Economy

Nigeria’s Senate confronts the federal government’s economic team over the N58.47 trillion 2026 budget, raising concerns about oil revenue projections, debt levels and capital project implementation.

The Central Bank of Nigeria says diaspora remittances now average $600 million monthly following recent financial reforms. CBN Governor Olayemi Cardoso stated that Nigeria is targeting $1 billion in monthly inflows to strengthen foreign exchange reserves and economic stability.

CBN Governor Olayemi Cardoso says ongoing reforms are strengthening Nigeria’s financial system, stabilising the economy, and restoring investor confidence.

The Conference of Registered Political Parties has threatened to sue Edo Governor Monday Okpebholo over plans to launch a state-owned airline, calling the project wasteful and misplaced.

Petrol prices rise to as high as ₦900 per litre after Dangote Refinery increased its ex-depot price from ₦699 to ₦799, affecting Lagos and Edo stations.

China posts a record $1.2 trillion trade surplus in 2025 as shifting US trade policies drive countries to strengthen economic ties with Beijing.

Chevron Nigeria confirms hydrocarbon discovery at the Awodi-07 well in the western Niger Delta under its joint venture with NNPC.

Shell says President Tinubu’s leadership has restored investor confidence, inspiring plans to invest up to $20 billion in Nigeria’s energy sector.

The Federal Government has launched a digital portal for the $25 million Cabotage Vessel Financing Fund, giving indigenous shipowners access to long-awaited funding for vessel acquisition. The initiative aims to boost local participation in shipping, create jobs, and strengthen Nigeria’s maritime industry.

The Federal Government and Edo State have advanced plans to establish an indigenous airline operating from Benin Airport following talks between Aviation Minister Festus Keyamo and Governor Monday Okpebholo. The initiative aims to boost connectivity, attract investment, create jobs, and reposition Benin City as a key aviation hub in line with President Tinubu’s Renewed Hope Agenda.