…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…

…States (US) dollar, trading at N1,362.0866 at the Central Bank of Nigeria (CBN) official foreign exchange (FX) window on Friday, July 24, 2026. The data shared on the CBN’s official platform shows that the naira traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,362.0866 per dollar and closed at N1,361.00…

…targeted at micro, small and medium-sized businesses.Mahmud added that Nigeria's foreign exchange challenges have also accelerated the shift toward naira-denominated financing, reducing currency risks for businesses seeking long-term investment.Funding gap persists for mid-sized businessesDespite the sector's growth, t…

…and diplomatic engagement. Tourism remains one of the country’s biggest sources of foreign exchange, while its membership of the Economic Community of West African States (ECOWAS) allows Gambian citizens to move freely across much of West Africa for work, trade and residence. Although visa restrictions remain for many…

…enhance security in agricultural and industrial communities, and stabilise the foreign exchange market,” Ajayi-Kadir stated. Meanwhile, Ajayi-Kadir noted that the association remained committed to pursuing policies that would enhance industrial competitiveness despite economic headwinds in the first half of the year. H…

The Nigerian naira extended its appreciation against the US dollar at the official foreign exchange market on Thursday. Data from the Central Bank of Nigeria,CBN showed that the naira strengthened further to N1,367.76 per dollar on Thursday, up from N1,369.64 per dollar recorded at the official foreign exchange market…

…segments of society. “The Federal Government loses taxes, royalties, export earnings and foreign exchange. Oil-producing states lose industrial development and employment opportunities. “Host communities bear the environmental degradation, polluted air, damaged farmlands, declining fisheries and health impacts. “Ordina…

Nigeria's foreign exchange market recorded a massive single-day turnover of $1.5bn on TuesdayThe naira strengthened against the dollar in both the official and parallel markets as liquidity improved sharply across FX segmentsCBN Governor Olayemi Cardoso credited ongoing reforms for pushing Nigeria's net foreign reserve…

…expenses reached N40.19bn due to elevated logistics and promotional activity. “While foreign exchange liquidity and inflationary pressures remain key operational considerations, management remains committed to cost-optimization, local sourcing, and market innovation to sustain momentum into the second half of the year,…