Category: Business

The Naira on Friday appreciated to N1,525 per dollar in the parallel market from N1,530 per dollar on Thursday. Likewise, the Naira appreciated to N1,488 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,488 per dollar from N1,490 per dollar... Read more

I Won’t Borrow to Fund Projects — Uba Sani The Governor of Kaduna State, Governor Uba Sani has assured that his administration will not resort to borrowing to finance projects, stressing that he will neither plunge the state into debt nor abandon inherited projects. The Governor gave the assurance at the groundbreaking ceremony of a 16.5-kilometre asphalt road that will... Read more

Former Speaker of the House of Representatives, Hon. Yakubu Dogara, has described President Bola Tinubu’s tax reforms as the most audacious economic overhaul in Nigeria’s history, warning that its success will determine whether the country can achieve economic justice and sustainable development. Dogara, who delivered the maiden Distinguished Parliamentarian Lecture at the National Asssembly on Monday in Abuja, said the... Read more

By Musa Ahmed The Central Bank Governor, Olayemi Cardoso has reiterated CBN commitment to financial inclusiveness and stimulate productivity towards sustainable economic growth and development of Nigeria. Caedoso stated this during a fair it organized in Kano to sensitize the public on policies introduced by the bank to enhance their lives and livelihood to contribute to the growth and development... Read more

By Kingsley Micheal The Nigeria Customs Service (NCS), has confirmed receipt of the directive of the Federal Ministry of Finance to suspend the implementation of the 4% Free-on-Board (FOB) charged on imported goods. The Service, in a statement, indicated that it was consulting the Federal Ministry of Finance, with a view to exploring alternative measures.  The statement issued by the... Read more

The Federal Government has suspended the proposed collection of a 4 percent Free On Board (FOB) charge on all imports, following concerns that it could disrupt trade and worsen economic pressures in Nigeria. In a memo (Ref. No. F6380/T/12) dated September 15, 2025, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said extensive consultations with stakeholders, trade... Read more

Borno tops food inflation chart at 36.7% Nigeria’s inflation rate continued its downward streak for the fifth straight month, easing to 20.12 percent in August 2025 from 21.88 percent in July, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). The report showed that inflation has dropped by 1.76 percentage points month-on-month... Read more

By Adamu Aliyu  The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has dismissed as false and malicious recent allegations circulating on social media that its officials are involved in petroleum smuggling, illegal levies, and sabotage of government refineries. In a circular to members, the union described the claims as a “coordinated campaign of blackmail, distortion of facts, and... Read more

….as Reps quiz Finance, Budget ministers on 2024–2025 appropriation act performance By Ahmed Musa, Abuja The Minister of Finance Wale Edun has revealed that as of September 2025, about 80 per cent of the 2024 budget had been executed. This is also as the House of Representatives Committee on Appropriations held a closed-door session with the Minister of Finance, Wale... Read more