Reform and Business Forums: Can They Deliver Investment?
Nigeria's reforms and investment forums often fail to convert into financed projects. The EU-Nigeria Business Forum tests if execution can match intent.
Category : Economy
South Korea to Give Cash Payouts to 36 Million
South Korea plans cash payouts to 36 million low-income earners to ease fuel costs from the Middle East war, with amounts varying by region.
Foreign reserves $49.4bn, FAAC N2.6trn — Uzodimma
Imo Governor Hope Uzodimma says Tinubu's reforms boosted foreign reserves to $49.4bn and monthly FAAC to N2.6trn, ending state bailouts.
India Sounds Alarm Over Oil Crisis, Modi Urges Fuel Conservation
Indian PM Narendra Modi calls on citizens to conserve fuel amid West Asia tensions disrupting global oil supply, urging work-from-home and reduced travel.
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FG Launches Grants, Equipment to Vulnerable Households in Abuja
The Federal Government and NSIPA launched the Grant for Vulnerable Groups, providing 100 households in Abuja with N40,000 credit alerts and starter packs to boost economic participation.
Naira Stable at N1,361/$ in Official Market
The Nigerian naira held steady against the US dollar on May 11, 2026, with official rate at N1,361 and parallel market between N1,395 and N1,405, reflecting improved liquidity.
Nigeria Power Crisis Worsens Despite 300% Tariff Hike
Nigerians decry worsening power supply despite a 300% tariff hike under Band A, paying N2 trillion extra. Generation stagnates at 4,200 MW, with DisCos rationing 3,618 MW. Lagos pushes for subsidy-free electricity.
FG Proposes PPP Solutions for Infrastructure Gaps
The Federal Executive Council approved three PPP projects to boost infrastructure, while CBN warns states' fiscal decisions worsen inflation.
Debtor Countries Form Borrowers' Platform for Debt Negotiations
Developing countries launch the Borrowers' Platform to strengthen collective voice in debt management and financial negotiations, addressing rising debt burdens and fiscal challenges.
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Naira Falls 0.22% as FX Demand Intensifies
The naira depreciated 0.22% to N1,361.4/$ at official market amid rising FX demand, while external reserves dipped 0.06% to $48.33 billion. Parallel market saw marginal appreciation.
What Ethnicity Is Nigerian? Understanding Nigeria's Diversity
Nigerian is a nationality, not an ethnicity. With 371 ethnic groups including Hausa-Fulani, Yoruba, Igbo, and many more, discover the true meaning of Nigerian identity.
NBS Data Shows Cheapest and Costliest Rice, Beans Markets in Nigeria
The NBS reports significant regional price differences for rice and beans in Nigeria, with South South and South West being most expensive and North East cheapest.
Naira Crashes by N5.54 Against Dollar: New Rate N1,361/$1
The naira depreciated by N5.54 against the US dollar in the official market, closing at N1,361.39/$1. It also weakened against the pound and euro. Parallel market rates remained steady.
UK High-Demand Jobs Without Degree 2026: List for Nigerians
Discover high-paying UK jobs in 2026 that don't require a degree. Construction, care, welding, and logistics offer stable careers for Nigerians.
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ITC Workers Protest in Owerri Over High Electricity Bills
Workers of Imo Transport Company protested in Owerri against excessive estimated electricity bills from Transpower Electricity Distribution Company, demanding fair billing and regulatory intervention.
Nigeria's Economy Shows Gradual Stabilisation in 2025
Nigeria's macroeconomic conditions improved in 2025 after severe 2024 pressures, with the MCI rising from -3.0 to -2.0 points, driven by external sector gains, though fiscal and real sectors remain weak.
AfDB, IFC, AU, ECOWAS Back 2026 African CEO Forum
The African Union, ECOWAS, AfDB, and IFC support the 2026 African CEO Leadership Forum in Lagos, themed 'Leading Africa Forward: Bold Vision, Lasting Impact'.
Afri Invoice Secures NRS Accreditation for e-Invoicing
Afri Invoice Nigeria Ltd has secured NRS accreditation as a system integrator for mandatory e-Invoicing, enhancing tax compliance and digital reporting for businesses across Nigeria.
Elon Musk Nears Trillionaire Status as Dangote, Rabiu Lead Africa
Elon Musk is on track to become the world's first trillionaire, while Aliko Dangote and Abdulsamad Rabiu continue to dominate Africa's wealth rankings, highlighting contrasting wealth models.
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Visa Insights Show 20% Rise in Seasonal Spending in Nigeria
Visa reports a 20% year-on-year increase in premium card spending during Ramadan and Eid in Nigeria, driven by travel and retail.
Naira to Gain, Cedi to Weaken: West Africa Currency Outlook
Economists predict Nigeria's naira will strengthen against the USD in May 2026, while Ghana's cedi faces pressure from corporate demand and tight FX supply.
Nigeria's Inflation Crisis Deepens as Food Prices Soar
Nigeria faces a deepening inflation crisis with soaring food prices, impacting millions. Experts call for urgent government intervention.
LASERC reforms target 11,000MW Lagos power deficit
LASERC unveils reforms to address 11,000MW power deficit in Lagos, targeting cost-reflective tariffs, full smart metering, and licensing 14 new operators to boost electricity supply.
50kg Local Rice Hits ₦112,000, Foreign Rice Now ₦133,975
The price of a 50kg bag of local rice in Nigeria has risen to ₦112,000, while foreign rice costs ₦133,975, deepening the food crisis and raising concerns over affordability.
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Nigeria Business Confidence Edges Up in April
Nigeria's business confidence rose marginally in April to 102.1 points, but growth remains weak. Agriculture and non-manufacturing drove expansion, while manufacturing contracted.
Fuel Subsidy Will Not Return, Oyedele Insists
Finance Minister Taiwo Oyedele confirms the Presidency will not reinstate fuel subsidy, citing economic distortions and market self-regulation.
Reps Spokesperson Backs Oyedele on Capital Projects
Philip Agbese expresses confidence in Finance Minister Taiwo Oyedele to improve fiscal management and address capital project delays in Nigeria.
Shettima: Tinubu Reforms Rebuilding State Economies
Vice President Shettima says Tinubu's economic reforms empower states as growth centres through fiscal reforms, energy liberalization, and tax changes, boosting investor confidence.
Maritime Trade Boom Not Reflected in GDP, Oyeyemi
Dr. Boboye Oyeyemi says Nigeria's maritime trade boom is not reflected in GDP due to informal transactions, calling for policy reforms to formalize trade and boost economic growth.
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Dangote Refinery Denies PMS Price Hike, Says Price Stable
Dangote Refinery refutes claims of increasing PMS ex-depot price to ₦1,350, confirming it remains at ₦1,275 per litre to support market stability.
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