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Economy
334 posts
Nigeria excels in gambling oversight despite massive illegal market
A report by Gaming Compliance International highlights Nigeria as a leader in regulating online gambling, even as illegal platforms across Africa capture $17.8 billion in revenue.
LCCI Urges Stricter Regulation to Prevent Unfair Pricing
The Lagos Chamber of Commerce and Industry is calling for tighter regulatory supervision to ensure fair pricing and transparency across the Nigerian economy, particularly in the petroleum and aviation sectors.
International Oil Costs Climb Nearly 4 Percent Following Middle East Escalations
Global oil prices jumped nearly 4 percent as Middle East tensions threaten key shipping routes, leading to significant fuel price increases in Nigeria.
CBN Governor Links Low Circulation of N100 and N200 Notes to Digital Shift
Governor Olayemi Cardoso asserts that N100 and N200 notes are still legal tender, attributing their reduced visibility to the expansion of digital payments and the effects of inflation on purchasing power.
UK food costs drop but inflation is projected to rise
Inflation in the UK slowed to 2.6% in June due to lower fuel and food costs, though experts anticipate a rebound as energy prices climb.
ECOWAS Confirms 2027 Launch Date for ECO Regional Currency
ECOWAS leaders have officially committed to launching the ECO single currency by 2027 to drive regional integration, while also setting a roadmap for counterterrorism and addressing regional food and security challenges.
Nigeria risks losing significant carbon revenue due to shortage of local expertise
A climate finance expert warns that Nigeria could lose hundreds of millions of dollars in carbon credit revenue to foreign consultants unless it addresses its urgent shortage of skilled local professionals.
Shettima: Strong Governance Is Essential for Nigeria’s $1 Trillion Economy
Vice President Kashim Shettima warned that Nigeria cannot reach its $1 trillion economic target without prioritizing corporate governance and ethical regulatory compliance.
Central Bank of Nigeria keeps interest rate at 26.5% amid geopolitical concerns
The CBN has held its benchmark interest rate at 26.5% citing global risks linked to Middle East tensions, while reporting that external reserves have grown to $52.5 billion.
Nigeria settles N330 billion debt to power firms and launches N729 billion bond
The Nigerian government has paid N333 billion to eight power generation companies and launched a N729 billion bond to clear legacy debts and stabilize the electricity sector.