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Obasanjo says 13% derivation is only a start for oil-producing states

Former president Olusegun Obasanjo says the 13% derivation is only a starting point for oil producing states, as Bayelsa governor Douye Diri calls it inadequate.
News

Nigeria spent N7.7 trillion on debt interest in six months, 124% of its revenue, World Bank says

Nigeria spent N7.7 trillion on interest in the first half of 2026, equal to 124.2% of its N6.2 trillion revenue, according to the World Bank.
News

CBN Cuts Duty FX Rate Again as Naira Exceeds N1500/$

CBN cuts import duty exchange rate to N1,446.281/$, marking the eighth adjustment this month amid ongoing naira fluctuations.
Business

Naira Gains Strength as Foreign Reserves Grow**

The Nigerian currency, the naira, has appreciated against the US dollar in the parallel...
News

Nigeria’s Naira Plummets to All-Time Low Against Dollar

Nigeria’s currency, the naira, has fallen to a record low of 1,534.39 per dollar...
News

Naira Surges as Nigeria’s Central Bank Unifies Exchange Rates

Nigeria's naira soared by more than 27 percent against the US dollar on Monday,...
News

Nigeria’s Foreign Reserves Drop to Lowest Level in Six Years

Nigeria, Africa’s largest economy, is facing a severe foreign exchange crisis as its external...
News

Nigeria Hikes Import Duty Rates Amid Economic Crisis

Nigeria, Africa’s largest economy, is facing a severe economic crisis as the government struggles...
Business

JP Morgan Forecasts Naira to Reach N850/$ by Year-End: What It Means for Nigeria

JP Morgan, a renowned global financial services company, has made a prediction that the...
News

Naira Plummets to Record Low as Dollar Supply Shrinks Markets

The naira, Nigeria’s currency, has fallen to its lowest level against the US dollar...
News

Naira Plummets as Nigeria’s Forex Reserves Hit 18-Month Low

The Nigerian naira has continued to lose value against the US dollar, as the...
Business

How Nigerian Airlines Beat High Costs by Increasing Flight Seats

Nigerian airlines have adopted a new strategy to cope with the high operating costs...
News

Naira plunges to record low of N980 against dollar amid forex crisis

The Nigerian naira has hit a historic low against the US dollar, driven by...

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Business

Obasanjo says 13% derivation is only a start for oil-producing states

Former president Olusegun Obasanjo says the 13% derivation is only a starting point for oil producing states, as Bayelsa governor Douye Diri calls it inadequate.
News

Nigeria spent N7.7 trillion on debt interest in six months, 124% of its revenue, World Bank says

Nigeria spent N7.7 trillion on interest in the first half of 2026, equal to 124.2% of its N6.2 trillion revenue, according to the World Bank.
News

Nigeria opens 2026 licensing round with 40 oil blocks as output hits 1.82 million barrels a day

Nigeria has launched its 2026 oil licensing round, offering 40 blocks across land, shallow water and deepwater, as crude and condensate output rises to 1.82 million barrels a day.
News

“Even a pregnant woman suffers”: Ogun’s Oke Sefu residents beg Gov. Abiodun to fix flooded, pothole-ridden road

Residents of Oke Sefu community in Ibafo, Ogun State, are appealing to the state government to repair a flooded, pothole-ridden access road that has disrupted livelihoods.