The Central Bank of Nigeria is set to automate foreign exchange trades by December 2024. This move could enhance transparency, stabilize the naira, and boost investor confidence in Nigeria’s economy.
Nigerian governors reject a proposed increase in the minimum wage to ₦60,000 ($133), citing concerns about financial sustainability. Labor unions remain adamant about a significant hike, leaving the federal government to mediate a solution.
The Federal High Court in Kano will rule on its jurisdiction in the ongoing Kano Emirate crisis on June 13, determining the future course of the legal battle over new emirates.
Nigeria's Senate is urging President Bola Tinubu to take decisive action to address the escalating banditry crisis in the country's northwest region. Senators expressed deep concern over the continued violence, which has resulted in numerous deaths, kidnappings, and the displacement of entire communities.
Nigeria's government has admitted to spending ₦5.4 trillion on oil subsidies in 2024 after numerous denials, sparking debate on the sustainability of such subsidies and their economic impact.
Nigerian senators are embroiled in a heated debate over a bill proposing a ban on open grazing and the establishment of cattle ranches. Proponents argue the bill is necessary to end deadly farmer-herder clashes, while opponents raise concerns about constitutionality and practicality.
The Central Bank of Nigeria reassures the public of the banking sector's stability, emphasizing that no additional banking licenses will be revoked as the industry undergoes strategic recapitalization to enhance economic resilience.
Oil investors in Nigeria struggle with complex regulations and dollar shortages, hindering operations and raising concerns about future growth and stability.
The Central Bank of Nigeria is set to automate foreign exchange trades by December 2024. This move could enhance transparency, stabilize the naira, and boost investor confidence in Nigeria’s economy.
Nigeria commits to reducing post-harvest losses by 25%, boosting food security and jobs through the Special Agro-Industrial Processing Zones initiative.
Dangote Refinery is set to process 400,000 barrels of Nigerian crude oil per day, marking a significant step toward reducing the country’s dependence on imported refined fuel and improving energy security.