Tag: #NigeriaEconomy
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GULF CRISIS COULD SPIKE FUEL, FOOD PRICES — ECOWAS WARNS NIGERIA, WEST AFRICA
A conflict thousands of kilometres away could soon hit wallets across West Africa. The Economic Community of West African States (ECOWAS) has raised alarm over escalating hostilities in the Gulf region, warning that a prolonged crisis could drive up fuel and food prices in Nigeria and neighbouring countries already grappling with inflation and currency pressures.…
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NUPRC REMINDS INVESTORS: PRE-QUALIFICATION FOR 2025 LICENSING ROUND CLOSES FEB 27
Time is running out for companies looking to grab a slice of Nigeria’s oil and gas sector—50 blocks up for grabs in the 2025 Licensing Round. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that registration and submission for Pre-Qualification under the Nigeria 2025 Licensing Round will close at 4:30 p.m. on Friday, February…
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NIGERIA TARGETS MASSIVE N40.7 TRILLION REVENUE AS TAX REFORMS TAKE HOLD
After surpassing last year’s target, Nigeria’s revenue agency is aiming even higher with sweeping tax reforms designed to boost government earnings. The Executive Chairman of the National Revenue Service (NRS), Zach Adedeji, says the agency is targeting a massive N40.7 trillion in taxes and royalties in 2026, driven by major reforms expanding its revenue collection…
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CBN CUTS MONETARY POLICY RATE TO 26.5% TO BOOST ECONOMY
Nigeria’s central bank trims key interest rate by 50 basis points, signaling a push to support growth while keeping liquidity stable. The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) from 27% to 26.5%, CBN Governor Yemi Cardoso announced after the 304th Monetary Policy Committee (MPC) meeting in Abuja. The committee…
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CBN WARNS AGAINST NAIRA MUTILATION, SHOWS OFF REFORM WINS
Keep the Naira clean, protect Nigeria’s economy! The Central Bank of Nigeria (CBN) has urged Nigerians to stop spraying, mutilating, counterfeiting, or hawking Naira notes, calling it a national duty to respect the currency. The warning came at the CBN Special Day during the 47th Kaduna International Trade Fair. Deputy Director Sidi Hakama highlighted the…
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WELDING POWERS NIGERIA’S INFRASTRUCTURE AND INDUSTRIAL GROWTH – NIW
From roads and refineries to telecom masts and farms, experts say welding is the backbone of development. The National Institute of Welding (NIW) has called on the Federal Government to step up investment in welding technology and skills, describing the profession as critical to Nigeria’s infrastructure and industrial expansion. Speaking in Lagos, NIW President Dr.…
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CAC AT 35: FROM PAPER FILES TO 24/7 DIGITAL SERVICES
As it clocks 35, the Corporate Affairs Commission celebrates big tech wins, MSME support, and a cleaner companies register. The Corporate Affairs Commission (CAC) has marked its 35th anniversary with a strong message: Nigeria’s business registry has gone fully digital—and MSMEs are winning. Speaking during a Celebration Walk in Abuja, CAC Registrar-General Hussaini Magaji said…
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TIN CAN CUSTOMS HITS N1.61TRN, SMASHES 2025 REVENUE TARGET
Maritime reforms and teamwork drive historic revenue surge. The Tin Can Island Port Command of the Nigeria Customs Service recorded a record-breaking N1.609 trillion in 2025, exceeding its target by over N85 billion, the highest surplus in its history. Customs Area Controller, Comptroller Frank Onyeka, credited the achievement to teamwork, transparency, and operational reforms, including…
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RICE IMPORTS RISE, BUT EXPERTS TELL FARMERS: DON’T QUIT YET
With thousands of farmers facing losses, agriculture experts say the answer isn’t abandoning rice—but fixing what’s broken in the system. Agriculture experts have urged Nigerian rice farmers to keep cultivating despite the recent spike in rice imports, warning that mass exit from production could hurt food security in the long run. Their advice follows a…
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NGX OPENS WEEK IN GREEN AS INVESTORS POCKET ₦9BN
A modest lift in the index, but stock pickers found plenty of winners despite broad sell-offs. Nigeria’s equities market kicked off the week on a positive note, with investors gaining about ₦9 billion as trading closed slightly higher on Monday. Market capitalisation edged up 0.01% to ₦106.162 trillion, while the All-Share Index inched up 14.24…
