Naira Slides in Black Market, Gains at Official Window The naira slipped against the US dollar on Friday, August 29, recording a marginal depreciation in the parallel market. Currency traders in Abuja told Economic Confidential that the naira exchanged at ₦1,540/$1 for buying and ₦1,550/$1 for selling, weaker than Thursday’s close of ₦1,545/$1, representing a

In the first seven months of 2025, total tax collections reached an estimated ₦17.4 trillion, with the non-oil economy supplying roughly three-quarters of that (about ₦13.07 trillion), marking a sharp break from the petro-dominance that had long defined the treasury. What’s behind the surge Three forces are pushing in the same direction. First, tax administration

Modern phone batteries don’t need to be run from 0% to 100% every time. Lithium-ion cells stay healthier when they spend most of their life in the middle of the charge range, avoid heat, and aren’t pushed hard while charging.  If you want your battery to hold its charge for years rather than months, a

Chelsea Football Club has paid a glowing tribute to former Nigerian international, Celestine Babayaro, as the ex-defender celebrated his 47th birthday on Friday, August 29. Babayaro, who joined the London club in 1997 from Anderlecht, was one of the most exciting African players of his era. At the time, his £2.25 million transfer fee made

Nigeria has cleared the next medium-term roadmap for the economy, and after a National Economic Council meeting chaired by Vice President Kashim Shettima, the Minister of Budget and Economic Planning, Atiku Bagudu, announced federal approval of a 2026–2030 national development plan set for launch in December 2025. The plan will guide federal, state, and local

At the Interior Ministry’s mid-tenure retreat in Suleja, Minister Olubunmi Tunji-Ojo backed a repeal of the 1986 Private Guards Act so that vetted private security firms can carry firearms, arguing that Nigeria’s 230-million population has outgrown an unarmed private guard model. He proposed a split-oversight system: the Office of the National Security Adviser (ONSA) would

Nigerian National Petroleum Company, NNPC Ltd (NNPCL), and the Nigeria Extractive Industries Transparency Initiative (NEITI) are moving to formalise a new partnership on data disclosure and open reporting. The Memorandum of Understanding (MoU) they plan to sign is designed to make operational data easier to access, more consistent, and more useful to citizens, investors, and

With the PDP formally zoning its 2027 presidential ticket to the South,and Bauchi governor Bala Mohammed openly naming Goodluck Jonathan and Peter Obi as options,the conversation has moved from just ordinary talks to actions, but could a unity slate unseat the ruling APC?  Why is this ticket even on the table Bauchi governor Bala Mohammed

Fenerbahçe have parted ways with José Mourinho after the club failed to secure a spot in the 2025–26 UEFA Champions League, sources confirmed on Wednesday. The Portuguese tactician, known for his high-profile stints across Europe, leaves the Turkish giants after a tenure that did not meet the club’s ambitious targets. The decision comes as a

FG Increases Scholarship Grants by 50%, Introduces Special Funds for STEMM, Medical Students The Federal Government has announced a 50 percent increase in scholarship grants across all levels of higher education under a reformed National Scholarship Programme, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda. The new rates, unveiled by the Federal Ministry

FG Targets 21% GDP Boost with e-Governance Bill The Federal Government has said that Nigeria’s Gross Domestic Product could receive a major boost from the digital economy, with contributions projected to rise to 21 per cent by 2030, if the proposed National Digital and E-Governance Bill is passed into law. The Minister of Communications, Innovation

Market Capitalisation Falls to N88.9trn Amid Sustained Bearish Run The Nigerian Exchange closed negative on Thursday as bearish trading sentiments wiped off N438bn from investors’ wealth, dragging the equities market capitalisation to N88.9tn at the end of the day’s transactions. The All-Share Index shed 691.52 points, or 0.49 per cent, to close at 140,557.24 points