‎Naira Falls Against Dollar in Black Market ‎The naira continued its downward slide against the US dollar in the parallel market on Friday, May 30, highlighting persistent volatility in Nigeria’s foreign exchange landscape. ‎A source in Abuja’s black market told Economic Confidential that the naira traded...

African Airlines Record 13.6% Jump in Passenger Traffic   The International Air Transport Association (IATA) released data for April 2025 global passenger demand with African airlines recording a 13.6% year-on-year increase in demand. Capacity was up 8.9% year-on-year. The load factor was 76.3% (+3.1 ppt compared to...

NGX Loses N54bn as Bullish Trading Comes to a Halt    The Nigerian Exchange Limited (NGX) lost N54bn in market capitalisation at the close of trading on Thursday, 29 May 2025, ending its recent bullish streak despite a positive breadth with 41 gainers against 24 losers. Market...

Tinubu Orders Reduction in Oil Project Costs   President Bola Tinubu has signed an Executive Order aimed at slashing oil and gas projects’ costs, improving government revenue, and accelerating investment inflow into Nigeria’s energy sector. In a statement issued on Thursday by the Office of the Special...

Cardoso Honored as Central Bank Governor of the Year   Governor of the Central Bank of Nigeria (CBN) Mr Olayemi Cardoso, has been named Central Bank Governor of the Year at the 2025 African Banker Awards held in Abidjan, Côte d’Ivoire. The award was presented at...

Naira Sheds ₦10 Against Dollar in Parallel Market ‎The naira weakened against the US dollar in the parallel market on Thursday, May 29, reflecting ongoing volatility in Nigeria’s foreign exchange landscape. ‎A source in Abuja's black market told Economic Confidential that the naira was trading at...