The National Bureau of Statistics (NBS) has reported that Nigeria’s economy grew by 3.13% in the first quarter (Q1) of 2025, following the rebasing of the country’s Gross Domestic Product (GDP) using 2019 as the new base year. This growth reflects a 0.86% point increase compared to the 2.27% recorded in Q1 2024, according to the …
Nigeria’s Economy Grows by 3.13% in Q1 2025 After GDP Rebasing – NBS Read More »
The Nigerian stock market has showcased remarkable growth in its banking sector, with Wema Bank emerging as the top-performing bank stock on the Nigerian Exchange (NGX) as of July 17, 2025. According to data released by financial analyst StatiSense, Wema Bank recorded an impressive one-year return of 152.7%, outpacing its peers and signaling strong investor …
Nigerian Banking Sector Shines: Wema Bank Leads with 152.7% Stock Return in 2025 Read More »
The Nigerian stock market continued its bullish trajectory this week, with the All-Share Index (ASI) surpassing 130,000 points and total market capitalization reaching a record ₦82.41 trillion. This performance is driven by growing optimism that the Central Bank of Nigeria (CBN) could ease monetary policy at its upcoming Monetary Policy Committee (MPC) meeting on July …
Stocks hit ₦82.41trn as investors bet possible rate cut effect on yields Read More »
Nigeria’s headline inflation rate eased for the third consecutive month, falling to 22.22% in June 2025 from 22.97% in May, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). This represents a 0.75% point decline, reinforcing signs of a gradual slowdown in consumer price growth across the country. The trend …
Nigeria’s inflation rate declines 3rd consecutive month to 22.22% Read More »
Nigeria’s drive to boost electricity generation capacity to 30,000 megawatts (MW) by 2030 hinges on a major push for $2.2 billion in private sector investment, aimed at revitalizing the country’s aging and overstretched transmission infrastructure. This urgent call for funding took centre stage at a recent Power Sector Summit convened by the House of Representatives Committee on …
Nigeria Seeks $2.2 Billion Private Sector Investment to Achieve 30,000MW Power Ambition Read More »
Nigeria’s capital market is undergoing a historic resurgence, fueled by clear regulatory signals, bold economic reforms, and growing investor confidence. At the heart of this transformation is the Nigerian Exchange Group (NGX Group), under the leadership of its Group Managing Director and CEO, Temi Popoola. His forward thinking strategy is not just revitalizing the market, …
NGX Group Position Nigeria’s Capital Market to the Forefront of Africa’s Finance Read More »
The International Monetary Fund (IMF) has issued a warning over the increasing risks associated with cryptocurrency use in emerging markets, placing Nigeria at the center of global concern. With the global cryptocurrency market surging by 1,511% to $3.4 trillion between 2020 and 2024, Nigeria has become one of the top three countries for crypto adoption, …
The Nigerian Stock Exchange, operating under the Nigerian Exchange Group (NGX) Limited, achieved a historic milestone as investors gained an unprecedented N1.806 trillion in a single day. This remarkable surge reflects renewed investor confidence in Nigeria’s equities market, driven by improved liquidity conditions and the positive sentiment surrounding ongoing economic reforms. The market’s performance was …
Nigerian Stock Market Records Historic N1.8 Trillion Gain in Landmark Rally Read More »
With Shell’s Trans Niger Pipeline and the Forcados terminal returning as early as November, economists predict that Nigeria’s oil production would increase beyond 1.6 million barrels per day (bpd), helping to stabilize the government’s dwindling oil revenue.After repairs are finished, the Forcados Oil Terminal will restart export operations by the end of October, according to …
Nigeria’s Oil Production to Get Boost as Shell Resumes Export Read More »
The Nigerian National Petroleum Corporation Limited has declared a profit of N674 billion after tax for the 2021 Fiscal year.The NNPC announced the results via their twitter account on October 4th, 2022.The audited financial statements for 2021 have been approved by the Board, according to NNPCL. “NNPCL has progressed to a new performance level, from …
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