Nigeria's Oil Production Surges Past 1.5mbpd, Exceeds OPEC Quota   According to a recent report by the Nigerian Upstream Petroleum Regulatory Commission, Nigeria has successfully achieved its oil production quota as stipulated by the Organisation of the Petroleum Exporting Countries (OPEC). In January,...

Diaspora Remittances and Cardoso’s New Tricks, by Rahma Olamide Oladosu   Diaspora remittances have long been a crucial pillar of Nigeria’s economy, providing vital foreign exchange (forex) liquidity and contributing to financial stability. These inflows from Nigerians living abroad serve as...

NECA Raises Alarm Over Customs' FOB Charge, Predicts N2.84trn Burden   The Nigeria Employers’ Consultative Association (NECA) has warned that the newly introduced four per cent Free On-Board valuation on imports by the Nigeria Customs Service will impose an additional N2.84tn...

10 Top Manufacturers in Nigeria Face N666bn Cost Challenge   The cost of sales for 10 manufacturing and consumer goods companies in Nigeria surged to N665.95bn in 2024, reflecting a 72.47 per cent increase from N386.16bn recorded in 2023. The company’s statement of profit...

Nigeria, World Bank Target Capital Market to Bridge Infrastructure Funding Gap   The Federal Government of Nigeria has initiated discussions with the International Finance Corporation (IFC), a member of the World Bank Group, to develop policies that leverage the capital market and other...

AfDB Expresses Concern Over Slow Progress of Nigeria's $210m Agro-Industrial Project   The African Development Bank (AfDB) has expressed dissatisfaction over the slow progress of the first phase of Nigeria’s Special Agro-Industrial Processing Zones project, raising concerns about the disbursement of...