Abuja, Nigeria — June 12, 2025 — Nigeria’s total foreign merchandise trade rose to ₦36.025 trillion in the first quarter of 2025, representing a 6.2% increase compared to ₦33.926 trillion recorded in Q1 2024, according to data released by the National Bureau of Statistics (NBS). Despite the significant growth in naira terms, the dollar value
Changsha, China – June 11, 2025On the sidelines of the Ministerial Meeting of Coordinators for the Implementation of Follow-up Actions of the Forum on China-Africa Cooperation (FOCAC), Nigeria’s Minister of Foreign Affairs held bilateral discussions with counterparts from Burkina Faso, Senegal, Niger, Sierra Leone, South Africa, Benin Republic, and Liberia. The meetings, held in Changsha,
Economic projections from top government and industry analysts suggest that Nigeria could attain a $1 trillion economy by 2026, with prospects of reaching a staggering $3 trillion before the end of the decade — if current reforms and growth trends are sustained. The optimistic forecast is rooted in the country’s recent macroeconomic reforms, including the
Nigeria has recorded its highest non-oil export value in over ten years, marking a significant milestone in the country’s economic diversification drive. According to trade figures for the first quarter of 2025, non-oil exports surged to their highest level since early 2010s, underscoring renewed momentum in agriculture, solid minerals, and manufactured goods. The achievement aligns
Lagos, Nigeria – June 11, 2025 – The Federal Operations Unit (FOU) Zone ‘A’ of the Nigeria Customs Service has reaffirmed its resolve to intensify operations against economic saboteurs as part of ongoing efforts to protect Nigeria’s economy from the activities of smugglers and other illicit traders. In a recent operation that stretched across parts
Nigeria’s total merchandise trade for the first quarter of 2025 has surged to ₦36.02 trillion, reflecting a 6.19% increase compared to the ₦33.92 trillion recorded during the same period in 2024, according to the latest data released by the National Bureau of Statistics (NBS). The figures, which signal a gradual rebound in external trade activities,
Kaduna, Nigeria – June 11, 2025 The price of tomatoes has spiked across major markets in Nigeria, and farmers are pointing fingers at a combination of the Eid-el-Adha (Sallah) festivities and a dip in local production as the cause. In interviews conducted with farmers and traders in Kaduna, Kano, and Plateau States , Nigeria’s major
The World Bank has projected a steady and uninterrupted economic growth for Nigeria over the next three years, marking a hopeful turn in the country’s economic trajectory. According to its latest Global Economic Prospects report, the bank forecasts Nigeria’s Gross Domestic Product (GDP) to grow by 3.6% in 2025, 3.7% in 2026, and 3.8% in
Abuja, Nigeria – June 11, 2025 – The latest edition of The Explainer, a publication by the National Orientation Agency (NOA), has credited President Bola Ahmed Tinubu’s 2023 fuel subsidy removal policy with rescuing Nigeria from the verge of economic collapse and ushering in an era of rising government revenue, investment, and development. According to
In just ten days, Nigeria’s capital city, Abuja, will take centre stage as it welcomes heads of government, business magnates, policymakers, and innovators from across 16 West African countries for the highly anticipated West Africa Economic Summit (WAES 2025). The event is expected to chart a bold course toward regional integration, economic transformation, and collective
