Business & Economy

Nigeria’s Net Foreign Exchange Reserve (NFER) reached $23.11 billion by the end of 2024, marking its highest level in over three years.  This significant improvement reflects enhanced external liquidity, reduced short-term obligations, and renewed investor...

The National Institute for Policy and Strategic Studies (NIPSS) has projected a decline in the price of premium motor spirit, commonly known as petrol, as more refineries, including the Dangote...

As of February 28, 2025, a total of 117 million Nigerians have enrolled for the National Identity Number (NIN), according to data from the National Identity Management Commission (NIMC) enrollment...

Nigeria’s electricity sector experienced a downturn in the fourth quarter of 2024 (Q4 2024), as the electricity production index fell by 1.64% year-on-year (y-o-y). Data from the Central Bank of...

The Federal Government of Nigeria and the European Union (EU) have initiated discussions aimed at enhancing economic cooperation and expanding trade relations between both parties. According to a statement released...

Japan has announced an additional $5.4 billion (802.5 billion yen) investment in Rapidus, a semiconductor venture backed by Sony, Toyota, IBM, and other major firms. It brings total government assistance...

Entrepreneur Elon Musk has announced the merger of his artificial intelligence startup, xAI, with his social media platform, X, in an all-stock transaction valued at $33 billion. This merger brings...

The Foreign Agricultural Service of the U.S. Mission, in partnership with the California Wine Institute, hosted a trade promotion event in Lagos, connecting 18 California wineries with the Nigerian business...

The Nigerian National Petroleum Corporation Limited (NNPCL) has begun evaluating potential partners ahead of its Initial Public Offering (IPO) on the Nigerian Stock Exchange, which is in line with the...

Justice James Omotosho of the Federal High Court in Abuja has scheduled May 8 for judgment in the case between MultiChoice Nigeria Limited and the Federal Competition and Consumer Protection Commission (FCCPC). This decision follows arguments presented by legal...