BUSINESS
Experts Disagree As Presidency Claims Inflation To Drop To Single Digit
The Presidency has assured Nigerians that the inflation rate in the country is heading towards a single digit and would translate to better living conditions for the masses. Special Adviser to the President on Economic Matters, Tope Fasua, who gave the assurance, as guest on Channels Television’s The Morning Brief yesterday, also said the drop in the inflation rate has...
Naira Appreciated To N1,535/$ In Parallel Market
The Naira yesterday depreciated to N1,535 per dollar in the parallel market from N1,525 per dollar on Monday. But the Naira appreciated to N1,485.05 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,485.05 per dollar from N1,495 per dollar on...
“N11,000 Flight Charge No Longer Realistic” – FG
The Director-General of the Nigerian Airspace Management Agency (NAMA), Farouk Umar, has warned that the N11,000 charge currently imposed on airlines per flight is no longer realistic, given the rising cost of maintaining aviation infrastructure. Speaking in Abuja on Tuesday at a summit convened by the House of Representatives Committee on Aviation, Umar noted that the fee, unchanged since 2008,...
“Nigeria’s Gross Domestic Increases By 4.23%” – NBS
Nigeria’s Gross Domestic Product rose by 4.23 per cent year-on-year in real terms in the second quarter of 2025, according to the latest figures released on Monday by the National Bureau of Statistics. The performance was stronger than the 3.48 per cent growth recorded in the same period of 2024, showing that the economy gained momentum despite persistent structural challenges....
Naira Appreciates To N1,518/$ In Parallel Market
The Naira yesterday appreciated N1,518 per dollar in the parallel market from N1,520 per dollar on Monday. However, Naira depreciated to N1,493.2 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,493.2 per dollar from N1,491.4 per dollar on Monday, indicating N1.8...
FIRS Defends FG’s Borrowing Framework As Legitimate
The Federal Inland Revenue Service, FIRS, yesterday defended the federal government’s borrowing plan, insisting that debt remained a legitimate component of every national budget. It also announced that Personal Income Tax, PIT, and Company Income Tax, CIT, reforms would take effect from January. FIRS equally said federal revenue collection surged to N3.64 trillion in September 2025, a 411 per cent jump...
“Nigeria’s Eight-month Debt Service Bill Rises To $2.86bn” – CBN
Nigeria spent a total of $2.86bn servicing external debt in the first eight months of 2025, according to the international payment data from the Central Bank of Nigeria on Wednesday. This accounted for 69.1 per cent of the country’s total foreign payments of $4.14bn in the period. In the same eight-month stretch of 2024, debt service stood at $3.06bn, representing...
Cardoso Reaffirms Commitment To Enhance Financial Stability
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to shaping global regulatory frameworks for stablecoins and other digital assets, emphasizing that innovation must enhance financial stability. Olayemi Cardoso, governor of the CBN, made this known in Washington D.C. while briefing journalists at the close of the 2025 annual meetings of the International Monetary Fund (IMF) and the World...
CBN Seeks Governors’ Support On Monetary Policy Reforms
The Central Bank of Nigeria (CBN) has called for the support of state governors across the federation for its ongoing monetary policy reforms, aimed at restoring macroeconomic stability and rebuilding investor confidence in the Nigerian economy. This was contained in a communiqué issued at the end of the Nigeria Governors’ Forum (NGF) meeting held on Thursday in Abuja. According to the...
NFEM Records Dollar Strengthening Against Naira At Exchange Rate Today
The Nigerian Foreign Exchange Market (NFEM) recorded a strengthening of the Naira against the US Dollar on October 28, 2025, while the parallel market rate maintained a relatively stable position. Currency traders and businesses are closely monitoring the market dynamics following recent CBN interventions and policy adjustments. As of the latest reporting time today, the official exchange rate in the...
