risks to Economic Reforms
CBN Governor Olayemi Cardoso warns that excess liquidity and 2027 election cycle spending could undermine Nigeria's recent economic stability gains if not carefully managed.
Top 10 Strongest Currencies Worldwide in 2026
Analysis of the world's strongest currencies based on US dollar value in February 2026, featuring Middle Eastern oil-backed currencies and traditional European powerhouses.
Nigeria Must Diversify Beyond Oil for Prosperity - Adedeji
NRS Chairman Dr. Zacch Adedeji calls for Nigeria to move beyond crude oil exports, emphasizing productive complexity and learning from Vietnam's economic transformation.
CBN Mops Up Dollars to Slow Naira's Gains as Reserves Rise
The Central Bank of Nigeria purchased $72 million to moderate the naira's rapid appreciation, as external reserves surged by $736.67 million to $46.91 billion, boosting market confidence.
Naira Strengthens as Reserves Surge to $46.91 Billion
Nigeria's naira appreciated by 1.5% as external reserves climbed to $46.91 billion, stabilizing both official and parallel markets with improved FX inflows and reduced outflows.
Rice Price Hike Looms as Nigeria Considers Import Ban
The Nigerian government faces a critical decision on rice imports that could reverse recent price drops. Experts warn that closing import channels may trigger inflation while protecting local farmers.
Top 10 States With Highest FAAC Allocation in 2025
Delta State leads Nigeria's 2025 FAAC allocation rankings with ₦649.67 billion, followed by Rivers and Lagos States. Analysis reveals oil production and commercial activity drive fiscal distributions.
SMEDAN: Nigerian Entrepreneurs Misuse Business Loans
SMEDAN reveals Nigerian entrepreneurs divert MSME loans for personal expenses like weddings and cars, threatening funding schemes and small business growth.
Naira, 4 African Currencies to Strengthen Against Dollar
The Nigerian naira has appreciated significantly, trading at a two-year high against the US dollar. Experts predict further gains for naira and four other African currencies due to improved forex supply and economic factors.
Nigeria's Reforms: Pain to Progress for Millions
Analysis of Nigeria's economic reforms from 2023-2025 shows initial hardship followed by gradual stabilization, with staple prices easing and targeted interventions providing relief.
Naira Declines in Forex Market as Exchange Gap Widens
The Nigerian naira fell by 0.57% against the US dollar in the official foreign exchange market, ending a three-day appreciation streak as dollar demand surged against limited supply.
Naira Gap Widens: Official vs Parallel Markets Exceed 6%
Nigeria's exchange rate disparity between official and parallel markets has expanded beyond 6%, raising concerns about speculation and FX arbitrage despite CBN projections for stability in 2026.
Naira Strengthens Against Pound and Euro in Forex
The Nigerian naira appreciated against the British pound and euro on February 4, 2026, driven by improved liquidity and CBN reforms. Exchange rates show gains across multiple currencies.
Naira Hits 24-Month High at ₦1,358 Against Dollar
The Nigerian naira strengthens to ₦1,358 per dollar in official window, marking best performance in 24 months amid improved dollar liquidity and investor confidence.
Nigeria to Be Africa's 3rd Biggest Economy in 2026 - IMF
The International Monetary Fund projects Nigeria will overtake Algeria to become Africa's third-largest economy in 2026, with GDP expected to reach $334 billion amid ongoing reforms.
Katsina Tops States in FG Project Completion - BudgIT
BudgIT Tracka reveals only 52% of 2024 federal capital projects completed nationwide. Katsina leads with 85.84% completion, while Delta trails at 15.63%. Report highlights transparency gaps despite N7.8 trillion disbursement.
Customs Seizes N3.32B in Prohibited Goods in Lagos
Nigeria Customs Service intercepts prohibited items worth billions in Lagos, including foreign rice, synthetic drugs, and used vehicles, following intelligence-led operations.
Page 3 of 22