Economy, markets, finance, CBN policy, energy, and industry.
The Naira has fallen to N1,375 per dollar in the parallel market, reflecting a decline from N1,370 just a day earlier. This depreciation highlights the growing disparity between the parallel and official exchange rates amidst ongoing economic challenges.
President Bola Ahmed Tinubu has expressed optimism following a significant arbitration ruling favoring Nigeria in its long-standing dispute with Sunrise Power. This landmark decision is expected to pave the way for the revival of the Mambilla hydro power project, which has faced numerous delays over the years.
The Chairman of the Nigerian Exchange Group has emphasized that the recently launched Dangote IPO showcases the market's ability to support large-scale businesses. He believes this significant event will bolster investor confidence and attract further investments into the Nigerian economy.
The Convention on International Trade in Endangered Species (CITES) has announced the incorporation of Cross River and Okomu National Parks into its elephant monitoring network. This initiative aims to enhance conservation efforts and ensure effective monitoring of elephant populations in Nigeria.
A new report from the Food and Agriculture Organization emphasizes the vital role forests play in food security, yet their contribution remains underrepresented in policies. The FAO calls for greater integration of forests into national agrifood systems to combat hunger and promote sustainability.
Former Central Bank Governor Muhammad Sanusi II emphasizes the need for the Central Bank of Nigeria (CBN) to utilize fintech data to enhance savings and insurance services, connecting the financial system with productive sectors of the economy. He argues that a holistic approach is essential to moving beyond mere transaction facilitation to fostering economic growth.
As Gastech 2026 kicks off in Bangkok with over 50,000 attendees, Nigeria aims to leverage its vast gas resources for national growth and energy security. Minister Ekperikpe Ekpo emphasizes the need for infrastructure and investment to transform gas potential into tangible economic benefits.
A recent report reveals that while Nigeria's financial exclusion rate has dropped to 21%, stark inequalities remain, particularly among the poorest segments of the population. The report highlights that 53% of adults in the lowest wealth quintile still lack access to financial services, contrasting sharply with only 1% in the wealthiest quintile.
Eight microchip designers under the Kaduna State Human Capital Development Initiative have received both specialized training and financial support from Governor Uba Sani. This initiative underscores the government's dedication to fostering innovation and technological advancement in the region.
The National Pension Commission (PenCom) reports that while pension participation has increased, nearly 90% of Nigerian adults remain outside formal pension schemes. The commission is now collaborating with EFInA to enhance financial inclusion and broaden access to pensions for all working Nigerians.
The Federal Government has inaugurated a 3MW hybrid mini-grid project at the University of Abuja, aimed at enhancing the university's energy sustainability. Alongside this initiative, a national call center will be established to address electricity complaints nationwide.
The South East Development Commission (SEDC) is gearing up to launch its first agro-mechanisation project in Enugu, a significant step towards enhancing agricultural productivity in the region. Managing Director Mark Okoye announced the initiative during a recent community engagement in Nomeh Unateze.
