Nigeria’s banking sector has completed one of its biggest capital-raising exercises, with 33 banks collectively raising about ₦4.65 trillion. Now, the Central Bank of Nigeria (CBN) wants the stronger balance sheets to translate into something businesses and households can actually feel: more productive lending. The CBN’s message is significant because it changes the focus from…
Public service workers across Nigeria have begun a three-day nationwide warning strike over rising living costs, high petrol prices and concerns about workers’ purchasing power. The action, organised by the Joint National Public Service Negotiating Council (JNPSNC), started on Friday, October 2, 2026, and is scheduled to run until Sunday, October 4. The strike comes…
The Manufacturers Association of Nigeria (MAN) is calling on the Federal Government to make the Nigeria Industrial Policy 2025 measurable, saying the success of the new framework should be judged by what changes in factories and businesses, not simply by what is written in the policy. MAN President Francis Meshioye made the call in Lagos…
The US Federal Reserve has raised its benchmark interest rate for the first time in more than three years, taking the federal funds target range to 3.75% to 4% as policymakers respond to stubborn inflation. The decision came despite President Donald Trump’s repeated calls for lower interest rates. At the same time, the US Treasury…
Nigeria’s financial exclusion rate has fallen to 21% in 2026, marking a significant improvement in access to formal financial services. However, the latest EFInA report shows that the progress has not reached Nigerians equally. The biggest gap is now concentrated among the country’s poorest households, raising a bigger question about whether having access to financial…
The surge in global oil prices is creating a new fuel-price problem for Nigeria as Brent crude oil moves above $100 per barrel, putting fresh pressure on petrol and diesel prices. Analysts and petroleum marketers have warned that petrol could move towards ₦1,500 per litre, while diesel could cross ₦2,000 in some markets if international…
Nigeria has returned to a JPMorgan emerging markets bond index after an 11-year absence, giving the country’s local-currency government bonds renewed exposure to international investors. The development is more than a new line on a global investment benchmark. It marks a reversal of the conditions that pushed Nigeria out of JPMorgan’s earlier index in 2015…
The Dangote Refinery has reduced its total debt by about ₦798 billion in the first half of 2026, bringing its liabilities down to roughly ₦7.9 trillion. The reduction comes at a significant time, as the refinery has opened its historic ₦2.15 trillion Initial Public Offering to investors. According to the company’s IPO prospectus, total debt…
Nigeria’s healthcare market is becoming too large for investors to ignore, with Nigerians projected to spend about $34 billion on healthcare in 2026, according to recent industry reports. The rising spending is attracting greater interest in private hospitals, diagnostics, pharmaceuticals and other medical infrastructure. But the opportunity comes with a major weakness: Nigeria still imports…
The long-delayed Badagry Deep-Seaport development has moved into a new phase after APM Terminals signed a Memorandum of Understanding with Badagry Port Development Limited to explore the project. The agreement was signed in Copenhagen during a visit by Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, and a Federal Government delegation. It commits the…
