BUSINESS
Naira, Stocks Weakens After Trump’s Military Threat
Nigeria’s financial markets began November 2025 on a sour note as the naira and equities weakened sharply following remarks by United States President Donald Trump, who threatened possible military action against Nigeria over alleged religious persecution. Data from the Central Bank of Nigeria showed that the naira, which had traded at a 2025 peak of N1,421.73/$, depreciated to N1,436.34/$ on...
FG Unveils Plans To Boost Food Production
The Federal Government has unveiled new agricultural reforms aimed at ending hunger, boosting food production, and reducing post-harvest losses estimated at over $10bn annually, in line with President Bola Tinubu’s Renewed Hope Agenda for food security and national prosperity. The Minister of Agriculture and Food Security, Senator Abubakar Kyari, and the Minister of State, Senator Sabi Abdullahi, announced this through...
Nigeria’s Private Sector Credit Increased To 75.9% In 2-years
Credit to the Private sector, CPS, in Nigeria has expanded significantly in the last two years, growing by 75.9 % to hit all time high of N117.783 trillion as at September 2025 from N66.944 trillion in the corresponding period 2023. CPS includes loans, trade credits and other account receivables and supports provided by banks to the private sector within a...
“Ghana Scraps Covid Levy, Cuts VAT to Boost Economic Growth”
Ghana has abolished its Covid-19 Health Recovery Levy and reduced value-added tax as part of broader efforts to stimulate economic growth, the government announced on Thursday. Finance Minister Cassiel Ato Forson said the reforms would return GHS 5.7 billion ($520 million) to households and businesses in 2026. Presenting the new measures to Parliament, Forson explained that the overhaul aims to...
Nigeria’s External Reserves Increases To $46bn
The Governor of the Central Bank of Nigeria (CBN), Mr. Yemi Cardoso yesterday said that the nation’s external reserves has risen to $46.7 billion, representing the highest in seven years, since 2028. Cardoso disclosed this in Abuja at the opening of the Monetary Policy Department 20 years anniversary colloquium, adding that this level of reserves can cover over 10 months...
Naira Faces Fresh Pressure as Parallel Market Rates Weaken Despite Official FX Stability
The Nigerian Naira began the week under renewed pressure in the unofficial foreign exchange market, commonly referred to as the black or parallel market. On Monday, November 24, 2025, the Dollar-to-Naira rate in the parallel market traded around levels notably weaker than those reported on the Nigerian Foreign Exchange Market (NFEM). Key Parallel Market Rates: Buying (Dealers buy from the public):...
Dangote To Boost Sugar Production With $700m Expansion Plan
Dangote Group is set to end Nigeria’s dependence on imported sugar with an investment of more than $700 million sugar expansion plan aimed at boosting local production. Dangote Sugar Refinery, one of the group’s subsidiaries, is planning to invest the money in land development, equipment, infrastructure, training and community engagement, with the aim to build a supply chain that can...
PenCom Outlines Conditions For Early Access To Pension Savings Under Contributory Scheme
The National Pension Commission (PenCom) has clarified that Nigerian workers enrolled in the Contributory Pension Scheme (CPS) can access part of their retirement savings before retirement, but only under specific circumstances. Under the CPS, both employers and employees make monthly contributions into a Retirement Savings Account (RSA), which is primarily intended to provide a steady income after retirement. However, PenCom’s...
VAT Revenue Increased By 37% To N4.12trn In H1’25
Revenue generated through Value Added Tax (VAT) rose by 37.7 percent year-on-year to N4.12 trillion in the first half of 2025 (H1’25), up from N2.99 trillion in H1’24, according to the National Bureau of Statistics (NBS). The figure, contained in the Q2’25 VAT report released in Abuja, also showed a marginal quarter-on-quarter decline of 0.03 percent from the N2.06 trillion...
CBN Takes Traders’ Stimulus Package To Abia
As part of efforts to support Abia Traders, Micro, Small and Medium-scale Businesses as well as Households affected by the COVID-19 pandemic, the Central Bank of Nigeria (CBN), has introduced a stimulus package to this regard. The programme is being implemented through NIRSAL Microfinance Bank. In a release signed by the Special Adviser To Abia State Governor On Strategy & Planning,...
