Vice President Kashim Shettima has urged investors, particularly the Islamic Development Bank (IsDB), to channel investments into Nigeria. He made the call on Tuesday while receiving a delegation from the IsDB, led by the Head of its Regional Hub, Hammad Hundal, at the Presidential Villa in Abuja. According to Shettima, this is an opportune moment for investors to engage with Nigeria, as President Bola Tinubu’s administration has addressed many of…

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reaffirmed the federal government’s commitment to private-sector-led growth. This he said as the World Bank launched its latest Nigeria Development Update (NDU) themed ‘Building Momentum for Inclusive Growth.’ READ ALSO: Edun advocates flexible agricultural strategy to bolster food security Edun, who spoke at the launch, commended the World Bank as a valued development partner. He lauded its technical support…

The Nigerian naira appreciated by 0.56% against the U.S. dollar today, strengthening to ₦1601.45/$1 from ₦1610.49/$1 recorded on May 12, 2025. The local currency also posted a 1.13% gain against the British pound, with the exchange rate improving from ₦2140.71/£1 to ₦2116.49/£1. Although modest, these gains highlight ongoing volatility in Nigeria’s foreign exchange market, driven by shifting currency demand, constrained supply, and continued interventions by the Central Bank of Nigeria…

The Minister of Solid Minerals Development, Dele Alake, has revealed that the country’s mining sector recorded impressive growth in the first quarter of 2025. He said the sector generated close to N7 billion from mining licence fees. Speaking at the Organisation for Economic Cooperation and Development (OECD) Forum in Paris, Alake revealed that the country’s solid minerals sector is rapidly gaining momentum. He said the sector is positioning Nigeria as…

LAGOS, Nigeria — May 12, 2025 — The naira depreciated slightly against the world’s major currencies (U.S. dollar, British pound, euro, and Chinese yuan) on Sunday. Although the movements were marginal, they have drawn considerable attention from economic analysts, traders, and international observers, reflecting the continued volatility of Nigeria’s foreign exchange regime. Data from Google Finance indicates that the naira declined by 0.21% against the U.S. dollar and 0.16% against…

Lagos, May 11, 2025 — The Nigerian naira remained largely stable against the U.S. dollar today, holding firm at ₦1607.11/$1, the same rate recorded in the previous trading session on May 10. However, the naira recorded a modest gain against the British pound, appreciating by 0.30%, as the exchange rate moved from ₦2138.10/£1 to ₦2137.22/£1. While small, this shift reflects continued volatility in Nigeria’s foreign exchange market, driven by shifting…

Lagos, May 10, 2025 — The Nigerian naira appreciated by 0.23% against the U.S. dollar today, reflecting subtle shifts in forex demand and the effects of recent monetary policies. According to official data, the exchange rate improved from ₦1610.76/$1 on May 9 to ₦1607.11/$1 on May 10. The modest gain, though small, highlights the continued volatility and pressure in Nigeria’s foreign exchange market. Analysts attribute the movement to fluctuating demand,…

The Nigerian naira recorded a marginal depreciation of 0.19% against the US dollar today, May 9, 2025, compared to the previous trading session. According to official data, the exchange rate moved from ₦1607.72 on May 8 to ₦1610.76 per $1. This slight loss reflects shifting dynamics in forex demand, ongoing supply constraints, and current monetary policies enacted by the Central Bank of Nigeria (CBN).  Daily Naira Market Rates (May 9,…

ExxonMobil has reaffirmed its long-term commitment to Nigeria’s oil and gas industry with plans to invest $1.5 billion, approximately 2.41 trillion Naira in deepwater exploration and development projects between the second quarter of 2025 and 2027. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed the development on its official social media channels yesterday night. READ ALSO: 10 essential rituals of Conclave for electing a new Pope The planned investment will focus…

7 May 2025 – The Nigerian Naira gained marginally against the US Dollar today, appreciating by 0.18% compared to the previous trading day. According to official data, the selling rate for the Dollar to Naira is now ₦1,606.46 per $1, down from ₦1,606.64 on 6 May 2025. This slight gain reflects ongoing shifts in forex demand, supply constraints, and current monetary policies implemented by the Central Bank of Nigeria (CBN).…

No fewer than 6,500 direct and indirect jobs are set to be created in Ewekoro Local Government Area of Ogun State as a $400 million hot rolled coiled steel factory is slated for establishment. The President of Inner Galaxy Group, Mr Li Shuang, disclosed this on Tuesday during a visit to the Governor Dapo Abiodun’s Office at Oke-Mosan, Abeokuta, where he led a delegation of key officials from the company.…

The Lagos State Government has revealed that food transactions worth over N3 billion have been recorded at the Mid-Level Agro Produce Hub in Idi-Oro, Mushin, since its launch in December 2023. Commissioner for Agriculture and Food Systems, Abisola Olusanya, disclosed this on Tuesday during the ongoing 2025 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre, Alausa, to mark Governor Babajide Sanwo-Olu’s sixth year in office. Olusanya said the…