Nigeria’s external reserves have climbed above the $54 billion mark for the first time since December 2008, reaching $54.08 billion as of September 3, 2026, according to the latest data from the Central Bank of Nigeria. The new figure represents a significant improvement in the country’s foreign exchange buffer, with […]
Former Labour Party presidential candidate Peter Obi has called on President Bola Tinubu to resign, arguing that worsening economic conditions, rising insecurity, and unfulfilled campaign promises have weakened public confidence in the administration. Drawing comparisons with political accountability in established democracies, Obi referenced recent developments in the United Kingdom and […]
Nigeria’s external reserves have surged to $51.04 billion as of June 18, 2026, marking their highest level in 17 years and signaling renewed investor confidence and stronger foreign exchange inflows. According to Central Bank of Nigeria (CBN) data, reserves rose from $49.80 billion at the start of June to $51.04 […]
The long-dormant Olokola Free Trade Zone (OKFTZ) is officially waking up. In a massive economic move, the Ondo State Government, led by Governor Lucky Aiyedatiwa, has partnered with the Dangote Group to transform the coastal corridor into Nigeria’s largest industrial and free trade hub. For decades, the multi-billion dollar OKFTZ […]
President Bola Tinubu has achieved a major diplomatic and economic breakthrough by resolving the decade-long OPL 245 dispute. The historic settlement between the Federal Government of Nigeria, Eni, and Nigerian Agip Exploration Limited (NAEL) ends over 15 years of legal friction and stagnation. Unlocking the Zabazaba–Etan Project With the legal […]
President Bola Ahmed Tinubu has signaled a major shift in Nigeria’s economic management by nominating Taiwo Oyedele as the new Minister of State for Finance. The move, announced Tuesday by presidential spokesman Bayo Onanuga, sees the renowned tax reformer transition from an advisory role to a core executive position within […]
Nigerian billionaire businessman and philanthropist, Femi Otedola, has strongly debunked fresh allegations linking him to the controversial fuel subsidy fraud, calling them false, malicious, and an attempt to rewrite history. In a strongly worded response, Otedola addressed claims made by Umar Sani, former Special Adviser on Media to ex-Vice President […]
Sweeping Changes to Drive Efficiency and Investment in Nigeria’s Oil Sector In a bold move to strengthen Nigeria’s oil and gas industry, President Bola Ahmed Tinubu has reconstituted the Nigerian National Petroleum Company (NNPC) Limited board, appointing new leadership to steer the corporation toward greater efficiency, transparency, and profitability. The […]
Nigeria’s Foreign Reserves Surge Amid Strategic Policy Reforms The Central Bank of Nigeria (CBN) has announced a remarkable increase in the country’s Net Foreign Exchange Reserve (NFER), marking the strongest position in over three years. As of the end of 2024, NFER surged to $23.11 billion, a significant jump from […]
Dangote Retains Top Spot as African Billionaire Fortunes Soar Four Nigerian business magnates—Aliko Dangote, Femi Otedola, Mike Adenuga, and Abdulsamad Rabiu—have been named in the 2025 Forbes Africa Billionaires List, solidifying Nigeria’s status as a key player in the continent’s economic landscape. Forbes released the much-anticipated list on Saturday, March […]
