…demand. However, investors still face challenges including unreliable power supply, foreign exchange volatility, high infrastructure costs and regulatory uncertainty. Industry observers say the CBN’s data localisation policy could further accelerate investment in local data centres and strengthen Nigeria’s ambition to…

…unchanged since June 2008. “Consider what has happened to the cost of fuel, electricity, foreign exchange, imported components, software licences and specialist training since 2008. The service has had to absorb today’s costs with yesterday’s tariff base. “The dedication of our workforce has helped bridge that gap, but…

…to implement. He highlighted the removal of fuel subsidy, the unification of the foreign exchange market, efforts to improve government revenue, increased infrastructure investment, policies aimed at attracting local and foreign investors, the expansion of the student loan programme, renewed emphasis on agriculture and…

…implemented by the Tinubu administration since 2023. The presidency noted that its foreign exchange market reforms introduced in 2023 had positively impacted the country’s stock market. “One of these significant reforms was the unification of the foreign exchange market. “By establishing a single, market-determined exc…

…carries its own risks. Lower oil prices typically shrink export earnings and reduce the foreign exchange inflows that the country relies on to support public spending. Marketers release new ratesMeanwhile, on Tuesday, August 4, depots across Nigeria made little changes to their petrol prices as they monitored developme…

…remarks of the CBN Governor, Mr Olayemi Cardoso, attributed the increase to stronger foreign exchange inflows and renewed investor participation across different asset classes, saying the trend reflects growing confidence in the country’s economic management and ongoing reforms. She said the reforms are restoring stabi…

…performance, expressing concern over the rising cost of living and fluctuations in the foreign exchange market. “Now, how many people can take three square meals a day? How much were we buying fuel for before? How much is it now? They said they have stabilised the exchange rate… from how much to how much? And it will g…

The naira appreciated against the dollar at the official foreign exchange market on Monday, beginning the week and the new month of August on a positive note. Data from the Central Bank of Nigeria showed that the naira strengthened to N1,364.83 per dollar on Monday, up from N1,368.22 per dollar recorded on Friday. This…

…sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows. The refinancing under Project Gazelle 2 extends and restructures that facility on improve…

…economic performance, expressing concern over the soaring cost of living and erratic foreign exchange rates. “Now, how many people can take three square meals a day? How much were we buying fuel for before? How much is it now? They said they have stabilized the exchange rate… from how much to how much? And it will go u…

…introduced by the Federal Government had strengthened macroeconomic stability, improved foreign exchange reserves and created a more predictable environment for local and foreign investors. “From a macroeconomic standpoint, Nigeria has become more stable, and that is something we should celebrate because we know where…

…currencies.According to market analysts, countries with strong export earnings, healthy foreign exchange reserves and prudent monetary policies are better positioned to maintain currency stability even during periods of global economic uncertainty.Kenya, Zambia show signs of resilienceA recent Reuters survey of foreign…

…and Coordinating Minister of the Economy, Mr Taiwo Oyedele, to explain how fuel and foreign exchange subsidy removal savings have been spent by the Federal Government, with a promise to publish details in a few days, Nigerians are calling for transparency. Oyedele, while responding to a question […] The post Reactions,…

The naira recorded its fifth consecutive day of depreciation at the official foreign exchange market, ending the week on a negative note. Data from the Central Bank of Nigeria showed that the naira weakened to N1,368.22 per dollar on Friday, down from N1,366.73 on Thursday. This means that, on a day-to-day basis, the n…

The Central Bank of Nigeria uncovered foreign exchange regulatory breaches by some authorised dealers after conducting a routine examination of 34 institutions, according to its 2025 Annual Report and Statement of Accounts. The review, which covered activities between 1 April 2024 and 31 March 2025, assessed compliance…

…over the next 12 months. MTN attributed part of its improved earnings to a more stable foreign exchange environment. According to the company, the naira strengthened and remained relatively stable during the first half of the year, closing at about ₦1,380/$ compared with ₦1,530/$ in the corresponding period of 2025…

…driven by higher sales volumes, improved operational efficiency, and a more stable foreign exchange environment.The sharp increase in cement prices, from between N9,300 and N9,700 per bag in January to an average of N10,500 to N13,000, also played a significant role in boosting the companies' revenues and profitability…

…would ever be completed. Despite challenges ranging from the COVID-19 pandemic and foreign exchange volatility to scepticism from lenders, he said the successful delivery of the refinery demonstrates the capacity of Nigerian entrepreneurs to execute projects of global significance. “What we have achieved here has never…

…a significant reduction in net finance costs, which fell to N112.11bn from N216.16bn as foreign exchange losses and interest charges eased, profit before tax surged 34.43 per cent to N981.39bn. Consequently, net income for the period settled 22.69 per cent higher at N638.53bn, raising basic earnings per share by 24.33…

…recent reforms, including exchange rate unification, improved transparency in the foreign exchange market and tighter monetary policy, saying the measures had strengthened external buffers and restored investor confidence.

…called for greater regulatory coordination, warning that multiple taxes, inconsistent foreign exchange access for technology payments and overlapping regulations continue to increase the cost of doing business. The post Nigeria risks losing Africa’s tech investment edge, LCCI warns appeared first on Vanguard News.

…However, it identified challenges including high financing costs, multiple taxation, foreign exchange volatility, inadequate storage and transportation infrastructure, pipeline vandalism, delayed bridging claims and limited access to refinery products by independent marketers. IPMAN urged lawmakers to support reforms t…

…achieving energy security through increased domestic refining capacity while conserving foreign exchange previously spent on importing refined petroleum products. Although monthly refinery receipts remained volatile, the absence of imported ATK throughout the review period suggests that local production has become suff…

…to discussions on fiscal reforms, domestic revenue mobilisation, public debt management, foreign exchange reforms and other key government priorities. The statement noted, “He added that his commitment to dialogue, mutual respect and practical problem-solving further strengthened the longstanding relationship between N…

…as a subsistence activity but as an export-driven sector capable of generating more foreign exchange than crude oil. “Oil is a diminishing asset,” he said, “but productive land, properly managed, can create wealth for generations.” On the 2027 elections and political realignments which has exposed his inability to rema…