ECONOMY

News Summary: Customs officials at Lagos's Murtala Muhammed International Airport are upset about a 100% increase in tariffs. This has caused cargo to pile up at the airport for the...

eNaira is helping Nigeria move faster towards a cashless society - The introduction of the eNaira is a big change for Nigeria's economy. As the Central Bank Digital Currency (CBDC) of...

Naira appreciates at P2P, declines at I&E and parallel markets - On Friday, April 28, the naira strengthened in the Investors and Exporters (I&E) and parallel market windows of the FX...

Nigeria's High-Grade Lithium Discovery: Balancing Economic Growth and Environmental Concerns - Nigeria's recent discovery of high-grade lithium in the Lepidolite Hill in Ekiti State, as reported by the Nigerian Geological Survey...

World Bank requests Nigeria, Mexico, and others to reduce remittance fees - The World Bank Group has recommended that countries of origin in migration, such as Nigeria, Mexico, and others,...

Nigerian bonds drop as investors worry about possible postponement of energy subsidy removal - After the Federal government of Nigeria indicated on Thursday that its plan to remove energy subsidies would...

Nigerian Equities Continue to Rise with N76 Billion Increase in Capitalization - Investors continued their search for bargains ahead of dividend qualifying dates for various companies, leading to sustained bullishness in...

Skyrocketing Inflation Renders Imported Vehicles Unaffordable for Many Nigerians - The escalating inflation in Nigeria, the most sizable economy in Africa, is causing both new and used imported vehicles, often referred...

50% of Foreign Vessels Exit Nigeria Causing Major Setback in Trading - Shipowners are raising concerns over the setbacks in trading in West Africa, particularly in Nigeria, due to rising insecurity...

Naira Redesign Policy Causes Banks' Deposits with CBN to Plummet by 95.82% - The cash crunch in Nigeria resulting from the naira redesign policy has caused the Standing Deposit Facility (SDF),...