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Nigeria incurs an annual loss of N3.2 trillion due to transport inefficiencies, including gridlock and poor logistics. Dr. Oluwasegun Musa of Global Transport Policy highlighted these critical issues affecting the economy.
The Nigerian naira remained stable against the US dollar on June 23, 2026, in both official and parallel markets. Market participants are closely watching liquidity and foreign exchange demand trends.
The Securities and Exchange Commission (SEC) has partnered with Rwanda's Capital Markets Authority to enhance the integration of African capital markets. This collaboration aims to deepen cooperation and promote economic growth across the continent.
Nigerian Customs has seized 870 smuggled vehicles valued at N3.88 billion over the past 15 months. Stakeholders cite delays and high clearing costs as key factors driving importers to neighboring countries' ports.
Nigeria's carbon economy has the potential to create jobs and attract investments, presenting a promising alternative to oil dependency. The founder of Carbon AI emphasizes this shift could lead to significant export earnings for the country.
The Naira has strengthened to N1,394 against the dollar in the parallel market, improving from N1,405 last weekend. This appreciation reflects a positive trend in the currency's performance.
Experts warn that Nigeria's manufacturing ambitions could be jeopardized by a shortage of practical engineering skills. The Nigerian Association of Technologists in Engineering highlights this skills gap as a significant barrier to progress.
• No retreat, no surrender in fight against terrorism, declares IGP Segun James Lagos State Police Command has assured residents of the state of safety and security following a bomb
The naira has shown slight improvement in the foreign exchange market as Nigeria's external reserves have surpassed the Central Bank's target. This development is seen as a positive sign for the country's economy.
OPay is playing a significant role in Nigeria's goal to achieve 95% financial inclusion by 2028. This initiative is part of the Central Bank of Nigeria's Payment System Vision 2028.
Wema Bank has signed a €50 million agreement with EIB Global to enhance credit access for SMEs, youth, and women. This partnership aims to foster economic growth and support entrepreneurship in Nigeria.
Dele Oye claims the Federal Government is holding onto N1.1 trillion ahead of the May FAAC distribution, alleging a distortion of fiscal federalism. He advocates for a mandatory 10% savings into the Sovereign Wealth Fund before any distribution occurs.
A report indicates that Sub-Saharan Africa needs $15 billion annually to achieve universal electricity access by 2035. Current investments are significantly lower, at under $2.5 billion per year.
Five Nigerian families are successfully creating diverse income streams to combat the widening income gap. Their strategies include Uber driving, POS businesses, online tutoring, and home-based catering.
Fitch Ratings has issued a warning regarding Nigeria's $5 billion currency swap agreement, highlighting potential debt-management and liquidity risks. This development raises concerns about the country's financial stability.
Seventy professionals have successfully completed training under the NLNG Train 7 program, enhancing Nigeria's skilled workforce in the energy sector. This initiative focuses on Data Analysis and Supply Chain Management.
The Nigerian Exchange (NGX) market capitalization has decreased to N151.3 trillion, attributed to profit-taking and technical adjustments. This decline indicates a tightening of liquidity in the market.
Dr. Emomotimi Agama emphasizes the need for stronger collaboration among African markets to drive innovation and protect investors. This initiative aims to enhance market development across the continent.
Emmanuel Addeh in Abuja The Dangote Petroleum Refinery supplied about 5.84 billion litres of petrol to the Nigerian market in the first five months of 2026, accounting for about 81.4
Chiemelie Ezeobi The Commissioner of Police, Lagos State Command, Fatai Tijani, on Monday visited the scene of an explosion at the Shoe Materials Market in Mushin, assuring traders and residents
Stoies Peter Uzoho The International Gas Union (IGU) has called for unified regional cooperation, accelerated cross-border infrastructure development, and regulatory harmonization to unlock West Africa’s vast natural gas resources and
Dike Onwuamaeze The Sterling Bank and economic experts have identified processing of raw materials, manufacturing, compliance to trade rules and export standards as the path to resilience in non-oil exports
The Nigerian Exchange (NGX) has recorded a remarkable N1.52 trillion increase, primarily due to a surge in banking stocks. This rebound highlights the resilience of the market amidst economic challenges.
Fitch Ratings has issued a warning regarding Nigeria's proposed $5 billion currency swap, citing potential debt-management and liquidity risks. The warning raises concerns about the implications of this financial move for the country's economy.
Africa's energy sector is witnessing the rise of ambitious entrepreneurs and influential financial institutions. These emerging players are set to significantly impact the continent's economic future.
One person was injured after an IED exploded under a vehicle in a Lagos market. Police assure residents of safety and investigate the Lagos IED explosion.
Buying a car in Nigeria today comes with a lot of considerations, especially as the new car market is increasingly read more Buying a used car? Key checks every buyer should make
Nigeria's new IP securitisation framework aims to significantly boost funding for the creative industries. This initiative is expected to unlock billions, enhancing the growth of the digital economy.
According to him, the police received information about an explosion and immediately deployed Explosive Ordnance Disposal (EOD) operatives to cordon off and secure the area. The post Bomb blast rocks Lagos material market, police assure residents of safety appeared first on Vangu...
Depot prices of Premium Motor Spirit (PMS), commonly known as petrol, eased across several terminals in Lagos on Monday as petroleum marketers adjusted prices amid shifting supply dynamics in Nigeria’s downstream oil market. The post Petrol depot prices slide in Lagos as Dangot...