Okonjo-Iweala Meets Tinubu, Calls for Stronger Social Safety Nets Amid Economic Reforms Former Coordinating Minister of the Economy and current Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has urged the Federal Government to strengthen social safety nets to cushion the impact of...

Naira Appreciates to ₦1,540 Against Dollar in Black Market The naira strengthened against the US dollar on Friday, August 15, gaining ₦20.33 in the parallel market. Currency traders in Abuja told Economic Confidential that reduced demand for dollars contributed to the local currency’s marginal rebound. The...

FEC Approves $125m IsDB Loan for Abia’s Infrastructure Development Abia State Government has received approval from the Federal Executive Council (FEC) for a $125 million loan from the Islamic Development Bank (IsDB) to fund its Integrated Infrastructure Development Project. The announcement was made by Mr. Ukoha...

NUPRC Aims to Capture 40% of Africa's Oil Investments   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is taking bold steps to reclaim the country’s dominant position in Africa’s oil and gas investment space after its share of sub-Saharan Africa’s upstream inflows plunged from...

Equities Plunge N358bn as NGX Bearish Trend Persists   The Nigerian Exchange Limited (NGX) sustained its bearish momentum on Thursday as profit-taking and sell-offs in several large- and mid-cap stocks wiped out about N358bn from the market capitalisation. At the close of trading, the NGX’s market value...

NNPC Laments Delay in Tapping Oil Reserves   The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC) Bayo Ojulari, has warned that Nigeria must urgently turn its oil reserves into production, saying crude in the ground holds no value until it is...