Business

Tinubu Vows to Adopt Worldwide Best Practices to Revitalize Nigeria’s Economy

President Bola Tinubu has reiterated his administration’s commitment to learning from other countries and adopting global best practices to drive Nigeria’s economic growth....

FirstHoldCo: Reinforcing ESG, sustainability initiatives as it rebrands

By A.Ezekiel In a world where approximately 20% of new businesses fail within the first two years, 45% within five years, 65% within...

Nigeria’s Net Domestic Credit Declines to N99.41trb in January 2025 – CBN

Nigeria’s net domestic credit has witnessed a significant decline, dropping to N99.41 trillion in January 2025. This represents a contraction of N16.17 trillion...

Nigeria’s GDP Grows by 3.84% in Q4 2024, Driven by Services Sector

Nigeria’s economy has shown resilience, with the country’s Gross Domestic Product (GDP) growing by 3.84% in the fourth quarter of 2024, according to...

Tinubu Pledges to Support Fintech Companies, Hails Flutterwave’s Contribution to Digital Economy

In a significant boost to Nigeria’s financial technology (fintech) sector, President Bola Ahmed Tinubu has pledged his administration’s support for businesses providing payment...

Naira Appreciates to N1,514/$1 at Parallel Market, Gains N11 in One Day

The Nigerian naira continued its strong performance, appreciating by N11 or 0.72% to close at N1,514/$1 at the parallel market on Wednesday, February...

Nigeria’s Inflation Rate Drops to 24.48% in January 2025

Nigeria’s National Bureau of Statistics (NBS) has reported a significant drop in the country’s headline inflation rate, which stood at 24.48% in January...

CBN Gov. Cardoso Reaffirms Commitment to Digitalization, Financial Inclusion

The Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, has reiterated the apex bank’s commitment to leveraging digitalization and technology-driven...

FBN Holdings Transitions to First HoldCo Plc, Unveils New Identity

FBN Holdings Plc has officially announced its transition to First HoldCo Plc, a change that is expected to be implemented across all its...

Nigeria Partners Google to Harness AI for Digital Economic Growth

Nigeria is exploring a strategic partnership with Google to advance artificial intelligence (AI) and digital innovation in the country. President Bola Tinubu disclosed...

Nigeria Sees Significant Growth in Non-Oil Exports, Reaching $5.45 Billion in 2024

Nigeria’s non-oil exports have seen a significant boost, reaching $5.45 billion in 2024, a 20.7% increase from the previous year. According to Dr....

Naira Firms Up at N1,520/$ on Parallel Market Amidst Strengthening Fundamentals

The Nigerian naira has reached its strongest level in the unofficial market this year, trading at N1,520 to the US dollar in the...

Nigeria’s business sector sees uptick in January, indicating economic recovery

Nigerian businesses kicked off in the new year on a positive note, reporting enhanced performance in January 2025. According to the latest report...

CBN Reschedules Monetary Policy Committee Meeting for February 18-19

The Central Bank of Nigeria (CBN) has announced a new date for the 299th Monetary Policy Committee (MPC) meeting, which was initially scheduled...

Nigeria’s Average Income Plummets to $835.49, Exacerbating Cost-of-Living Crisis – IMF

Nigeria’s economic problems have deepened, with the average income per person dropping to $835.49 in 2025, representing a 4.73% decline from $877 in...

Nigeria’s Treasury Bills Auction Sees Strong Demand for 364-Day Tenor

The Central Bank of Nigeria (CBN) has released the results of its Treasury Bills (T-Bills) auction conducted on February 5, 2025. The auction...