Naira appreciates to N1,495 per dollar at parallel market
The naira appreciated to ₦1,495 per dollar in the parallel market, narrowing the spread with the official rate to ₦35.50.
Business and Economy
Cooking gas price drops to ₦1,300–₦1,500/kg as supply improves
Cooking gas prices have dropped significantly across Nigeria as supply improves, with retailers expressing optimism that the market will stabilise within a week.
44% of Nigeria’s informal businesses record daily revenue under N20,000 — report
A new Moniepoint report shows that 44% of Nigeria’s informal businesses make less than N20,000 daily, underscoring the financial strain facing small traders despite their vital role in the economy.
Dollar gains as Naira depreciates for fourth time in a week
The Naira depreciated on Friday, closing the week at N1,475.35 to the dollar at the official foreign exchange market, concluding a week of mild but steady losses attributed to increased demand and limited liquidity.
Obi of Onitsha decries ₦7.6tn economic setback in Southeast caused by insecurity
The Obi of Onitsha, Alfred Achebe, has warned politicians against abandoning governance for early 2027 election alliances, lamenting that insecurity has cost the Southeast about ₦7.6 trillion.
Inside the new gold rush
Illegal mining known as galamsey is booming across Ghana, luring thousands with promises of quick riches. But the gold rush is leaving behind poisoned rivers, scarred farmlands, and a growing environmental crisis.
Naira hits record weekly low despite rising reserves
The Naira recorded its sharpest weekly depreciation, falling to N1,473.29 per dollar despite growing external reserves
How investors can identify growth and value stocks on NGX
As Nigeria’s economy stabilizes and equities soar, investors are urged to prioritize liquidity, profit growth, and dividends when selecting stocks in 2025.
Top 10 states receiving the highest FAAC allocations in July 2025
In July 2025, Nigeria’s FAAC disbursed N704.01 billion to states — an 8.51 percent increase over June — with Delta, Lagos, and Rivers topping the list of beneficiaries.
Nestle to slash 16,000 jobs as new CEO launches major turnaround plan
Nestle will cut 16,000 jobs under new CEO Philipp Navratil as part of a $3.77 billion cost-saving plan to revive growth and investor confidence.