Naira Trades at N1,380/$ as Nigeria's Reserves Drop
Nigeria's naira depreciates to N1,380.58 per dollar, with external reserves falling to $49.48 billion. The Central Bank introduces new measures to boost FX liquidity and transparency.
Category : Economy
FG Opens YEIDEP Portal for N500,000 Youth Grant: Details
The Nigerian government has launched Batch B of the Youth Economic Intervention and Deradicalisation Programme, offering grants up to N500,000 to empower youths through entrepreneurship and economic inclusion.
Afreximbank Calls for Investment in African Processing Amid Global Tensions
Afreximbank advocates for African leaders to prioritize investments in processing and regional value chains at its 33rd Annual Meetings in Egypt, aiming to reduce commodity dependence and boost economic sovereignty.
Umahi Links Bodo-Bonny Road Phase 2 to Tinubu's Re-election
Minister of Works David Umahi states that supporting President Tinubu's second term bid is essential for completing the Bodo-Bonny road project's second phase, emphasizing its economic and security benefits.
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Man Laments Fuel Price, Questions Public Silence on Economy
A Nigerian man expressed shock after paying N1,400 per litre for petrol, questioning why citizens accept rising costs without protest amid broader economic issues like food prices and insecurity.
Omokri: Nigeria's Debt Hit $113 Billion Before Tinubu
Former presidential aide Reno Omokri disputes a fact-check, asserting Nigeria's public debt reached $113 billion before President Tinubu's inauguration, citing data from the Debt Management Office and Dubawa.
Nigerian in Canada Compares Fuel Prices and Income Levels
A Nigerian man in Canada compares petrol prices between the two countries, noting similar costs but vastly different income levels that affect affordability for professionals.
Omokri: Nigeria's Debt Was $113bn Before Tinubu Took Office
Reno Omokri challenges Daily Trust's fact-check, arguing Nigeria's total public debt reached $113 billion before President Tinubu assumed office, citing additional loans and Ways and Means obligations.
Trump's Signature to Appear on US Currency as Sitting President
The US Treasury Department announced historic plans to feature President Donald Trump's signature on all new paper currency, marking the first time a sitting president's name will appear on US bills. Treasury Secretary Scott Bessent said the move honors A
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Trump's Signature on US Dollar Bills for 250th Anniversary
The US Treasury announces President Donald Trump's signature will appear on dollar bills as part of America's 250th anniversary celebrations in 2026, marking a historic first for a sitting president.
94% of Nigerians Financially Insecure, Report Says
A new report reveals 94% of Nigerians are financially insecure, with PiggyVest executives calling for government intervention to address systemic issues beyond private sector solutions.
Middle East War Raises Nigerian Transport Fares, Burdening Commuters
The ongoing Middle East war has triggered a sharp rise in fuel prices in Nigeria, leading to increased transport fares. Commuters and drivers struggle as experts call for targeted government interventions to ease the economic burden.
N1,400 Fuel Price Hike Sparks Silence Debate in Nigeria
Nigerians question the quiet response to petrol prices hitting N1,400 per litre, contrasting past protests and highlighting economic impacts on transport and daily costs.
Nigeria's Commodity Exchanges: The Missing Link
Despite decades of talk about diversifying Nigeria's economy beyond oil, commodity exchanges remain underutilized due to weak policy support, limiting transparent price discovery and agricultural market efficiency.
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Nigeria Selected as AfCFTA Trade Regime Pilot Country
Nigeria has been designated as the pilot country for the African Continental Free Trade Area's Simplified Trade Regime in West Africa, aiming to ease cross-border trade for small-scale traders and boost economic integration.
Lagos, NACCIMA Push MSMEs and Human Capital for $1T Economy
Lagos State government and NACCIMA emphasize prioritizing MSMEs and investing in human capital as key to achieving Nigeria's $1 trillion economy goal by 2030, addressing inflation and infrastructure challenges.
Professor Urges Finance Alignment with Productive Sectors for Growth
Former University of Uyo VC, Prof. Akpan Ekpo, advises the Federal Government to direct capital toward employment-generating sectors and technological learning for durable national wealth.
Position Size Calculator for Nigerian Naira Traders
Learn why Nigerian traders need position size calculators to manage risk in naira trades amid inflation, central bank policy, and oil price volatility. Essential discipline tool for Lagos, Abuja, Port Harcourt traders.
Nigeria Car Imports Hit N1.58 Trillion in 2025
Nigeria's car imports rose by 24.64% to N1.58 trillion in 2025, driven by consumer demand and industrial transport equipment, with the US as the top supplier.
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Nigerian Lady in UK Laments Minimum Wage Struggle
A Nigerian lady based in the UK has expressed frustration after her basic salary failed to cover monthly expenses, sparking widespread reactions and advice on social media.
Naira Weakens Against Dollar, Pound, Euro in Forex Market
The Nigerian naira depreciated by N4.07 against the US dollar in the official market, driven by high forex demand and limited supply from the CBN. It also fell against the pound and euro, with similar declines in retail and black markets.
Petrol Prices Up in February, Dangote Refinery Supply Issues
NBS data shows petrol prices increased 1.62% in February 2026 to ₦1,051.47 per litre, though down 15.6% from last year. Dangote Refinery CEO reports receiving only 5 crude cargoes monthly instead of 13-15, impacting operations.
30% of Nigerians Earn Below N100,000 Monthly
A new PiggyVest report shows 30% of Nigerians earn less than N100,000 monthly, with 28% reporting no income, highlighting widespread financial strain despite economic reforms.
Capital Importation Rises 26.6% on Portfolio Investment Boost
Nigeria's capital importation increased by 26.6% in Q4, reaching $6 billion, with foreign portfolio investments dominating at 85.14%. The banking sector led inflows, while the UK was the top source.
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Keke Rider Makes Only N50 Profit After N5k Fuel Purchase
A Nigerian tricycle rider's emotional video detailing his meager N50 profit after spending N5,000 on fuel has gone viral, sparking widespread reactions about economic hardship and government policies.
Keke Rider's N5 Profit Laughter Amid Fuel Price Crisis
A tricycle rider in Delta State bursts into laughter after realizing he made only N5 profit from a day's work using N5000 fuel, highlighting Nigeria's economic struggles with rising petrol costs.
NBS: Yobe, Sokoto, Akwa Ibom Have Highest Petrol Prices
The National Bureau of Statistics reveals petrol price trends for February 2026, showing Yobe with the highest average price at N1,134.73 per litre and Lagos with the lowest at N966.61.
Diesel Prices Fall 5.39% Yearly in Nigeria, NBS Data Shows
The National Bureau of Statistics reveals diesel prices decreased by 5.39% year-on-year in February 2026, with Lagos, Borno, and Akwa Ibom having the highest costs while Ogun and Kogi recorded the lowest.
Nigerians Can't Afford Eggs, Yams as Inflation Hits Food Prices
Rising inflation forces millions of Nigerians to cut eggs, yams, rice, and other staple foods from their diets. With poverty rates above 50%, households spend up to 70% of income on food, highlighting a severe cost-of-living crisis.
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Petrol Price Drops 15.6% to ₦1,051 in Nigeria, NBS Says
The average retail price of petrol in Nigeria fell by 15.6% year-on-year to ₦1,051.47 in February 2026, with Yobe State having the highest price and Lagos the lowest, according to NBS data.
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