Nigeria’s pension industry has reached a new milestone, with total pension assets rising to ₦31.48 trillion following recent reforms by the National Pension Commission (PenCom). The Commission also disclosed that 938,229 new contributors joined the Contributory Pension Scheme (CPS) over the past two years, bringing total membership to 11.32 million. Speaking at a State House…
Nigeria’s economy recorded mixed developments on Tuesday as the naira traded at around ₦1,382/$ at the official foreign exchange window while strengthening slightly to about ₦1,412/$ on the parallel market. The movement came amid continued volatility in the foreign exchange market and major policy shifts in the energy sector. In a move aimed at boosting…
The Nigerian Exchange (NGX) has recorded one of its strongest rallies in recent history, with investors gaining more than ₦9.3 trillion during a remarkable seven-day buying spree that has reinforced confidence in the country’s capital market. The sustained rally has been driven by strong demand for banking, industrial and energy stocks, pushing the NGX to…
President Bola Tinubu has assured Nigerians that the economic reforms introduced by his administration will soon translate into tangible improvements in their daily lives, despite the hardship many citizens continue to face. Speaking at the inauguration of the PBAT Door-to-Door Movement in Abuja, Tinubu defended key policies such as the removal of the fuel subsidy…
Nigeria recorded fresh economic milestones this week as the naira remained relatively stable against the U.S. dollar while the Dangote Petroleum Refinery continued to strengthen the country’s position in the global energy market through record aviation fuel exports to Europe. The naira traded at around ₦1,370 to the U.S. dollar in the official foreign exchange…
Microsoft has reportedly begun a fresh round of global job cuts affecting just under 2.5% of its workforce, as the tech giant restructures operations while continuing to invest heavily in artificial intelligence infrastructure. The layoffs, expected to impact thousands of employees across multiple divisions, are part of broader cost-cutting efforts taking place across the technology…
The Nigerian naira remained stable at the start of the new month, maintaining its recent gains in both the official and parallel foreign exchange markets amid improving liquidity and continued interventions by the Central Bank of Nigeria (CBN). Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira trading at ₦1,380.17 per U.S. dollar…
The Nigerian naira started the new trading week on a stable note, maintaining its recent gains against the U.S. dollar as confidence in the foreign exchange market continued to improve. According to data from the Nigerian Foreign Exchange Market (NFEM), the naira traded at ₦1,379.22/$1 at the official window, reflecting continued stability after weeks of…
S&P Global has raised its forecast for Nigeria’s average inflation rate in 2026 to 16.9%, up from its previous projection of 15.0%, citing stronger-than-expected spillover from higher global oil prices into domestic energy costs. The revised outlook was published in the ratings agency’s latest report, Economic Outlook Emerging Markets Q3 2026: Inflationary Pressures Will Persist….
Nigerian authorities have intensified their crackdown on security-related offences, with the Economic and Financial Crimes Commission (EFCC) preparing to arraign individuals and companies linked to terrorism financing, while a Kaduna court has ordered the remand of 24 suspects connected to recent violent community disturbances. The EFCC confirmed it is set to file charges against suspects…
