Nigeria’s foreign exchange (FX) revenue has suffered a significant 73% decline in recent months, driven largely by reduced gains from exchange rate arbitrage. The steep drop reflects the dwindling margin between the official and parallel market exchange rates, a situation that previously offered substantial revenue inflow through arbitrage. According to data obtained from the Central
Nigeria’s Super Falcons are on the cusp of cementing their legacy as the most successful team in African women’s football as they prepare to battle hosts Morocco in the final of the 13th Women’s Africa Cup of Nations (WAFCON). The much-anticipated clash, scheduled to hold at the Prince Moulay Abdellah Stadium in Rabat, will mark
The Athletics Federation of Nigeria has cast doubt on plans to host the 2025 National Trials at the MKO Abiola Stadium in Abeokuta, throwing preparations for the crucial World Championships qualifiers into confusion just days before the scheduled event. The trials, originally set for July 31 to August 2, serve as the mandatory selection
News Report – July 23, 2025 In a historic shift, the United States became a net exporter of crude oil to Nigeria for the first time in February 2025, according to newly released international trade data. The reversal in oil trade flow marks a significant development in the global energy market, as Nigeria, traditionally a
July 22, 2025 Nigeria and Egypt have reaffirmed their commitment to deepening bilateral cooperation as both nations work towards achieving a $500 billion intra-African trade target under the African Continental Free Trade Area (AfCFTA) by the year 2030. This renewed push for economic synergy was emphasized during the Nigeria-Egypt Business Forum 2025, held at the
July 22, 2025 Trade relations between Nigeria and Egypt have witnessed a notable upswing, with total bilateral trade volume reaching $315 million in 2024, according to Egypt’s Minister of Foreign Affairs, Sameh Shoukry. The announcement was made during his address at the Nigeria-Egypt Business Forum 2025, held at the Transcorp Hilton in Abuja, where government
Nigeria has secured over $20 billion in investment commitments from China aimed at revitalizing key sectors including manufacturing, energy, infrastructure, and technology. The landmark deal was finalized during high-level bilateral discussions held in Beijing, signaling renewed cooperation between the two economic giants. According to senior officials present at the meeting, the agreements include direct investments,
ABUJA – July 17, 2025 Nigeria’s annual inflation rate declined to 22.22% in June 2025, marking a marginal but notable easing from the 23.24% recorded in May, according to new data released by the National Bureau of Statistics (NBS). The report, which offers cautious optimism, indicates a slowdown in the rate at which prices of
Nigeria and China have reaffirmed their strategic resolve to strengthen military cooperation and advance their bilateral partnership amid rising global and regional security threats. The renewed commitment was made during a high-level defence dialogue held on Tuesday, July 15, 2025, in Abuja, where top officials from both countries met to review ongoing collaborations and chart
The Securities and Exchange Commission (SEC) has revealed that it is actively probing 79 suspected Ponzi schemes currently operating within Nigeria. This sweeping investigation underscores growing concerns about fraudulent investment activities undermining investor confidence and financial stability across the country. According to an official statement from the SEC, these schemes span various states and have
